At a global level, the gambling industry is highly valued and even protected by the amount of money it contributes to the GDP of the different countries, however, Latin America presents a variation in terms of this economic model, specifically in regulatory and financial matters. tax rates, because while the regulation of the sector in European countries has advanced enormously in recent years.
The changes in the Latin American region have been occurring much more slowly independently of the fact that many countries have managed to adapt legality to new forms of play.
In such a way that Latin America can be a reflection of any situation that we wish to analyze, because there are countries with a specific and clear regulation for the sector, but also countries without any legislation on the matter where no effort is made to prepare legally for a growth, and finally also countries in which online gambling is still prohibited, without wanting to transcend in the understanding that the latter is in a global boom allowing generating a huge amount of resources for different governments.
The latter has only achieved that in a large part of the region online casinos move in the legal vacuum plane.
Precisely because players begin to demand from the market this type of gambling platforms, with simple facts such as access without any problem to Internet gambling sites in other countries or that are not authorized by means of tools such as the VPN, which change the IP address of the system (be it a computer, smartphone or tablet) allowing you to access any site by passing as if you were in another country.
This leads to the countries where these forms of gambling continue to be illegal, stop receiving the income or benefits that would correspond to them if they had legislation in accordance, which would also provide more guarantees and security to bettors or players.
A simple argument to give greater validity to this situation is that players from countries like Colombia, Peru, Mexico or Argentina spend around 15,000 million euros per year in betting
On the other hand, Colombia continues to be an example in regulatory frameworks for these countries that begin a new journey in the legalization of online gambling, because our country is recognized worldwide for regulating the activity with the same precision and seriousness so as not to be left behind. regulatory and regulatory frameworks of European countries.
Finally, this is an industry that should be taken into account by any government in a positive way, since having a well-regulated and legalized gambling industry is something extremely beneficial for any country, since it is not only an important and extremely attractive source of income , but it helps to give guarantees to the players to avoid the proliferation of scams, and submerged markets of illegal bets that mostly nourish only the criminal networks and even drug trafficking of each country.
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A report conducted by YieldSec and commissioned by the Campaign for Fairer Gambling (CFG) suggests the illegal sports betting and online casino markets are far outpacing the legal betting market.
The report says 103 legal operators (both online casino and sports betting apps) target U.S. customers, while there are 860 illegal operators targeting U.S. customers. The report says those illegal operators generated $40.9 billion in gross gaming revenue in 2023 compared to $16.9 billion for legal operators.
The report even estimates the amount wagered on the 2024 Super Bowl via illegal operators was $500 million more than the amount wagered through illegal operators in 2023.
“The black market is alive and well in America. Legalizing iGambling was never going to adequately weaken the illegals,” CFG founder Derek Webb said in a press release. “But the presence of the black market has served as a useful foil — the legal gambling sector’s main rationalization for expansion.”
“Substitution from illegals to legals is simply not happening at the pace it should – illegals are used as brands of choice and convenience, with some substitution to legals for offers and account opening incentives, when available, as with the Super Bowl,” the report concludes.
In this week of reflection, we bring you again some capsules, which regardless of your creed, have small messages that we hope you will take advantage of to improve your life and your relationship with your environment and your peers; Let's take these days to put our ideas in order and move forward in this enormous challenge of being better people and being happy.
Be aware that the arrogant ego loves to change others, control them, manipulate, and submit.
That ego is the self without love and without God, proud, denied humility and, therefore, prisoner. It is impossible to love without humility because the proud do not understand, do not listen, do not dialogue, and offend.
He does not forgive or ask for forgiveness, he dominates, subdues, despises and believes he is right.
A wise man said: “All evils spring from pride, which is lack of love, and good things come with humility.”
Ego it means “I” in Latin and there are three kinds of egos:
1. Loving ego, listen to it and follow it.
2. Proud ego, give it many doses of humility, but it is not bad. Nothing is.
3. Defective ego, it focuses only on the negative and you must give it self-love and security.
Author: Gonzalo Gallo He is a Colombian writer and former priest. He was born in Medellín, Antioquia. Gallo belonged to the Discalced Carmelites community. Gallo spent 22 of his 24 years of priesthood in the city of Cali, where he became popular among other things for his massive masses in the city's Eucharistic Temple1, in addition to his style, humor and social works. “I cultivate several hobbies because I see that the more lights you turn on in your life, the less shadows bring down your spirits. I feel that in my spirituality I feel like a lover and admirer of Jesus and Buddha, without being in a religion.”
Pop singer Bruno Mars has been in the spotlight recently for reportedly racking up $50 million in gambling debts at the casino he’s been performing at — though MGM Resorts said in a statement to MarketWatch on Thursday that this speculation is “completely false,” and that Mars “has no debt with MGM.”
One Grammy-winning artist aside, gambling poses serious financial challenges to millions of Americans, both at in-person casinos and online.
About 2.5 million adults in the U.S. are estimated to have a severe gambling problem, while another 5 million to 8 million have mild or moderate gambling problems, according to the nonprofit National Council on Problem Gambling. It impacts regular consumers and celebrities alike, with golf star Phil Mickelson recently opening up about his gambling addiction on Instagram. Mars has said he played cards to make money before his music career
Sports gambling has grown significantly in recent years amid a wave of legalization across the country that has made it easier for people to place bets on their phones. Americans legally wagered $119.84 billion on sports in 2023, up 27.8% from the previous year, according to the American Gaming Association. Since the U.S. Supreme Court struck down the Professional and Amateur Sports Protection Act (PASPA) in 2018, it’s been up to individual states to legalize sports betting, and it’s now legal in 38 states plus Washington, D.C.
