The Dominican Republic has just disclosed that it adopted new legislation in order to provide additional regulatory framework for online gambling. The official step was made on 26 March 2024 when the country signed Resolution 136-2024. The latter will regulate not only casinos but also sportsbooks platforms.
Dominican Republic’s Ministry of Finance is issuer of the new law, with the official supervisor of the law being Dirección de Casinos y Juegos de Azar.
As for the official adoption, the whole process started on 28 February 2024 as letter of recommendation, DM-051-2024 proposing“a new regulated sector of internet gambling and betting in the Dominican Republic.”
Current Situation with Online Gambling in the Country
When it comes to online gambling in Dominican Republic, it went live in 2006 and the very first license was issued in 2011.
The first company to obtain license was Amaya, famous like The Stars Group as of 2017. The company was acquired by Flutter Entertainment two years later. Despite the official laws in the country claiming the legality of online gambling, Amaya was the only brand with that privilege. Still, it’s not completely clear whether the enterprise holds this certification. This also points out that law was nothing more than theory from the very start of the implementation.
The new resolution dating from this year will bring more order into the sector and Dominican Republic will provide deliberate legal framework. As a result, more revenues will flow in the country with new market joiners potentially waiting at the doors to start their operation.
More About Resolution in the Country
Speaking about law in Dominican Republic, online gambling is completely in the hands of Dirección de Casinos y Juegos de Azar. The latter is run by the Ministerio de Hacienda (Ministry of Finance) which also works on providing new licenses to online casinos and lotteries.
The resolution is a huge document, with seven chapters and over 30 pages, so it really goes into details to provide maximum level of transparency and regulation.
The new law prescribes license validity of five years, with impossibility to be transferred in the starting three years. When it comes to the total costs, license for online casinos is $346,000 (£275,000/€320,600), while sports betting operators have to pay $260,000 (£205,400/€239,500).
There is also license for “other applications”, probably for fantasy sports, poker and bingo with total cost of $170,000 (£134,300/€156,600).
Another obligation for the applicants is to comply with responsible gambling polices and to provide a valid proof of that practice. This includes self-exclusion program as well as additional measures determined by ministry.
Source:
“Dominican Republic issues new online gambling regulation”, igamingbusiness.com, April 3, 2024.
Bixy
7 months ago
Moderator
It's good move as regulation is crucial for ensuring consumer protection, preventing money laundering, and fostering fair play. It'll be interesting to see how these regulations are enforced and what impact they might have on the gambling market.
Please enter your comment.
Your comment is added.