Mexico is pushing ahead with legal changes in its gambling laws and it will focus on the online segment, equating it with the rest of the nations’ gambling activities.
Mexico is no stranger to gambling. The county’s economic outlook is not exactly promising, but quite a few people have the disposable income to spend on activities, such as gambling. In fact, Mexico is easily the second-largest market in Latin America. Its proceedings on annual basis generate as much as $10 billion. The only market to outstrip Mexico is Argentina.
Even though Mexico’s had a modest start with gambling, it has quickly started opening landbased casinos, which unlike the crime-ridden country’s other dubious activities, we quickly brought into the fold and was obligated to pay taxes, contributing to social causes as well.
Change Has Come to Mexico
In order for Mexico to catch up to other countries that are attempting to legalize their industries, the online gambling laws will need an overhaul. In effect, online gambling remains the last unregulated wrinkle in Mexico, and this is about to be straightened out.
Apart from the tax money that is inevitably lost because of the lack of regulation, punters often fall prey to erroneous gambling practices. With no regulation to check greedy appetites, offbeat opeators often take advantage and proffer flimsy excuses to bag profits all over the place.
With a regulatory framework to chart a clear course for the entire industry, nothing similar could be feared. What are some of the benefits the industry’s legalization will bring around
Regulatory Boons
The potential gains from a licensed industry are quite palpable. All gamers will feel safe and on the off chance an operator decides to act up, the independent mediator can step in. Audits will also be carried out often so as to guarantee the overall reliability of the sector.
As the online gambling market will in all likelihood surpass that of landbased casinos, the monetary gains will be immense for the country. While no conclusive estimate of the tax revenues that will be gathered this way has been given, the proceedings are deemed to be at least as much as what the country currently collects from landbased operators.
With regulation comes third-party audits, which guarantee that the most popular segment of the online industry is fair and square. We mean of course the video slots. Video slots are the staple product of online casinos and they are based on Random Number Generators. In order to ensure that these RNGs have not been tinkered with, casinos undergo regular checks from established companies around the world which specialise in securing a fair gambling environment for everyone.
With a legalized online industry, we may see the country’s players pooled with neighbouring countries for high-tier competitions across multiple gambling titles, including online poker, for instance.
Mexico’s decision to push ahead with reforms is quite laudable, especially when the United States has been vehemently opposed towards the online segment. At least for once, the U.S. can take its lesson from its Southern neighbour.
