classicscuracao.com

Menu Close

Tag: betting sports

The Jewels of Caribbean Archipelago That Offer Online Sportsbook Licenses (Part 3)

Antigua’s Regulatory Bodies

The Division of Gaming belongs to the Financial Services Regulatory Commission (FSRC), monitors the regulation. This department functions in compliance with international law, under the legal framework as stipulated by the Global Business Corporations Act and the Interactive Gaming and Interaction Betting Legislations.

To maximize efficiency – and enable the best service to the businesses they work with – the FSRC signed a MoU with the Kahnawake Gaming Commission to allow licensed operator applying for an Inter-Jurisdictional Authorization, for hosting their business in either domain.

Antigua’s Gaming Laws – a Nexus of Internal Controversy

In 2017, a disagreement raised between Antigua and the United States of America in the wake of the hurricanes that devastated the Caribbean islands.

Some nations, including the United States, have claimed that, if a sports wagering transaction is initiated outside of Antigua, that transaction should be governed within the boundaries of the nation where it was generated.

This argument has been brought to the World Trade Organization (WTO) ans has been resolutely rejected as incorrect. Despite this, domestic US matters over online gambling (along with pressure with local casinos) caused the US to crackdown on online gambling in the beginning of 2000s.

In response to this action, which had a significant impact on Antigua’s strong but not exceptionally diverse economy, Antigua brought the case to the WTO in 2004. WTO declared that the US illegally violated the trade commitments with Antigua. As the result, Antigua had been unjustly gained of trade revenue from the US with $21 million.

The US has consistently tried to oppose to this decision but the WTO has sided very clearly with Antigua, not believing the US should be entitled to undue influence and interference in foreign countries.

The US has not paid Antigua the full amount which cumulative amount is estimated to be close to $200 million. This has been nearly fifteen-year since the dispute began. Antigua direly needs the money that they are rightfully owed to rebuild their economy after the extreme natural disaster.

The Jewels of Caribbean Archipelago That Provide Online Sportsbook Licenses (Part 1)

Many of the longest and strongest reputations sportsbooks house themselves outside of the United States, in the Caribbean islands such as Antigua, Costa Rica, and Curacao. Each of which offers online sportsbook licenses and cooperates with regulatory bodies to ensure legitimacy, safety, and highest satisfaction for bettors.If you are interested in knowing more about the nuances of each of these licensing regions and how they coordinate with sportsbooks to enable the best sports betting experiences for clients all over the globe, keep reading!

Antigua
A small island and former British colony situated in the West Indies, Antigua is a famous location of operations for many online sportsbooks.
Antigua is popular both regionally and internationally for its unique ports that are geographically suitable for natural protection and shelter from extreme weather conditions. Just as Antigua is a safe haven for stranded sailors in need of shelters to avoid extreme weather, it similarly enables protection and a secure venue of operation for numerous sportsbooks.

Antigua Was the Pioneer in Offering Online Sportsbooks Licenses
Antigua was one of the first nations to legalize online sportsbooks, publishing its first license to an online sportsbook since 1994. By 1996, the nation organized 15 online sportsbooks. At its the highest period, Antigua’s online gaming industry recruited over 5,000 people, which was a significant proportion of the country’s workforce. Generating over $3.5 billion in annual revenue, the online sports betting industry focus on call center operations, marketing, and the Information Technology sector.

This small island nation has created a model for other nations on how countries can successfully integrate online sportsbooks to benefit their economy. The relationship between sportsbooks and the national employment and GDP rates has become mutually beneficial. Most, if not all, countries that permit licenses to online sportsbooks have built themselves after Antigua.

© 2020 classicscuracao.com. All rights reserved.

Theme by Anders Norén.