Some people who can’t control their gambling problem have gambling disorder, a diagnosable condition that’s associated with a higher rate of suicide.
Gambling’s financial impact can be severe: The average debt generated by men with a gambling problem ranges from $55,000 to $90,000, while for women it’s $15,000, according to Debt.org, an informational website about debt maintained by the nonprofit InCharge Education Foundation. Many withdraw cash advances on their personal lines of credit and rack up expenses on their credit cards to gamble.
Some people also borrow money, called a casino marker, from casinos by filling out an application on-site; legally, this is handled differently from a short-term loan.
According to online materials from Las Vegas attorney Joel Mann, “Under Nevada law, casino markers are not considered a loan. Rather, they are like a check that you have written to the casino. If you do not have the money in the bank to cover a marker when it comes due, you can face serious criminal charges.”
Some people who can’t control their gambling problem have gambling disorder, a diagnosable condition that’s associated with a higher rate of suicide.
The recent online-offline casino cannibalisation debate that took place (albeit by proxy) between Deutsche Bank and Eilers & Krejcik (EKG) in the US was an illustration of how important the topic is to discussions around online casino regulation and is just as relevant to French and wider European developments on the issue.
The report was carried out by EKG on behalf of the US online gambling trade body iDEA Growth and surveyed “how the legalization of online casino gambling affects land-based casinos” in the US. It found that online players tended to be younger than their offline counterparts, but operators that have both online and offline offerings “have not observed cannibalization”.
The Before-&-After
Comparing the growth rate of land-based casino before and after Online Casino was introduced, the report found that “in all six states (where online is regulated in the US), land-based casino revenue was positively impacted by the introduction of online casinos”.
In France, the potential cannibalisation of land-based casinos by digital casino portals is a key issue in the debates around online casino regulation. Debating the topic in the French parliament in Feb23, the gambling regulator Autorité Nationale des Jeux (ANJ) said land-based casinos would suffer a 30% hit to their revenues in the event of online regulation.
In the US, the regulatory set up in the leading online casino states of New Jersey, Michigan or Pennsylvania requires online operators to partner with offline casinos. That system also applies in Europe in countries such as Belgium and Switzerland.
In reference to the EKG report, the DB team commented that while some observers “appear to (be) doing mathematical acrobatics to arrive at a certain conclusion, we believe the data speaks for itself”… “While it may not be what some want to hear,” the analysts added, “in one paragraph and one chart, we have shown, for some time, and show here again, that iCasino is in fact having an impact on B&M casinos.”
DB added the “underperformance” of land-based casinos in New Jersey, Philadelphia and Michigan, the three states “that actually matter” as they “generate >90% of 2023 iCasino GGR, is so clear that we struggle to see how, but not necessarily why, one could reach a different conclusion”.
In the past year and relative to 2019, the performance of B&M casinos in iCasino states is +0.6% compared with +11.7% for B&M-only states. The issue also fits into broader debates around whether (poorly-drafted) regulations push players towards illegal operators.
Without doubt it will reappear in France in the coming months and observers will also note issues like the different age groups that online and offline casinos attract. And with PMU joining AFJEL this week, stakeholders will be gearing up for some serious discussions on all these topics.
… think about it
On October 3, 2023, Coljuegos committed to evacuate the processes that were dammed, with the deadline being the 26th of the same month, something that did not happen and as of today, February 27, 2024, has not been achieved due to multiple factors, which They are not attributable to the operators.
What has hindered the bulk of the procedures is the updating of documents that rest in the folders of each of the contracts and that the analysts judiciously review, which is the duty, but which overflows with requirements for the operator to submit documents that are repeatedly last minute before the contract expires, understanding that the person who could issue them may be another state entity that has specific processes and times making their prompt achievement impossible. Added to the above is the inexperience of the analysts themselves, who despite the ISO 9001 certification granted to Coljuegos did not have the knowledge transferred adequately and must consult the Legal Department that decides at its own discretion the interpretation of the lack and which falls into outbursts most of the time.
In the third two months of 2022, an Internal Quality Audit by Bureau Veritas certified the 16 Coljuegos leaders from the areas involved who participated under the MIPG model - Integrated Planning and Management Model - many of whom are no longer in the entity, But this does not prevent user management from being traumatized given that the ISO 9001 standard ensures the continuity of processes, the application of which is currently non-existent and does not allow discussion.
“Trust and efficiency are my proposal, and it is not something capricious.”
Trust: if there is seniority in the contracts, if the operator has a track record of decades, why not give the opportunity to receive approval or renewal of the contract, adding an additional yes where a reasonable time is given to correct the novelty? This term, equivalent to the delay in which the processes are, this is not the panacea but it unlocks the bottleneck, thus achieving efficiency, which inevitably generates progress, improving the management indicators that will be reflected in the performance report. accountability and in the upcoming re-certification of ISO 9001 for Coljuegos.
Let's push to the same side,
think about it …
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