Venezuela is located in the northern most part of South America and shares borders with the Caribbean Sea to the North, Colombia to the west, Brazil to the south and Guyana to the east. It became independent on the 5th of July 1811. Venezuela is another country with a long history of gambling, and, thus, the gambling regulation environment and the betting sites are quite developed. This article details the betting sites in Venezuela landscape, laws and regulations, major events related to sports betting, and modern trends in online gambling platforms.
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Table of Contents
Summary of Key Events
Gambling Laws in Venezuela and Its Evolution
To comprehend the legal environment of Venezuela’s gambling sector, one has to turn the clock back a few years.
- 1926: The oldest lottery in Venezuela known as the Lotería del Táchira was founded.
- 1997: The first significant gambling law was approved in Venezuela; large hotels were allowed to have casinos to develop tourism.
- 2002: Horse racing was another sporting activity that was affected by the Chavez administration; they prohibited the live relay of the races.
- 2008: The Casino and Bingo permits and license renewals and issuances were stopped by the Ministry of Tourism.
- 2010: They also introduced a new tax scheme in which every slot machine and table game have to pay a monthly tax.
- 2020: Due to this, with the support of the president Nicolás Maduro, the gambling halls were reopened, which had been banned by Chavez.
The Regulatory of Betting Sites in Venezuela
Several authorities are in place within the Venezuelan gambling business to ensure that there are set standards as well as to prevent cheating.
- Comisión Nacional de Casinos, Salas de Bingo y Máquinas Traganíqueles (CNC): Related to gambling in casinos and also slot machines.
- Comisión Nacional de Lotería (CONALOT): It controls lottery and other like games.
- Superintendencia Nacional de Actividades Hípicas (Sunahip): It engages in the business of conducting and operating of horse racing and sports betting business.
- Instituto Nacional de Hipódromos (INH): They have the jurisdictions of supervising the racetracks of the nation.
- Servicio Nacional Integrado de Administración Aduanera y Tributaria (SENIAT): Steward of tax laws concerning gambling services.
The Types of Bets Allowed and Not Allowed in Venezuela
Permitted Bets
In Venezuela, there are legal types of betting:
- Sports Betting: Operates legally and is regulated by SUNAHIP.
- Horse Racing: It is also permitted to make a bet through the system of parimutuel.
- Lotteries: Instant and draw lotteries are allowed.
- Casinos and Bingo Halls: It is allowed in the so called tourist areas.
Prohibited Bets
Still, there are many legal ways to place a bet, yet some types of bets are not allowed.
- Unlicensed Online Gambling: At the moment only the listed operators have a license to offer services in relation to online gambling.
- Certain High-Risk Bets: Certain risks are totally prohibited, for instance, those that concern minors.
Gambling Licenses and Fees in Venezuela
Due to this, the betting sites, other forms of gambling have to secure the right licenses to be able to operate.
- Casino Licenses: Valid for 10 years and only given to hotels situated in the tourism areas and belonging to the five-star category only.
- Online Gambling Licenses: Available only for companies that already have a land based gambling license.
- Lottery Licenses: Operated independently by the Comisión Nacional de Lotería can be found.
Licensing Fees and Taxes
- Casinos: Every slot machine is charged at $700 per month and every table game at $2,100 per month.
- Sports and Horse Racing Bets: Subject to Tax at Source on account of salary between 10% to 15% of the gross salary.
- Bingo: Ranged between 12% to 20% of the gross income.
Popular Betting Sites in Venezuela
There are also many online betting sites in Venezuela today which are all reputable and provide many options for the sports betting fans.
Dafabet
Dafabet Venezuela: It is one of the leading providers with many outlets in casinos and betting shops throughout the country that have many markets for betting and frequent promotions.
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Betandyou
Betandyou Venezuela: This bookie is known for its simple and easy to use interface, a great variety of betting options and also has quite nice bonuses and a pleasant betting experience.
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22Bet
22Bet Venezuela: It has live streaming services, in-play betting, and rather high odds together with a vast range of sports and events to bet on, which is why it is popular among the bettors.
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Milestone Events in Venezuelan Sports
Venezuela as a country has gone through some significant events when it comes to sports
- 1948: It will be for the first time that Venezuela will be participating in the Olympic Games.
- 2011 and 2017: The football squad of the country clinched the Copa America championship.
- 2012: The fencer Ruben Limardo got the gold metal at the London Olympics.
- 2008: In Beijing OlympicsAlbert Subirats emerged the winner of a gold medal.
- 2017: FIFA U-20 World Cup Championship saw the U-20 football team come out champions.
Celebrating Venezuelan Sports Stars
Many sportsmen and women have been produced by Venezuela and they have done remarkably well in different countries.
- Miguel Cabrera: A baseball player of the hall of fame and a multiple MVP recipient.
- Luis Aparicio: The first Venezuelan to be hall of fame of baseball.
- Johan Santana: An a leading pitcher who has won the Cy Young Award several times.
- Ruben Limardo: The winner of the gold medal for fencing at the London Olympics-2012.
- Albert Subirats: Multi-achiever Olympic swimmer.
Gambling Laws in Relation to the Nearby Countries
The laws in Venezuela are not the same as those in the other countries surrounding the country in terms of gambling. Here’s a brief overview
- Colombia: has already legalized online gambling in 2016 and the sector is under the hand of Coljuegos.
- Brazil: Presently, it has rather severe laws, most of which make gambling activities unlawful.
- Guyana: The following types of gambling are allowed: lotteries and casino games that are governed by the Gaming Authority.
Conclusion
Venezuelan gambling is quite an interesting case, when it comes to its history, legal framework, and development trends. It is helpful to know the jurisdiction and rule of the law and which sites are legal to bet on and which are not. To those who wish to go deeper, knowing the latest laws and regulations is very important.
FAQ About Betting Sites in Venezuela
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