Venezuelan Gambling Meets Setbacks and is Not Likely to Expand

Posted: January 26, 2010

Updated: October 4, 2017

Many of the nations of South America have recently happened upon the benefits to a well regulated gambling industry and are experiencing

Many of the nations of South America have recently happened upon the benefits to a well regulated gambling industry and are experiencing unprecedented growth on its behalf. Venezuela is not one of these countries and, in fact, seems to be going in the other direction entirely.

According to Venezuelan gambling law, gambling is legal but very limited and controlled. There are only a few casinos under operation in the country and they constitute for most of the nation’s overall gambling time.

All poker and slot operations must take place within Venezuelan casinos, otherwise, they are considered to be illegal. Bingo halls, however, are permitted to function individually. The only other form of gambling that is legal outside of the country’s casino is the national lottery. Even sportsbetting is confined to casinos! All gambling operation are regulated by the National Committee for casinos, slots, and bingo halls.

With how strict the current gambling policy seems, it may come as a surprise that online casinos in Venezuela are permitted at all. The local lottery offers its services to players online and the government has issued licenses to two different casino companies for online operations. Online gambling fans are able to play on either of these casinos, and they are also free to access foreign sites that may even cater to Venezuelans in Spanish.

A few years ago, the government decided to discontinue the distribution of gambling licenses and cut down on the industry. Due to this, the gambling industry seems to be at a standstill and shows no hope of further progression. Because of this sudden stringency, internet gambling in Venezuela will most likely see a spike in activity. Online facilities offer more game selection and overall freedom.