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In a Gambling Utopia: South America

The South American online casino gambling market is pretty unique – in fact, there isn’t much of one to speak of right now but there is a lot of potential out there. Much of the same problem that is found in other nations is also found in the individual nations that comprise South America, the countries want to perpetuate gambling monopolies as a way to secure all of the gambling funds for themselves. There is a fundamental problem with this line of thinking though, it closes the door to international trade and to the international funds that keep the global economy moving. Foreign online casinos and internet gambling groups have expressed a definite interest in the South American market but certain countries are either resisting the spread of foreign internet gambling, or are taxing and penalizing those sites that do operate in the market.

Argentina has caused some issues for foreign online casinos and internet betting and gambling groups interested in spreading into the market there. There is not yet a cohesive set of regulations in South America that can be applied for online casino gambling groups entering this unique market. As the market continues to flounder and many foreign countries steer clear for now until new regulations are passed, foreign organizations have begun to issue warnings to South America.

Namely, the World Bank has generally made note of the fact that closed and protected markets are part of the reason that the Great Depression occurred. The World Bank spoke at a conference in Chile and although the comments were slightly generalized the message was clearly concerning the protectionist attitude prevailing throughout South America toward online casino gambling and betting activities.