🎉 Dominican Republic🇩🇴 approved a new law regulating gambling

🎉 Dominican Republic🇩🇴 approved a new law regulating gambling

Dominican Republic approved a new regulatory framework within just a few months, instead of taking another two years to pass the legislation. Here is a brief overview of how the regulatory framework will change.

😀 The law establishes a regulatory body — the General Directorate of Gambling (DGJA), an autonomous and decentralized state agency.

😀 Before accepting bets, operators will be required to verify customers' identities using an identification document and data from the Central Electoral Board.

😀 A National Self-Exclusion Registry will be created, allowing customers to register free of charge, either in person or online. Once registered, they will be prohibited from entering gambling establishments, while operators interacting with customers will be required to check the registry.

😀 A minimum distance of 500 meters must be maintained between gambling establishments and certain designated locations, including schools, universities, hospitals, churches, barracks, and government buildings.

😀 Most importantly: what does the new law establish for online gambling❓

🔹 Online operators will be required to hold a license.
🔹 Mandatory registration under the .do domain.
🔹 A monthly 10% tax will apply to Internet transactions.

😀 Regulator's powers regarding online gambling:

🔹 request the blocking of domains and applications;
🔹 coordinate the freezing of transactions within payment systems;
🔹 compile and publish lists of authorized and blocked websites.

😀 Moratorium on the issuance of licenses: no new licenses for gambling establishments will be issued for 10 years. According to the authors of the law, the existing market must first be regulated and brought into compliance (although there is a list of applicants who will not be subject to the moratorium).

😀 Sanctions: fines of up to 400 minimum wages, closure of establishments, revocation of licenses, disqualification of operators' shareholders and executives, and, in the most serious cases, up to 10 years in prison.

😀 10% of fines imposed for violations will be allocated to the Ministry of Health's gambling addiction prevention and treatment programs. In addition, the law requires the creation of a free helpline for people experiencing gambling addiction.

#news #illegalgambling #betting

🎭 From local bank transfers to Apple Pay worldwide: payment solutions for high-risk sectors at PayPlanet @pay_planet