Costa Rica is a stable island in a notoriously unstable region, becoming a similarly stable home for online sportsbooks.
As a US protectorate, Costa Rica is known for its progressive environmental policies and is the highest-ranked country in Latin America on the Human Development Index. Considered by many people as the world-class in establishing and managing the efficacy of clean energy sources, Costa Rica is also a successful example of how to become a host of online sportbooks.
How Does Costa Rica Regulate Its Sportsbooks? Actually, They Don’t Really
The Free Trade Zone (FTZ) that Costa Rica allows is exceptionally attractive for many multinational companies and foreign investors, as well as sportsbooks operators.
Costa Rica’s regulatory policies are fairly laissez-faire despite lacking of laws that govern any kind of gambling, given the fact that it was founded in 1821. There is still no governing body to monitor online sportsbooks, so these industry is operating without specific regulations.
Those who set up casinos in Costa Rica capitalize on the nation’s economic philosophy which enables extreme tolerance and against any form of managerial oversight.
While There’s No Regulatory Body, Sportsbooks Can Still Get Licenses
Eventually, the Costa Rican government launched an internet gaming license for online sportsbooks, despite the absence of a regulatory body for online sportsbooks.
While not mandatory for sportsbooks to get permit, many applied and got it regardless. This definitely assure customers with a peace of mind, knowing that they bet with a reliable sportsbook registering with the government.
Sportsbooks operating in Costa Rica are still free from regulation than in any other nations around the world.
Relaxed Standards for International Sportsbooks Doesn’t Means Relax for Its Citizens
Despite relax enforcement of sportsbooks’ practice, it is highly illegal for Costa Rica’s residents to participate in betting activities outside of a casino.
Any and all gambling on games determined as illegal activity, even within the bounds of casinos. Costa Rican law stated that the physical location of an online sportsbook’s server is not the place where bets technically take place.
Subsequently, it is within the bounds of the law for sportsbooks to operate within Costa Rica as long as they don’t attract the business of Costa Ricans.