Vanuatu, an island nation in the western South Pacific has greatly advanced in the sphere of gambling and sports betting. Due to its advanced legislation and a strong regulatory system, Vanuatu is becoming a reliable jurisdiction for receiving gaming licenses. In this article, information about the gambling legislation of the country, the development of legislation, the regulators, the banned and allowed types of bets, the licensing costs, the taxes paid, and the key events of the Vanuatu bookmakers and betting market will be described.
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Table of Contents
Summary of Key Events
Gambling Legislation History in Vanuatu
The above shows that Vanuatu has gone through different steps in a bid to establish proper legislation in the regulation of gambling activities. Here are some key dates and legislative milestones:
- 1989: The Lotteries Act of 1989 was passed in the laws of the country thus creating a legal framework for legal gambling.
- 1993: The Casino Control Act of the year 1993 legalised the casino gaming and the body that has been given the responsibility of regulating the casinos is the Vanuatu Department of Customs and Inland Revenue.
- 2000: The Interactive Gaming Act was signed, and thus, Vanuatu became one of the first countries that introduced the legislation on online gambling.
- 2003: The laws of Interactive Gaming were revised to include licenses for sports books and betting exchanges; Asia Pacific Totalisators Ltd. was granted the first Limited (Sports Book) Interactive Gaming License.
Vanuatu’s Regulatory Agencies
The regulation of gambling activities in Vanuatu is divided among various agencies to ensure comprehensive oversight:
- Vanuatu Gaming Control Board (VGCB): VGCB is the body that is in charge of issuing and regulating gaming licenses in Vanuatu and it follows the IAGR Code of Conduct.
- Vanuatu Department of Customs and Inland Revenue (DCIR): Responsible for regulating of casino gambling and possesses the power to issue casino licenses in accordance with the Casino Control Act.
Prohibited and Allowed Bets
Although Vanuatu permits most types of betting, some measures are provided to make sure of the reasonable gambling:
- Prohibited Bets: The kinds of bets that could be viewed as ethical or risky are not allowed.
- Allowed Bets: Covers casino and gambling, sportsbook, lotteries, and other related types of online gambling.
Vanuatu Bookmakers Licenses and Fees
Vanuatu offers a variety of licenses tailored to different gambling activities, each with specific fees and requirements:
- Casino Licenses: The casino operations are regulated by the Casino Control Act of 1993 with a amendment of the year 2005 in terms of tax exemptions.
- Interactive Gaming Licenses: It covers the licenses for the sports betting and general online gaming. Fees are structured as follows:Fees are structured as follows:
- Sportsbook Operators: A one time application fee of USD 35,000 and an annual fee of USD 30,000.
- Interactive Gaming License: An application fee of USD 75,000 with an annual fee of USD 50,000.
Taxes and Financial Obligations
Vanuatu’s tax structure for gambling operators is designed to be attractive while ensuring compliance:
- Interactive Gaming Tax: 2. An administrative fee of 5% of the gross monthly earnings and a 0. One percent turnover tax on fixed-odds betting.
- Exemptions: No VAT on the revenues from interactive gaming whether onshore or offshore. Some of the benefits include, VAT charged on business inputs by the licensees is reclaimable and there are no company or personal income tax in Vanuatu.
The Rise of Sports Betting in Vanuatu
Sports betting in Vanuatu has developed due to the presence of proper legal framework and some good licensing options. This has made the country to be a preferred destination for bookmakers who want to conduct their business in the South Pacific region.
Sporting Event Glory Milestones
- 1983: Competetion in the Pacific Games that was held in Samoa.
- 1988: First time India is taking part in the Olympic Games.
- 2003: Tony Kaltack takes a gold medal at the South Pacific Games.
- 2008: The women’s national football team of Vanuatu becomes the champion of OFC Women’s Nations Cup.
- 2011: The men’s national rugby sevens team of Vanuatu becomes the Oceania Rugby Sevens Championship winner.
Conclusion
This paper aims to provide an analysis of the liberalized gambling laws especially in the area of online gambling and sporting activities in Vanuatu making it one of the most favorable countries in South Pacific. Despite the fact that Vanuatu has a well-developing legal base that regulates the bookmakers and gambling operators’ activity, attractive tax environment, and the policy of the country is based on the principles of transparency, this jurisdiction still attracts many interested in opening their business.
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