Bolivia is a landlocked country in South America with Brazil, Peru, Chile, Argentina, and Paraguay being the neighboring countries. Bolivia like many other countries of the world has experienced a shift when it comes to gambling where some forms of betting are legal while others are prohibited and others yet are regulated. This article concentrates on Bolivia bookmakers, including sports betting, gambling regulation, and license, as well as the country’s accomplishments in sports.
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Table of Contents
Summary of Key Events
Bolivia Bookmakers and Gaming Landscape
The history of gambling in Bolivia can be characterized as rather stormy; it started in the second half of the 19th century. Gambling was allowed in the society between the year 1871 and 1938; however, it was outlawed starting from 1938 to 1996. The Bolivian government started to ease these restrictions and this is why we have a controlled gambling scenario as of today.
Governing Bodies and Regulation
The first and only body responsible for the regulation of gambling activities in Bolivia is the Autoridad de Fiscalización del Juego (AJ) that was created in the year 2011. The AJ is the body that has the responsibility of issuing licenses and regulating all forms of gambling in the country whether through the physical establishments or through the internet.
The Chronological Development of Legal Frameworks on Gambling
- 1996: The government allowed 200 slot halls which were presented as bingo halls for a legal cover. They were allowed to operate and go free so long as they abided by the rules and paid gambling taxes.
- 2002: Casinos were legalized, but this did not become popular at all and to this very day only a few small casinos are in existence.
- 2010: The enhancement of Law No. 060 that prohibited unlawful gambling including those that are online based.
- 2011: Lifting of the ban on gambling, followed by tougher measures and increased taxes driving out most foreign competitors.
Bookmakers Licensing and Fees
Getting a gambling license in Bolivia is quite a complicated process that is regulated by the AJ. As for the legal requirements, the process is rather unambiguous; however, the number of licenses granted has been rather low. It said only two licenses were issued in 2014 and no further licenses have been granted after that.
- Licensing Fees: All the fees for the acquisition of a bookmaker’s license are not fixed and are likely to change with time due to a change in the existing rules and regulations.
- Gambling Taxes: The tax rate on lottery and gambling games is 30% on the annual revenues. Also, business promotions involving element of luck are taxed at 10%.
Forbidden and Allowed Bets in Regards to Bookmakers
Bolivia is different in this case because it has very strict gaming laws particularly on unregulated gambling. Although the activities such as traditional bookmakers and sports betting are legal, online gambling is still not clearly defined in the law. While there are no specific laws against online gambling in Bolivia, there is also no specific legislation that allows it; however, the government does not seem to require foreign-based online gambling websites to halt access to players from Bolivia.
Impact of Stricter Regulations
As a result of the suspicious foreign investments especially from the Russian investors in the year 2009, the Bolivian government tightened its rules in 2011. Precautions for these regulations entailed increased taxes as well as supervision, which led to the shutdown of some foreign based gambling firms.
Bolivia Sports Betting
Sport betting is a widely practice form of gambling in Bolivia and soccer is the most popular sport. The Bolivian national soccer team is the official men’s soccer team that plays for Bolivia in international competitions since 1926. Bolivia has not gone past the first round of any World Cup and despite this the country has brought up talents like Marco Antonio “El Diablo” Etcheverry and Erwin Sánchez.
Sporting Event Glory Milestones
Bolivia has a proud sporting history, with several notable milestones:
- 1963: Tourism marketing of football teams in South American Football Championship.
- 1978: The Bolivian Footballer of the Year award is captured by Marco Antonio Etcheverry.
- 1994: Tennis Player Jaime Yzaga Wins the French Open.
- 2010: The Bolivia National sub-15 football team clinches the Youth Olympic Games gold in football in Singapore.
- 2019: Bolivia becomes a winner of a gold medal in the men’s 4x400m relay at the Pan American Games.
Prominent Bolivian Athletes
Bolivia has produced several world-class athletes who have excelled in various sports:
- Marcelo Martins Moreno: A popular footballer famous for his sprinting capabilities and a goal Poacher who has netted more than a hundred goals in his playing career.
- Benjamin Paredes: An international swimmer who has on her resume several medals, including a gold medal in the 200m freestyle event at the 2019 Pan American Games.
- Juan Carlos Morales: It is a well known climber, the first Bolivian to climb the Seven Summits.
- Nelson Siles: This is a professional cyclist who has been triumphant in many competitions such as the stages of the Tour de France and Giro d’Italia.
Conclusion
The history of Bolivia’s gambling industry is characterized by many changes in the legal framework, while the country has strong traditions in sports. Nonetheless, the country has not stopped in its efforts in the development of its policies as regards gambling; sports betting still remains to be one of the most practiced forms of gambling. Bolivia is now considering the legalization of online gambling, thus, expected to gain more tax revenues and a better controlled industry.
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