Home	Tutorial	Online Casino Reviews	Best Online Casinos	Casino Software	Casino News

Online Casino Gambling --- Casino News

Belize to Regulate Online Casino Sites

Central America and the Caribbean are two very hot regions of the world right now for the licensing of online casinos. Europe has most of the global licensing jurisdictions but there are several Central American and Caribbean nations who have fully regulated their gambling markets so that they can license online casino gambling companies and bring in profits from having these gambling groups actually operate out of their country. Belize is the latest country to go down the path toward licensing and the first steps have been taken already. Belize previously passed the Regulations of the Gaming Control Act which was adapted from similar regulatory documents in other Caribbean countries.

This Control Act is the primary legislation that will allow the Belize Computer Wagering Licensing Board to now accept applications for licensing and then license these online casinos for the international gambling industry. Gambling companies receiving Belizean licensing have a few hurdles, or rather specifications of the license. Namely, these online casino companies must maintain a bank account in Belize and at the Central Bank of Belize. This requirement of the gambling groups is seen as a safeguard for the licensing board so that the government can properly monitor funds and withdraw required taxes and licensing fees.

This is a new move for Belize even though the Control Act came into effect in 2006. Only lately have the Belizean officials begun to fully license these sites and take advantage of the licensing capabilities. Although Belize requires a hefty annual licensing fee, the county has very few taxes on foreign business and this works in favor of online casinos licensing and operating out of Belize.