Casinos in Venezuela

Different natural attractions, Caribbean drift, tropical resort islands, Isla de Margarita, the Los Roques archipelago, the Andes Mountains, the provincial town of Mérida, and Sierra Nevada National Park are those things that make Venezuela a surprisingly remarkable South American country. With its tourism-and gambling-industry, Venezuela is one of the fascinating countries in the world.

Gambling in Venezuela is legal, but various forms of it are strictly regulated by the leftist government.

In Venezuela, the operation of casinos and bookmakers is authorized by a law enacted in 1997 that states that the National Commission on Casinos is the entity responsible for granting operating licenses.

Gambling in Venezuela is legal. The volume of the market is small compared to other Latin American countries. The proceeds from Venezuelan casinos amount to 4 million USD each year. 5 casinos are operating in the country today. Among the requirements that Venezuelan law establishes to approve a casino license is that the premises be located in an area declared by the authorities to be touristy or in a five-star hotel with a minimum of 200 rooms, in addition to meeting the minimum capital requirements. In addition, 스포츠토토 the situation is affected by severe poverty 76% of Venezuela's population are living below the poverty line. However, the gambling industry is regulated quite rigidly. Online gambling is allowed. Two Venezuelan companies that had government licenses went bankrupt. Venezuelans can still play freely in foreign online casinos.

Land-based casinos are tightly controlled and licenses are not handed out easily. Horse race and greyhound race betting is a state monopoly, as well as lottery, but the state has contracts with several providers.

Casinos and sports betting operations are permitted in Venezuela under a 1997 law but Maduro’s predecessor Hugo Chavez ordered the closure of all casinos and bingo halls in 2011 as part of his efforts to introduce “21st century socialism” to the country. In an already struggling economy, Chavez’s decision threw thousands of local residents out of work.

However, there are no specific restrictions on online gambling in Venezuela, and most foreign sites accept players from the country, with many of them offering their services in Spanish, too.