No menu items!

COSTA RICA'S LEADING ENGLISH LANGUAGE NEWSPAPER

HomeSponsored contentAdvertorialHow Could Costa Rica Benefit from Legalising Online Gambling?

How Could Costa Rica Benefit from Legalising Online Gambling?

In Costa Rica, it is currently illegal for residents to engage in online gambling. However, operators in the country are able to offer their services to offshore customers. For the most part, though, the iGaming industry is underdeveloped and unregulated. Resultantly, Costa Rica’s government is missing out on a number of different benefits for its country. We are going to be discussing some of these advantages in our article today. If you’re interested in the topic and want to find out more, then continue reading!

Boosting the Economy

The economy in Costa Rica is relatively stable, but the unemployment rate is high, being 11.49% back in 2019. There are several ways that legalising online gambling in the country could help to boost the economy. For starters, a new industry would result in more employment opportunities. New businesses could start to open, creating jobs to rectify the high unemployment rates. As there are so many subsets of iGaming, from online slots to sports betting, hundreds of companies could be established. In addition to this, the government would be able to generate some extra income for the country – especially if operators from different countries wanted to offer their services to Costa Rican customers. All in all, there are some great economic benefits from legalising online gambling in the country.

Tackling the Clandestine Market

A major problem in Costa Rica at the moment is the clandestine online gambling market. Residents in the country are prevented from betting on any games with random outcomes. Unfortunately, this causes them to seek out opportunities in the clandestine market. This means that players are at a much higher risk of being financially exploited. What’s more, the environment of the clandestine market is highly dangerous, being unregulated and unsupervised. It is not uncommon for players to become hurt. By legalising online gambling in Costa Rica, the prevalence of illegal activity should decrease.

Better Protection of Players

Following on from the previous paragraph, legalising iGaming in Costa Rica would make it much easier to protect players from gambling-related harm. In addition to having laws to prevent the exploitation of customers, regulatory bodies would come on board. These agencies would help to create and enforce high standards for the iGaming sector. For example, they might develop responsible gambling provisions or provide accreditation. Furthermore, online security would be put into place with a regulated online gambling market. This prevents people from having their money stolen by cybercriminals when they place a bet on the internet. Last but not least, casino operators usually have responsible gambling tools on their websites. These can help customers to stay within their bankroll or detect when somebody is showing signs of addiction, so interventions can be made. All of these things would help to create a much safer environment for players in Costa Rica.

These are some of the main ways that Costa Rica could benefit from legalising online gambling. Not only could players be better protected, but the economy significantly boosted.

Trending Now

Earthquake Shakes Costa Rica’s Central Valley

An earthquake shook Costa Rica early Friday morning. The tremor occurred at 12:45 a.m. with a magnitude of 4.4. Its epicenter was located 1...

Former Zoo to Become Costa Rica’s First Urban Natural Park

Simón Bolívar Park, in San José, will be the first space in the country to become an Urban Natural Park. The project, led by...

Costa Rica National Parks to Measure Tourism Impact

Costa Rica will now be able to measure the impact of tourism in its national parks, thanks to innovative environmental technology from The NeverRest...

In Costa Rica, Rare White-Lipped Peccaries Still Survive

Today we meet the white-lipped peccary, a large animal that travels in large groups that has disappeared from a large part of its historical...

End of Air Canada Strike Brings Relief for Costa Rica-Bound Passengers

Air Canada flight attendants ended their strike Tuesday after reaching a tentative agreement with the airline, paving the way for flights to resume gradually....

Route 32 Reopens Following Preventive Closure Over Landslide Risk

Route 32, which connects San José with Limón, was reopened this morning after being closed for nearly 12 hours as a preventive measure due...
spot_img
Costa Rica Coffee Maker Chorreador
Costa Rica Coffee Maker Chorreador
Costa Rica Travel Insurance
Costa Rica Rocking Chait
Costa Rica Travel

Latest News from Costa Rica