Tuesday, July 24, 2018

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Mexico's online gambling industry to improve with review of Federal Gaming Law - Born2Invest

As it stands, online gambling doesn’t fit under the old 1947 Federal Games and Draws Law (for obvious reasons), so it is currently unregulated. But while it’s possible to gamble at an online casino in Mexico, the fact that it’s unregulated means that gamblers could be handing their money to either an unregulated online casino or bookmaker that isn’t guaranteed to pay your winnings, or even criminal enterprises that use online casinos as a way of making additional income. Gambling is already a widespread activity in Mexico. ( Source ) However, it looks like this still-shaky aspect of the Mexican gambling industry is going to change for the better. The Federal Gaming Law bill is currently under review again, following less comprehensive reviews in 2012 and 2013, with the aim of making online gambling in Mexico fully regulated, and similar to traditional gambling in terms of organization, taxations, and regulation. The chance of a more regulated industry spells great news for investors. As well as a market that is safer to operate in, sites that abide by the rules can become trusted by customers, and a foundation for a long-term online gambling company can be built – rather than something that could be left high and dry by further changes to legislation. The U.K.: the perfect example for Mexico? In the U.K., for example, a fully regulated approach to online gambling was adopted early by the government, and over the past two decades, and industry has emerged that could serve as an example for the Mexican government. Websites that offer gambling in the U.K.

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