Costa Rica Gambling Jurisdiction
Costa Rica is without a doubt one of the most stable and safest countries in Central America. The country is famous for its biological diversity and geography that ranges from lush tropical rainforests to active volcanoes and windswept mountain tops.
It has the best developed conservation program in Latin America, since one fourth of the country is protected by the government and 12% of the total area lies within 25 National Parks. Laid back and friendly people plus exquisite cuisine creates the perfect tourist destination.
Take the above mentioned factors into account and you have a recipe for a perfect internet gambling jurisdiction. Presently just over 400 internet casinos have established offices in Costa Rica. At this stage the Costa Rican government still has to find a way to properly tax and regulate internet casinos. Due to the government’s inability to regulate internet gambling it unfortunately also creates a breeding ground for rogue internet casinos that are not tested, or monitored on a regular basis.
President Chinchilla said that he’d like establish a gaming control board for internet gambling operators. The Ministry of Finance plans on taxing internet gaming of 0.5 % of gross income to help fund the control board and to impose a 5 % tax that would combat crime. The new board would report to the Minister of Interior and Police, their responsibility would be to process six-year gaming licenses that will cost internet gambling sites in the vicinity off USD $50,000 per annum. Gambling regulation has proved to be a futile attempt on the government’s part thus far and might still take many years before it’s regulated.
With regard to the above. Out of all the gambling jurisdictions Costa Rica is by far the least reputable. When it comes to enforcing its gambling policies the government is very relaxed further exacerbated by corrupt officials. The country is also a breeding ground for rogue online casinos. These casinos are renowned for not paying their players and employees.
If you’re new to the world of online gambling and you see that the site you’re about to wager at is licensed in Costa Rica tread with caution. I’m not saying that all casinos licensed here are dubious but discretion is the better part of valour.[addtoany]