The government of Jamaica is prioritizing the plans for legalizing online gambling, the officials stated during the Caribbean Gaming Show and Summit. They see the increasing perspectives for development in the iGaming sector and they want to make a good use of them by making online gambling legal for every citizen and guest of the Caribbean country.
According to the Jamaican Minister of Finance and Public Service, Audley Shaw, who made a statement at the conference, there have already been taken measures for making the process of legalization even faster and the nation’s government is looking forward to making online gambling within the law. He made it clear, that the iGaming services will be introduced to the public in the appropriate well-supervised conditions.
This environment will be provided by the Betting, Gaming and Lotteries Commission which is currently working through the regulations necessary for a licensing regime. They are also discussing the supervision they need to provide to the operators which will work in the interactive gaming field, in order to regulate them in the most convenient way possible.
All measures needed will be taken in order to preempt problems such as laundering of money and the dreaded funding of criminal and unlawful activities. The government fully understands the possibility that some inventive criminals can use online gambling as a way to easily gain money for achieving their illegal goals or launder the money they have acquired in the same illicit manner.
This is what makes the officials of various businesses in Jamaica, such as banks and large corporations, to carefully think through all possible outcomes and come up with strategies which will minimize the risks. Smaller companies have also taken measures to improve their own managing and their monitoring arrangements.
Audley Shaw revealed that there are a couple of major investors which are very much interested in providing the Internet gambling in Jamaica with all the support necessary and the government has already spoken to most of them in order to discuss their professional partnership. Seeing great prospects for the Jamaican online gambling industry, these investors want to make the effort and provide all their resources for the cause.
The government of the Caribbean country have already met with two of the investors on an international level and they have moved forward with their applications for Integrated Resource Development status. Government officials aim to approve the legislation before the scheduled three-way merger of the gambling regulators in the country – the Betting Gaming and Lotteries Commission, the Jamaica Racing Commission, and the Casino Gaming Commission. It should be completed by the end of 2017 and it will give the birth of a single governing body which goes by the name of Jamaica Gaming Commission.