The US Virgin Islands, an unincorporated territory of the United States of America is located in the Atlantic Ocean and on the Caribbean Sea. Yet, the picturesque views are accompanied by the developed gambling sphere with a vast number of laws and regulations and authorities that oversee them. This paper analyses the legal regulation, historical background, recent regulations and potential changes, the authorities and modern state of sports betting and US Virgin Islands bookmakers.
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Table of Contents
Summary of Key Events
Gambling Laws of US Virgin Islands Bookmakers
The Development of the Laws on Gambling.
Legal casinos in the US Virgin Islands started operating in 1995 through the Virgin Islands Casino and Resort Control Act. This legislation sought to boost the economy of St. Croix through the permitting of casino gambling. Southland Gaming of the Virgin Islands received the only license to offer slots and VLTs throughout the islands in 1998.
Significant milestones in the evolution of gambling laws include:
- 1995: Virgin Islands Casino and Resort Control Act, enacted.
- 1998: The exclusive rights given to Southland Gaming for the slot and VLT business.
- 2001: The bill to regulate the betting and gambling through the Internet.
- 2010: Permissive of racino gambling which entails the integration of race tracks with casinos.
- 2013: The US Attorney General expressing his/her approval for the legalisation of internet gambling.
Current Legal Framework
Gambling in the US Virgin Islands is regulated under several key legislations:
- Virgin Islands Internet Gaming and Internet Gambling Act: Outlaws online gambling.
- Virgin Islands Casino and Resort Control Act of 1995: Supervises the use of land based casinos.
- Wire Act of 1961: It was re-authorized in 2011, and it paved way to the legal acceptance of online gambling at the state level.
- Professional and Amateur Sports Protection Act (PASPA) of 1992: Rendered unconstitutional in 2018 allowing for sports betting but as of now not availably in the US Virgin Islands.
Regulatory Bodies of US Virgin Islands Bookmakers
The chief gambling regulator in the US Virgin Islands is the Virgin Islands Casino Control Commission (CCC). The Division of Gaming Enforcement (DGE) is the oversight body that regulates the casinos’ operations, deals with the applicants, and enforces the New Jersey casino laws.
Licensing and Fees
- Licensing: It is important that any entity that wants to offer bookmaking services get a license from the CCC. The DGE undertakes a vigorous assessment of the applicants to establish their suitability in matters of integrity and honesty among others.
- Fees: Some of the costs include the licensing fees and these fees depend on the sort of business that one is conducting. For online gambling, master service providers are subjected to an annual tax payment of 2. at a 5% commission on the gross revenue and 1% for the licensees. 5%.
Taxes
Land-based Casinos:
- 8 percent on gross revenue for the first two years.
- Ten percent for the third and fourth year.
- 12% tax for the next years and so on.
Online Casinos:
- 6% of gross revenue for first two years and 10% for the third year and every subsequent year.
- The pass rates were 8% for the third and fourth year students respectively.
- 10% for subsequent years.
Allowed and Prohibited Bets
Gambling, which includes slots, VLTs, and casino games, is allowed; however, sports betting is not allowed yet. Still, the repeal of the Professional and Amateur Sports Protection Act (PASPA) in 2018 have created a chance for the legalization of sports betting in the future.
Sports Betting in the U.S. Virgin Islands
As of now, you cannot place your bets on sports in the US Virgin Islands. Despite the huge potential and the federal laws enacted to this effect, the territory has not explored this potential fully. Yet, it is in the future that the sports betting industry may become part of the already developing gambling business in the islands.
Sporting Event Glory Milestones
Some notable moments in sports history relevant to the US Virgin Islands include:
- Some of the proud achievement that I consider as unique are; Peter Holmberg winning the silver medal in sailing at the 1988 Summer Olympics.
- The life and achievements of Tim Duncan in basketball especially with the San Antonio Spurs.
- South Carolina’s Aliyah Boston as the NCAA women’s player of the year.
- The West Indies team ‘s inclusion of Hayden Walsh Jr. in the list of players for the international cricket.
- Brooklyn Nets’ Draft Pick Nicolas Claxton Entering the NBA.
Conclusion
The US Virgin Islands are at a rather unique point regarding gambling and sports betting. Having a good foundation in casino gaming and the latest advancements that opens up the possibility for sports betting, great opportunities can be expected in the gambling industry.
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