If you have been following the news lately, you may have seen headlines on the growing trend of gambling in Central America. Some of the headlines have been informing the readers of the heightened investment in this sector while others have been sensitizing the public on the effect that irresponsible gambling has on society. All in all, this sector has been growing in Central America with the number of people showing interest in the sector growing especially with internet gambling. As stated in a review that was carried out by Joe Booth, one of experts at slotsjudge, recent legalization in some of the countries in Central America has led to a phenomenal increase in the number of online gamblers. Joe Booth profile can be viewed here.
Where is Central America?
For those who may not be familiar with the area which is referred to as Central America, this is a region of the Americas between Mexico, Columbia, and the waters of the Pacific and the Caribbean Sea. The region has seven countries, which include: Panama, Costa Rica, Honduras, Nicaragua, Guatemala, Belize, and El Salvador.
In terms of population, the region is estimated to have fifty million people. Life in Central America is rated to be one of the best in the world, with tourists and visitors flocking the region to enjoy the great weather, the sandy beaches, beautiful cultures, and now various in this area are turning into gambling level quiz capitals.
What is fueling the demand?
There are several reasons that have been put forward to explain the surge of gambling in Central America. They include:
- Emergence of internet gaming
- Legalization of internet betting in the region
- Technological advancement
- Youthful population in these countries
Having explored the factors behind growing trends in Central America, it will be prudent if we looked at the situation in each country.
Costa Rica
It is one of the most economically and politically stable states in the region and this makes it an attractive destination for investors including those interested in games that are played over the internet. While laws passed in 1922 and 1974 explicitly prohibit gambling activities, the government has silently allowed online slots review betting to thrive in the country turning Costa Rica into the leading hub in the region.
Betting companies are not prohibited to establish their business in the country as long as they follow the law. Tolerance of these activities in the country and relaxed taxation policy on online gaming has made Costa Rica a highly attractive market for online casinos. Gambling 2022 statistics point out that the number of online players has increased tremendously with online slots being played shooting to phenomenon levels in the last year.
Nicaragua
Nicaragua is known for its stringent rules on betting in the region where all types, whether land-based or on the internet is heavily regulated. Despite the stringent regulation of the industry, online gambling is not well covered in the law. Investors and online gamblers have been taking advantage of the grey areas in the law. Although the market is not as developed as its neighbors, Nicaragua has seen the number of online gamblers increase in the recent past, a trend that has been associated with the development of online gaming.
Panama
Just like her counterparts, Panama regulates all forms of gambling with virtual gaming being subject to local licensing. Some products such as lottery, horse racing bets, and political events largely remain prohibited. Casino games have been one of the most popular betting activities with old and young alike flocking internet sites.
Belize
Belize is not just known for its dense jungle, Maya ruins, and towering pyramid, its casinos have been growing of late. Some years back, the country only had a handful of casinos but the number has grown with these facilities spread across different cities and towns. Online casinos have also come to bridge the gap, allowing gamblers who are limited by the availability of land-based casinos in their towns and cities to participate in popular pastime activities.
El Salvador
El Salvador has not been left behind in the growth of sector in the region. The country has experienced phenomenal growth in the recent past, with a considerable proportion of the seven million people in the country reporting engaging in some kind of betting in the area. Casino games rank highly in the industry, coming second to sports betting. With the population largely being youthful, it is expected online gambling will soon be one of the most popular activities as people use smartphones and other mobile devices to play.
Guatemala
Although betting remains highly regulated in Guatemala, players and investors have largely defied the odds to make the activity a popular pass-time engagement. Pundits have pointed out the government’s lukewarm attitude and owners of casino games paying no attention to restriction factors responsible for thriving an activity that is largely illegal. Casinos are spread all over the country with Guatemala Prince Casino being the largest facility. With the rise of internet gambling, the numbers have been swelling, a trend that is expected to continue in the next few years.
Gambling in Central America is on the rise, we are having more people participating in different types of wagering. Online casinos have enjoyed increased numbers owing to the advancement of technology as well as restrictions that have been put on land-based casinos. The numbers are expected to continue rising as more online casinos get established in the region.