The Loteria Nacional governs the lottery operations and is a regulatory body that also is in charge of rendering...
The Dominican Republic shares Haiti with Hispaniola Island and is located in the Caribbean. It provides international organizations a host of attractive opportunities for business despite not being a haven for taxation and considered a traditional jurisdiction offshore. The taxation regime of the nation is based on the principle of territory that is attractive to a vast number of businesses.
The Gambling Market In the Dominican Republic
The gaming market here is associated with the tourism industry that has transformed the nation into a casino resort. In 2009 there were around 4.4m tourists who came to the region for gambling. Today there are about sixty land-based casinos in the Dominican Republic.
Besides the above the domestic market of the nation deploys over 24,000 lottery agents and a host of other electronic lotteries that were launched in 2008.
Sports betting are also another gambling field that is very strong and competitive in the area.
In 2011 there was a tax law passed that significantly affected the gambling industry here. This was made as a result of IMF international commitments. This law was passed with the aim of regulating the growth of the gambling market and inflicting limitations on the lottery and sports betting agencies that were new.
Originally the gambling market in the Dominican Republic was oriented towards foreigners who came here as tourists. However with the increase of internal demand these authorities were forced to open the market for the local residents. In order to compete with Loteria Nacional there were several illegal lotteries that were privately held besides agencies for sports betting that appeared in the nation. In 1999, these authorities have identified the need for issuance of license to operators for affordable fees. In 2006, operators of sports betting agencies were permitted to provide their customers the chance to play slot machines.
Supervision of the Gambling Market
The Casino Department of the Dominican Ministry of Finance has been entitled to control and supervise complete operations of online gambling service providers. This body has been given the authority to render licenses for casino gambling in the Dominican Republic along with issuing permissions for the importation, installation, transfer, overhauling and maintenance of the slot machines.
If the above slot machines are operated by these agencies of sports betting, their entire activity is also controlled by the Casino Department along with the Sports, Physical Education and Recreation Secretariat.
The Loteria Nacional governs the lottery operations and this is a regulatory body that also is in charge of rendering exclusive licenses for lotteries that are interactive.
The major source for the regulation of gambling in the Dominican Republic is Law 351 that has its origins since 1964. It is under this law that the casino gaming has been deemed the source for the attraction of tourists to the nation. There were some additional amendments that were introduced to this Law 351 in the years 1965, 1998 and 2006.
In the past, authorities of the Dominican Republic were entitled to provide online sports betting licenses only. However, since 1996 there are no new licenses that have been provided to sportsbook companies operating outside the nation.