In July of 2009, politicians in Moscow banned casinos and casino gambling in most of the Russian Federation’s territory. The only part of the country where casino gambling remains legal is basically in Siberia. Since the beginning of this ban, casino operators have been trying to make up for their massive loss of business. They’ve turned to many different locations in Europe and South America, but one of the leading spots for investment is Bolivia.
Bolivian gambling laws are very lax and make this small nation a very promising spot for investments when it comes to casinos. As a matter of fact, it is “a gambling company’s paradise,” according to Marco Antonio Cardenas, the director of the National Lottery of Bolivia.
Cardenas point is proven when he points out that gambling operations in Bolivia have nearly doubled in just the last year. At this point, there are more than 80 casinos and about 10,000 gambling machines – a huge amount when Bolivia’s small population of just 9 million is taken into account. Most of these new enterprises can be attributed to the Russians.
Moscow based Ritzio International is one of the largest gambling site holders in Bolivia with 15 Bingo Bahiti clubs spread out over the country. Locals say that the clubs are never packed but do draw a steady crowd. Ritzio International already had assets in 8 countries and since the ban in Russia has pushed that number up to 15 including Bolivia, Peru, Columbia and Mexico.
While the land-based casino gambling industry can be seen as flourishing, the same cannot be said for online casinos in Bolivia. This is probably because a lot of money is being invested in online projects where the internet casinos are foreign-based and already established. All Bolivians have to do is log onto the net and choose one.
Internet gambling in Bolivia is easily accessible as there are no regulations against it and Bolivians can gamble as they please should they feel the need. The only obstacle is internet accessibility. Most of the population of Bolivia is very poor, but there is a significant chunk of the population that is very wealthy and shows no reservations towards gambling.