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Online Gambling Arrives At Last in Mexico

Posted on November 21, 2014 by Kimberly Goshterson

Mexico gamblingThe fear of money laundering has been put to rest after both the national parties of Mexico agreed to frame strong legal guidelines to manage online gambling in the nation. The long process of discussion between National Action Party and Party of the Democratic Revolution led to the formation of an agreement within which, online gambling will be legalised, but under tough regulations to restrain money laundering. According to Mexican media the gambling law will lay down the minimum age of online gambling players to 21 years to restrict youngsters from developing a liking for the addictive game.

 

Though a gambling law implemented in 2004 allowed land-based casinos to operate legally, online gambling and National Lottery of Mexico have been operational since 2008 and were not popular due to payment restrictions.

 

Online gambling council

According to the new legislation which is valid for 10 years, there will be a new Advisory Council to administer and regulate online gambling. It will consist of secretaries from departments like health, tourism, economics and finance. Mr. Ricardo Mejia Berdeja, Deputy and Former Chairman of Mexico’s Special Commission on Casinos stated that the agreement has been made after continuous deliberations of legislators and representatives from Federal Government and non-government organizations. The legislation will work to reduce money laundering by making limitations on back room illegal gambling, which generally occurs on country side. The law is expected to bring some semblance of law and order into unauthorized gambling being done now and banks can allow use of debit and credit card payments for licensed operators.

 

Expected growth in revenue

The legislation will help licensed operators like Poker From Home de Mexico, S. de R.L.de C.V. (PFHM), which already has an agreement with Home.com Entertainment Inc. of Las Vegas and others to run their operations with government approval. Gambling enthusiasts are also eagerly awaiting launch of Probability, which has signed an agreement with Mexico’s Grupo Caliente in 2011 as reseller to offer players mobile bingo and mobile slots. The regulation will bring in large casinos and tournaments into Mexico like the ones in Brazil and other parts of Latin America leading to generation of revenue, which can be used for development of community.

 




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