Costa Rica is known as the Mecca of online casinos thanks to its phenomenal infrastructure, dependable telecommunication system and multilingual workers. Casinos were developed in Costa Rica based on the tourist traffic way back in 1999, and ever since there has been a steady growth in number of land based casinos.
According to Costa Rica’s media, certain lawmakers are contemplating adoption of a novel law that would be effective in regulating and taxing online casinos within the Latino nation. This would be a huge development if implemented, as Costa Rica is one of the few nations where online gaming businesses have the pleasure of operating without being taxed, and operate under a ‘data processing license’.
Though Costa Rica is home to more than 200 online gambling companies, online gambling is yet to be regulated. The proposal to regulate online gambling and levy applicable taxes would actually boost the company’s economy, and the nation would undoubtedly reap a huge amount of cash, which is estimated at about $100 million annually. However as you would agree any new law or implementation of a policy would have its own repercussions, and this law would be no exception.
Way back in 2007 the Partido Accion Ciudadana introduced a bill that sportbooks would be taxed based on the number of employees they have on their payroll. This would include companies having employees as few as 10 and above. In August 2009 there were strong recommendations made to legalize online gambling and levy tax on casino operators.
The risk of people losing their jobs at gaming institutions would be high, as major operators would have their revenue cut due to tax. Unless these operators cut on probably their manpower, they would not be able to enjoy any profit from their operations. This would force current operators to move out to greener pastures and hospitable environments in their endeavor to break even, let alone see profits. However, this proposal is in the pipeline and only time will tell it’s positive and negative effects and of its overall impact on the beautiful country of Costa Rica.
Costa Rica is the home of active online sports betting and Bodog is a well-known name in the online gaming world. Bodog was established in 1995. With its headquarters in San Jose, Costa Rica the company is licensed by the Kahnawake Gaming Commission. Part of Bodog is also an online casino offering an online poker room and online horse racing. Sportsbooks are known to help boost the economy of Costa Rica and the country has become a hot spot for offshore sports betting industry.
In Costa Rica sports betting options are many and include football, cricket, baseball, NFL football, golf, tennis and formula 1. Bodog is offering a 15% rebate on all exotic wagers placed on any race, and has proved to be far more than just a gambling brand. It operates under strict rules and regulations and Costa Rica is privileged to have this exclusive casino headquartered from it soil.
Statistics prove that there are more than 300 sportsbooks operating in Costa Rica and range from large scale operators to small credit shops and employ about 10,000 people most of them being local citizens. The industry has a direct impact on the locals who are employed by the sportsbooks, and the revenue that is generated from offshore betting also dribbles down into many areas of the local economy.