Traveling around the world is the goal that we all have. However, it seems that many tourists consider Belize as one of the destinations they need to visit during their life. The reasons why people come to this place are various. They come to enjoy the nice weather, beautiful beaches, and entertaining nightlife. However, as we mentioned in one of our previous posts, one of the top things to do on vacation in Belize is gambling.
It is good for all the tourists that are gambling lovers to know that many gambling options are waiting for them. However, it would also be in their best interest to get familiar with the gambling laws of Belize. You are about to find out everything you should know.
Online and Land-Based Gambling Are 100% Legal
To make things clear, gambling is not something new in Belize. Believe it or not, this activity has been legal since 1981. In other words, gambling became legal immediately after Belize gained independence from Great Britain.
Logically, the laws have changed in the meantime together with the popularity growth of online gambling. The biggest changes were made in the period between 1995 and 2000 when the Belize authorities developed the so-called Computer Wagering Licensing Act. This Act officially became valid in 2004.
Many countries in the world started to provide local gambling companies the necessary licenses that allowed them to legally work in this industry. That is the reason the government of Belize decided to support the national economy by attracting foreign tourists to gamble.
Licenses Are Confirmation the Casino Is Legit
It is good to mention that there are three types of licenses that casinos can get. Those three types are – license for land-based casinos, gaming license for stationary one-armed bandits, and online casino licenses. All these documents confirm that a casino is 100% legit and safe for all the people.
If you like to hang out with people, then land-based casinos are probably going to be a better option for you. There are a few of them such as The Palace Casino, Captain Morgan’s Retreat, and others where you will get the chance to enjoy slots, poker, roulette, and other gambling games. On the other hand, if you are a type of person that needs silence when gambling, online casinos are a much better choice. According to experts from Bestcasinosites.net, there are many of them that deserve your attention, so you may want to check the best online casinos there.
Local Can Enjoy Foreign Gambling Sites
It is important to mention that all the locals have the right to gamble at any offshore operator that operates online. However, as previously mentioned, the authorities also give licenses to some companies that work in the gambling industry. These online casinos are unavailable to the locals, and they are only available to the people that are not residents of Belize.
Rules that Online Operators Need to Respect
Well, getting a license is not as easy as it seems because there are rules that all operators need to respect. First of all, the casinos need to ensure a deposit in the Central Bank of Russia. That amount of money serves as protection in cases when casinos start to deal with debts. How much money the owners need to deposit depends on the type of license they are asking for. However, in cases when the bank accounts become empty, all the casinos that have the license need to report that to the responsible authorities. Hiding this piece of information will only speed up the process of license loss.
Another rule that casinos need to respect is related to payouts. The task of every casino that has the license is to pay out all the money that players earn as soon as possible without any delays. In the end, it is good to repeat that casinos that got the license from the Belize authorities can’t accept the peds from the residents.
You Can Gamble with Digital Currencies as Well
Before we end this article, we should inform you that Belize is also following the latest trends. All the crypto-based deposits are accepted. Despite Bitcoin, which is the most popular crypto in the world, players have the chance to gamble with Monero, Ethereum, and some other popular cryptos.
This is a good option for both sides. Casinos will reduce the fees that they have for each transaction which automatically allows them to offer better bonuses. On the other hand, if the players win, for instance, BTCs, their income can grow together with the value of the crypto.
Only in 2019, more than 1.7 people visited Belize, and you probably now understand why this place is so popular. Despite decent climate and beautiful weather, there are also many gambling options that people can use to test their luck and make their holiday even more entertaining.
Understanding the gambling laws in Belize is not quite difficult. You have the option to gamble in land-based casinos and online casinos as well. In case you want to start a gambling business, you can also get a license, but don’t forget that accepting bets from the residents is illegal. On the other hand, if you run an offshore gambling site, then you are free to accept those bets as well.
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