Latin American Views on Casinos- 21 November, 2016
Latin America consists of such differing environments that it’s not possible to define a collective opinion on gambling. However, despite vastly differing opinions, gambling is still very much a part of Latin America, existing both legally and illegally in certain countries.
It’s speculated that a lot of the current gambling craze in certain parts of South America, especially Bolivia, was a direct result of the banning of casinos in Russia and as a result there has been some serious debate in the past as to whether or not the casinos are contributing to the economy or sapping it. However, there is no denying that the gambling and casino industry has shown a lot of growth over the years and has played a hand in increasing the income generated from tourism. Peru and Venezuela are the most prolific gambling countries as well as Argentina which, boasting its placing of 6th in the world-wide ranking of the amount of casinos in any country, has shown an incredible influx of tourism since it took example from Las Vegas and started building casino resorts and hotels. Casino affiliates have been jumping at the opportunity to make their mark there while they still can and investors are eager to get a cut of some of the world’s fastest growing tourist locations. As a result of this sudden popularity, other countries within Latin America that previously banned and criminalised gambling have also had many debates regarding the legality of casinos and whether or not economies might benefit from opening casinos and making gambling legal. However, a distinct majority of opinion has yet to be established.
On the other hand, internet gambling has become a prosperous industry in recent years and is showing incredible popularity in some Latin American countries. The online gaming industry in Costa Rica generates over $14 billion. This is because some countries that have banned casinos still allow some forms of online gambling, and there are fewer laws regarding online gambling at foreign websites. One of the main things standing in the way of the growing internet gaming industry in Latin America is technology. Without the necessary technological advancements it is difficult to properly regulate online casinos and gaming websites, a good website to test your poker knowledge is the Ladbrokes speed poker game. Another problem that stands in the way of a potentially thriving industry is the massive cultural differences in the different countries of Latin America. It’s difficult to cater to the preferences of all of the players and lure in the majority of the Latin American online gamblers while there are still a lot of large, overseas competitors that can offer them more options.
Overall, casinos and online casinos in Latin America are seen as both a blessing and a curse. They give and take from the economy. They have the potential to be incredibly successful, but it would be incredibly costly to get them to that point. It’s understandable that there is a lot of contrasting opinions and it’s difficult to say whether or not casinos might become wholly accepted.
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