Situated in the northern part of the Lesser Antilles in the Caribbean. This Caribbean country with Antigua, Barbuda, and Redonda is one of the fastest-growing gaming and sports betting jurisdictions with fully transparent and liberal rules. This paper seeks to explain the bookmakers gambling laws and legislation of the country, the regulatory bodies, banned and allowed types of bets, licenses, and fees among others, but also a focus on the vibrant Antigua and Barbuda Bookmakers and sports betting culture.
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Table of Contents
Summary of Key Events
History of Gambling Laws & Legislation
Antigua and Barbuda came up with gambling regulations at the mid-1990s in order to provide a legal framework for online gambling. The regulation began with IFIPA’s Interactive Gaming and Interactive Wagering Regulations of 1994 that formed the basis of a strong and ever expanding framework.
Key Legislative Milestones:
- Interactive Gaming and Interactive Wagering Regulations (1994): This regulation provided the initial specifications of the licensing process and guaranteed the compliance with the international principles of non- discrimination and openness. This was a rather bold step that helped Antigua and Barbuda to become one of the leading countries in the sphere of online gambling.
- Money Laundering Prevention Act (MLPA) – 1996: This act requires the implementation of very comprehensive measures against money laundering such as, identification of customers and monitoring of transactions.
- Prevention of Terrorism Act (2005): This legislation mandates online casinos to educate the employees about the identification and prevention of the funding of terrorism with supervision from the FSRC.
- Gambling Act – 2016: This act created the Gambling Authority of Antigua and Barbuda as the central regulatory body, to regulate and combat unlawful online gambling, and regulate online gambling related transactions and advertisements.
Regulatory of Antigua and Barbuda Bookmakers
The general official authority that controls the provision of gambling services in the country of Antigua and Barbuda is the Division of Gaming within the FSRC. This division deals with the licensing of Operators, enforcement of standards and ensuring that the Operators conform to the set regulations.
Types of Gambling Licenses:
- Interactive Gaming License: For operators hosting casino games including slot, roulette, poker and other table games on their website.
- Interactive Wagering License: That is for the operators who provide services in the form of sporting events betting through the internet.
- Gaming Operator’s License: It is necessary for operating the land-based casinos enabling a number of gambling options including lotteries and poker tournaments.
- Sub-License: Enables the smaller firms to work under the infrastructure and the licensing rights of the main licensee especially for new entrants into the market.
Bookmakers Forbidden and Allowed Bets
Antigua and Barbuda bookmakers are permitted to offer a wide range of betting options, including:
- Sports Betting: In football, basketball, baseball, golf, motor racing and many other sports.
- Casino Games: These are the list of games; slots, roulette, blackjack, poker and other table games.
The common examples of the prohibited bets are those placed on political markets and other occurrences that can be considered as unscrupulous or too high-risk.
Licensing and Charges of Bookmakers
Licensing Process:
- Interactive Gaming License: This one demands the completion of lengthy paperwork, criminal checks, and the observance of certain depictions of operation.
- Interactive Wagering License: Similar approach with the focus on the sports betting operations.
Fees:
The initial costs and the costs of renewals annually are another factor that depends on the type of license that one is applying for as well as the size of the operation. These fees are designed in a way that only serious players get into the market thus increasing the level of integrity and reliability of the market.
Bookmakers Gambling Taxes
To encourage fair participation while at the same time encouraging competition, Antigua and Barbuda has put in place certain taxes on the gambling operators.
Tax Rates:
Land-Based Gambling Establishments:
- A 8% tax on gaming machines and tables which is computed on the basis of players’ losses.
- 8% of the sports betting and wagering revenues to be taxed.
Online Gambling:
The only percentage based tax is for online lotteries and the tax varies depending on the type of lottery being offered.
Sport Betting in Antigua and Barbuda
Sporting activities betting can be described as one of the biggest parts of the gambling business in Antigua and Barbuda. Due to colonization, the country has embraced many European sports; however, cricket is the most dominant sport.
Sporting Event Glory Milestones:
- The event of interest is the 2007 cricket world cup held in Antigua from the 11th of march to the 28th of April.
- At the Antigua Recreation Ground Viv Richards scored the fastest Test Century.
- Brian Lara set the World Test Record two times in Antigua.
- The Antiguan national football team has been competing in the World Cup qualifiers since 1974 and up to date.
- The Antigua Barracuda FC was established in 2011 and is part of the USL Pro league playing in the United States.
Conclusion
Over the years, the country has gained recognition as a hub of gambling operators especially in the field of online gaming and sports betting. Having strong and clear regulation, multiple possibilities of obtaining a license, and the principles of openness and non-fraud, it creates a suitable condition for bookmakers and sports betting lovers.
FAQ on Antigua and Barbuda bookmakers
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