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Uruguay Becomes Latest Latin American Country to Push Online Gaming Law

Posted: Aug 19, 2022 at 09:35.

Last updated: August 19, 2022 09:35 hours.

Uruguay is one step closer to being the latest Latin American country to embrace iGaming. A Senate committee has approved a bill circulating among lawmakers, but there is still work to be done.

Hands of Punta del Este
Hand in Punta del Este, Uruguay, sculpture by Chilean artist Mario Ilarazabal. Uruguay is moving forward with iGaming legislation, but challenges lie ahead. (Image: Getty Images)

The country’s Senate Finance Committee has approved a bill approved months ago by the executive branch of government. If it survives, it will give the go-ahead to state and private online casinos and games.

Some senators have defined the initiative as a “priority.” This is due, among other things, to the increased demand for online betting as a result of COVID-19.

Latin America’s Hot iGaming Market

When the government first introduced the bill, it contained only a rough outline of how the online gaming segment would work. Since then, it has undergone many changes as various political parties have considered it. They added some options but also removed others.

Among other contributions, the legislator included an article calling on the National Casino Directorate (DGC, its Spanish acronym) to fund a fund to treat gambling addiction. If the bill survives, the gaming regulator will be required to give his 5% of total profits to the fund.

In addition, DGC has another task. New responsible gambling rules should be created and overseen. The move comes as a result of the emergence of online casinos and standardizes the standards by which all casinos in the country operate.

Senator Alejandro Sanchez of the People’s Participation Movement was surprised to find items left out of the bill when it was circulated. .

More danger than meets the eye

News outlets say the law is moving fast El Pais, for another reason. Senators are said to want to reinvigorate the investments Giuseppe Cipriani has made in Punta del Este. A billionaire entrepreneur wants a new hotel and casino there.

Cipriani wants to license online games, and may have had that in mind three years ago when he agreed to invest $450 million in Punta del Este. However, as it stands, the law does not allow the Italian to carry out his iGaming activities.

Regulations stipulate that only land-based operators operating live casinos can qualify for an online license. As a result, Cipriani is disqualified because he has not achieved his dream.

The Senate hopes that passing the bill quickly will solve some problems. These include generating more income for Uruguay and preventing Cipriani from threatening to withdraw from the country.

However, their efforts could be thwarted once the initiative reaches the House. There is reportedly considerable resistance to the project within the House.

Deputy Sebastian Cal, for example, has spoken out against the proposal.He said El Pais A provision for allocating a portion of the proceeds to problem gambling.In addition, he is disappointed that the law does not provide more regulation for gambling advertising.

As a result, gamblers cannot expect miracles when Uruguay approaches the goal. However, it could take Uruguay longer as her iGaming starts to come alive at the country’s borders.