Jamaica developing interactive gaming regulations

The Jamaican government is developing regulations to govern interactive and online gambling.

"Due to the expanded use of technology and the need to facilitate the growth of the industry, we, as a government, have decided to fast-track legislation for interactive/online gambling," finance minister Audley Shaw was quoted as saying at the Caribbean Gaming Show and Summit earlier this month.

"Already, we have seen a growth in the mobile betting market, with a few local punters and Caymanas Track Limited offering text betting."

Shaw added that the Betting, Gaming and Lotteries Commission (BGLC) is in the process of drafting regulations for a licensing regime as well as provide regulatory supervision for operators of interactive gaming.

"Even as we keep pace with developments, we are also mindful of the vulnerability of the industry to be used by criminals for money laundering. This concern is what gave rise to the de-risking initiatives of large banks that has spurred smaller firms to improve their own supervisory protocols," Shaw was quoted as saying by Jamaica Information Service.

At the June 14 event in Montego Bay, the minister also announced the merger of three state-run entities – BGLC, Jamaica Racing Commission (JRC), and Casino Gaming Commission – into the new Jamaica Gaming Commission by year end.

"(It) will allow us to better position Jamaica to take advantage of the emerging product offerings that now characterise the global landscape, such as Internet and mobile gaming and their offshoots, which include virtual and fantasy betting. It will also provide the authorities with the flexibility to guide and promote the continued growth of the sector," he noted.