Honduras is a country in northern Central America sharing its coastlines with the Caribbean Sea in the north and the Pacific Ocean in the south through the Gulf of Fonseca while sharing its land borders with Nicaragua and El Salvador. A rich leisure profile of the population with some new trends: interest in gambling. In this article, the reader will discover the legal framework for Honduras bookmakers and sports betting as well as the laws, authorities, and permits.
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Table of Contents
Summary of Key Events
Honduras Legal Environment for Bookmakers
Gambling Laws and Legislation
The regulating of land based gambling in Honduras is under the Honduran Institute of Tourism (Instituto Hondureño de Turismo – IHT). The main regulation for gambling is provided by the “Ley de Casinos, Juegos de Envite o Azar” enacted through decree 488 in 1977. This law permits gambling in physical locations but does not cover gambling over the internet; thus, this sector remains outside the law.
Legal Frameworks of Bookmakers Gambling in History
- 1977: Passage of the Ley de Casinos, Juegos de Envite o Azar making gambling legal in an effort to boost tourism and to create an another source of revenue for the country.
- 1980s-Present: Changes and modifications of the initial law to suit the advancement in gambling activities.
Regulatory of Honduras Bookmakers
- Instituto Hondureño de Turismo (IHT): The only institution that has a control over all gambling related activities, including licensing of the land-based gambling establishments.
- Loterías Electronicas de Honduras S. A. : Controls the affairs concerning lottery operations, including being the only legal company that is allowed to operate in this business.
Charges and Permitting for the Bookmakers
Honduras Bookmakers must acquire their license from the IHT in order to legally function as a Bookmaker. The process is quite comprehensive and seeks to meet the set national laws and standards. The types of licenses available include:
- Casino Licenses: To the operators providing services for such games as table games, slot machines, and video poker.
- Sports Betting Licenses: The specific licenses for the bookmakers who want to provide the sports betting services.
The outlined licenses may be charged differently depending on the size of the operations that one intends to carry out. In general, the tax rate for casinos and betting establishments is 20% of the gross income of the business minus the payouts.
Taxation on the gambling business.
Gambling activities such as casinos and bookmakers operating in Hondurus are taxed at 20% of their gross earnings less payouts. Furthermore, establishments might be subjected to taxes of between HNL300 000 and HNL700 000 based on the revenue of the business.
Sports Betting in Honduras
Betting is also a popular activity that is done in Honduras, everybody can find a bookmaker and place a bet on different sports. Here’s a detailed look at the sports betting landscape:
Allowed and Prohibited Bets
- Allowed Bets: It covers on all the aspects of sports betting including traditional sports such as football, basketball and many others.
- Prohibited Bets: Online betting, fantasy sports betting, and social gambling are not specifically prohibited by the law thus not regulated at all.
Bookmakers and Betting Shops
Some of the bookmakers that are based in Honduras include physical shops, and stands that offer sports betting services. These venues offer a variety of betting choices; therefore, accommodating to the needs of the local bettors.
Sporting Event Glory Milestones
Honduras has a rich history of sports achievements that have significantly influenced the sports betting landscape:
- 1921: The Honduras national football team first took to the international arena against Guatemala.
- 1981: Honduras got the victory in the CONCACAF Championship.
- 1991: The national football team was the first runner up in the CONCACAF Gold Cup.
- 2014: Fifa world cup tournament was also attended by Honduras.
- 2012: The Honduran team claimed their first Olympic medal in the Men’s 4x400m Relay event.
Conclusion
Gambling especially through the bookmakers and sports betting has greatly shaped the entertainment industry in Honduras. Thus, the framework of the regulation, which has been developed with the emphasis on land-based gambling, can be used as an effective tool for the regulation of different types of gambling. In the future, there may be possibilities to further develop and define the legislation of online gambling and other rapidly developing types of betting.
FAQ about Honduras Bookmakers
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