Mexico Proposes Bill to Regulate Online Gambling
May 20th, 2013 by Site Admin
Mexico lawmakers are considering a new bill that could legalize online gambling. The new bill would override the 1947 law that currently regulates the country’s gambling industry. Senator Maria Espinoza, the bill’s sponsor, is confident that the new law would be beneficial to the nation’s economy.
Espinoza said that the existing law is outdated. She said that the new bill will make it easier for regulators to oversee companies that are providing gambling via the Internet. She said that the new law would also help the government shut down a number of companies that engage in money laundering and other illegal activities.
The new bill calls for the establishment of a National Gambling Commission. The new regulator would be responsible for reviewing new licenses and ensuring gaming providers adhere to the new laws. The NGC would also be responsible for investigating player complaints. Players would have to submit their complaints within a specified time frame to have any recourse. The current draft of the bill stipulates that the government would need to create the new regulator within six months.
The new law would also bar some citizens from being able to gamble. These citizens may have voluntarily requested being banned from online gambling or they may have been incompetent by a court.
The new law would be a significant move towards legalizing online gambling in Mexico, but it could carry consequences for many gaming providers. The law stipulates that companies must hold a license for a land based casino to be eligible to provide online gaming. Some critics have said that the bill is draconian because it would force many providers that already offer online gaming to Mexican citizens to leave the market.
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