The Government of Jamaica has announced that it will bring regulation to Internet Gaming in Jamaica as it seeks to earn revenues from the source.
Horace Dalley, Minister without Portfolio in the Ministry of Finance, making his contribution to the Sectoral Debate on Tuesday, affirmed that the government would make every effort to bring regulation to the sector over the next twelve months. He told the House that studies show that Internet Gaming generates more than US$20 billion in worldwide revenue, with the potential to grow even further.
Industry earnings
Mr. Dalley also revealed that, during the 2013/14 fiscal year, collections from the gaming industry totalled more than $4.5 billion. This was an eleven per cent increase over the previous year.
He said the sum includes money that went to the CHASE Fund, Betting, Gaming and Lotteries Commission, Jamaica Racing Commission, and the Consolidated Fund. He added that the Betting, Gaming and Lotteries Commission has conservatively estimated that the daily earnings from sports betting have quadrupled since the start of the 2014 World Cup.
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Jamaican Government to regulate Internet Gaming
