What has happened to the casino industry in Venezuela in the last year?
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Loading... - Randy Watson
- 06 Feb 2023
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After the execution in 2011 of an order to close all bingo halls and casinos, the gambling industry seems to have turned 180 degrees
What has happened in Venezuela is a very particular case. Since, after the execution in 2011 of an order to close all bingo halls and casinos, the gambling industry seems to have turned 180 degrees.
Thus, in a process that included prohibitions and the acceptance of clandestine businesses by the population, today everything seems totally different. To such a level that some sites are even beginning to provide services for online participation. In this sense, now we would like to give you a small glimpse of everything that has happened in the casino industry in Venezuela during this last year.
The traditional lottery game is back
To the delight of Venezuelans, the lottery game has made a good comeback; although, adapting some slight modifications, perfect for the new times. But, to understand it better, you have to put it in perspective.
As everyone knows, the country's economic conditions are not the best. And, for many Venezuelans, it did not make sense to acquire a raffle ticket, mainly due to the volatility of prices and the loss of purchasing power in the bolivar. Conditions that caused raffles like the Triple Gordo had to be suspended.
But, given a monetary improvement in the country and the opportunity to use the dollar as a payment option, an opening towards better opportunities has been achieved. Thus, since 2021 the Triple Gordo is back; while, for this 2022, winners are even already announced in dollars. While, the value of the ticket has a cost of only 5 dollars.
In the same way, the conditions have been created to begin providing a service to participate in online games. Although, possible frauds that are organized from abroad have also been detected; Therefore, the authorities recommend the use of reliable and secure applications.
In the end, all this has stimulated the industry within the country. However, since these changes are so recent, it is not yet possible to have an assessment of the economic impact that the industry will generate. In the same way, it is not yet known if the tax levy will promote the development expected by the authorities. Read More…
