According to the Tico Times and other sources, EOG has learned that the Finance Ministry is planning to introduce a bill that would tax online gambling entrepreneurs who reside in Costa Rica.

The bill is scheduled to reach the Legislative Assembly this week and a vote will be forthcoming in the middle of August.

For so many years, online sports betting has been unregulated and untaxed in Costa Rica, making this country the mecca of online gambling worldwide.

If gambling is taxed in Costa Rica, upwards of over 100 million dollars is expected to be generated.

"The principal idea of the bill is to regulate activity," Zuñiga said. "Gambling is something that we are currently not monitoring and, thus, not taking advantage of. If we can regulate it, it could create millions more dollars for the economy."

The largest and most established sports betting operation in Costa Rica in terms of bet sizes taken, BetCRIS, Chief Executive Officer, Mickey Richardson, said, "They (The Costa Rican Government) needs to understand our business and the consequences before passing such a law," "Hopefully nothing will happen. I think they would ask for our input and then we might be more supportive." It is estimated that the online gambling industry employs as many as 10,000 or more people both directly and indirectly in the nation. "The industry pays above average salaries and contributes substantially to household incomes," Richardson said.

Although some prominent online gambling businesses have hinted at leaving and heading to Panama if such a bill gets passed, it remains to be seen.

It has been my experience that change occurs slowly in Costa Rica, so although a bill may be introduced next week, it may takes years before we see it executed.

Source: insidecostarica.com

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