El Salvador is a country in the northern part of Central America and has a long history and colorful culture. It may not be famous for gambling and especially in relation to El Salvador bookmakers and sports betting, however El Salvador has a rather interesting and dynamically developing attitude towards betting. This comprehensive article will identify the specifics of El Salvador’s gambling legislation, the evolution of the laws, the regulating bodies, types of bets allowed and prohibited, and the sports betting market.
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Table of Contents
Summary of Key Events
Development of Gambling Laws in El Salvador
Looking at the history of gambling laws in El Salvador, one has to go way back in the late 19th century. Here are key milestones:
- 1882: All games of chance were and remain prohibited. Nevertheless, this prohibition has not been strictly adhered to even up to the present.
- 2002: The local congress prevented the legalization of gambling, so gambling remains prohibited with the exception of lotteries.
- 2017: The National Lottery said it is in the process of coming up with a gambling legal framework that will cover all sectors including casinos.
- June 2020: Loteria Nacional de Beneficencia de El Salvador (LNB) said that it is joining forces with Tenlot Group to offer new products such as online casino games and sports betting.
- December 2021: The Ministry of Finance submitted to the Legislative Assembly a new law regulating the National Lottery in the regulation and management of sports betting and online casino games in the country.
Gambling Regulatory Agencies
The only main institution regulating the gambling in El Salvador is the Lotería Nacional de Beneficencia (LNB). The LNB is responsible for:
- Overseeing, controlling and supervising all the legal means of gambling.
- Issuance and refusal of permits for gambling business activities, the validity of which is 10 years.
- Supervising further revenues from gambling to guarantee that these amounts will be used for improvements in health and social services.
Allowed and Prohibited Bets
The only form of gambling legalized in El Salvador is through casino and the sale of lottery tickets. However, other forms of gambling are there, mostly clandestine. Here’s a breakdown:
Allowed Bets
- Lottery: Owned by the Lottery Nazi Board (LNB), it comprises of the conventional or spot, instant or fast action, and electronic lotteries.
- Casinos: The types of casinos that are legally operating include; Casino in Guadalupe and Monte Carlo Casino in Santa Ana which have table games and slot machines.
- Sports Betting: It has been legalized with the help of partners like the Tenlot Group which facilitates online sports betting and in-play betting.
Prohibited Bets
Despite the legal framework, many forms of gambling remain officially banned, including:
- Unlicensed online gambling platforms.
- Unauthorized betting establishments.
- Other forms of gambling that are not connected with the lottery are still technically prohibited though they are not punished.
El Salvador Bookmakers Licenses and Fees
To get a gambling license in El Salvador the LNB has provided the following guidelines that act as a framework. Key points include:
- License Duration: The permission is given for a time frame of 10 years.
- Application Process: The operators have to submit their applications to the LNB within a specified time frame together with all required documentation and payment.
- Fees: There are specific fees that are charged for the license although these are variable and one has to consult the LNB in this case.
Gambling Taxes
The following are the taxes that Gambling operators in El Salvador are subjected to pay. Here’s a detailed breakdown:
- Corporate Income Tax: 30% of the gross gambling yield of gambling operators.
- Withholding Tax: Dividends, interests and royalties are paid to residents of tax havens, special withholding tax rates of 25 percent apply on dividends, 25 percent on interest and 25 percent on royalties.
- VAT: It is 13%; this is the standard Value Added Tax.
El Salvador Sports Betting
It is legal and continues to expand in El Salvador with new opportunities for the operators and bettors in the sports betting industry. Here are some key aspects::
Regulatory Landscape
- Partnerships: In June 2020, the LNB signed an agreement with the Tenlot Group to share in the management of the online games and sports betting services.
- Online Presence: They unveiled Dale less than a year after that. it operates an online sports betting product with in-play and virtual sports betting, as well as casino and live dealer games.
- Legislative Support: The december 2021 law amnded by the Ministry of Finance is an attempt to further control and expand the regulation of web-based betting activities in the country thus giving the National Lottery the power to control all sports betting and online casino games.
Sporting Event Glory Milestones
Over the years El Salvador has had reason to rejoice over athletic triumphs. Some notable moments include:
- 1970 & 1982: The national football team of the country has made it to the FIFA world cup.
- 1993: The El Salvador national football team clinched the CONCACAF Gold Cup.
- 2002: The national basketball team had a golden performance at the Central American and Caribbean games this year.
- 2010: The women’s volleyball team emerged the overall champions in the Central American Games.
- 2014: The national baseball team became the gold medalist in the baseball event of the Central American Games.
Conclusion
El Salvador has a rather checkered history of gambling with many bans, changing rules, and new cooperation deals to establish and develop the market. With the progressing experience of the country in gambling, especially in terms of bookmakers and sports betting, the opportunities for both the operators and the bettors will increase. Thus, to be in the know and remain profitable in the ever-evolving world of El Salvador Bookmakers, it is best to stay updated.
Common Queries about El Salvador Bookmakers
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