Belize Warns Of Unlicenced Online Gaming Operators
The Government of Belize announced on Tuesday that it has recently discovered
several online gaming websites falsely claiming to have online gaming licences
from Belize. In a statement, the GoB advised internet users that there are only two online
gaming companies with licence to operate from Belize, namely: Fulton Data
Processing Limited and Bwin Intercontinental Limited. "Any other company that claims to have such a licence from Belize is clandestine
and we ask that you refrain from doing business with them," the government
urged. All online gaming companies in Belize require licensing under the Gaming Control
Act and its Online Gaming Regulations. Online Gaming licenses are issued by
the Gaming Control Board of Belize to companies of reputable standing, and with
proven track records in gaming. According to rules signed into law by Prime Minister Said Musa in 2004, only
persons with integrity and competence and with adequate financial means will
be considered for a licence, and only one licence can be held at any one time.
These rules also adjusted the Online Gaming regime to make processing and monitoring
more efficient, while reducing the normal fees associated with licences in Belize
to US$15,000 from US$50,000. A licence is required by International Business
Companies conducting or intending to conduct gaming from within Belize, with
the condition that no business is conducted with residents of Belize. A comprehensive report in our Intelligence Report series examining offshore e-commerce and online gaming is available in the Lowtax Library at http://www.lowtaxlibrary.com/asp/subs_reports.asp and a description of the report can be seen at http://www.lowtaxlibrary.com/asp/description_report6.asp
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