The Dominican Republic Introduces New Online Gambling Legislation
The Dominican Republic has passed legislation that will introduce a new set of regulations for the casinos and online gambling industry in the jurisdiction.
LISTEN TO THIS ARTICLE:The new legislation is Resolution 136-2024 which was introduced by the Ministry of Finance of the Dominican Republic and was signed into law by Minister José Manuel Vicente. The passing of this law is the culmination of months of proposals with the changes finalized in February.
The new law is a comprehensive set of guidelines for the gaming industry that covers 36 pages and contains seven chapters with 36 articles. The Directorate of Casinos and Games of Chance has been tasked with enforcing the new gaming regulations.
Cost of Licenses
Under the terms of the new legislation, the cost of the licenses for each type of betting activity is outlined, with an online casino license costing DOP 20,473,481 ($346,000). A sports license costs around DOP 15,355,111 ($260,000), and a license for other betting activities comes in at DOP 10,236,740 ($173,000).
The length of all gambling licenses will be five years and there is a stipulation that the license cannot be transferred for the first three years after approval.
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Requirements to Obtain a Gaming License
As part of the new legislation, the statement outlined the main points gaming operators must undertake to secure a gaming license. This includes the operators must have robust security and operational procedures in place to meet the stringent application process.
The regulatory body has also made it a requirement that to obtain a gaming license the companies must have a comprehensive strategy for responsible gambling. The operator should include a program for self-exclusion from gambling and demonstrate its commitment to providing its customers with a safe environment to gamble responsibly.
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