Regulated Markets Coming to Jamaica?

It is being reported that Jamaica is undertaking the consideration of regulating gambling online. This comes on the heels after support of such regulation has seen support from the Chairman of Betting for the Caribbean Island.

Gary Peart, Chairman of Betting and Gaming, stated that he if of the opinion that by regulating online gaming that it will generate additional revenue for the island nation and could potentially stimulate job growth if gaming operators set up shop in the country.

The chairman also commented that Jamaica has seen growth in the 15-30% range in gaming and with the addition of sports and mobile betting that an additional 15-20% could be seen. This is being supported by Amina Makoon, Direct or legal services, who believes strongly that a market that is regulated will protect those who engage in online gamble, protect minors and would eliminate the laundering of money. Both the Chairman and Director are hoping others will share their sediment and be in favor of making amendments to its gaming laws over the next several months.

Currently Jamaica does not have a gaming industry towards the online market but with the exclusion of other Caribbean nations, regulating could potentially generation substantial financial rewards for the country and its people. Its main source of income is tourism and by broadening its gaming laws, it could potential create a new industry for the nation.

Any updates relating to this will be reported as they become available.

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