By: Goidy Reyes
Santo Domingo.- Businesswoman Circe Almánzar advocated for effective regulation of online gambling in the Dominican Republic, during the opening day of the Gaming & Technology Showcase (GAT 2024).
The event, which brings together industry experts, is being held at the Renaissance Jaragua Hotel in Santo Domingo and seeks to chart the future of this dynamic and growing sector.
Almánzar, recognized for her role as executive vice president of the Association of Industries of the Dominican Republic (AIRD), outlined the challenges and opportunities facing the online gaming industry in the country, highlighting the absence of a regulatory framework, which has left players vulnerable to fraud and security breaches.
His exposure came after Claudia Álvarez, Director of Casinos and Games of Chance of the Ministry of Financewill talk about regulatory advances and supervision of that sector in the Dominican Republic.
An opportunity for the country in the midst of tax reform
During her speech, Circe Almánzar pointed out that the regulation of online gambling could become a significant source of tax revenue for the Dominican Republic.
“Given the current tax reform, the regulation of these games offers an opportunity to generate new sources of income, benefiting both the State and the companies in the sector,” explained the businesswoman.
Almánzar stressed the need to protect local consumers, mentioning that unregulated platforms operate without adequate supervision and expose players to financial risks and unfair practices.
“With an effective regulatory framework, we can ensure that these platforms comply with global security standards while reducing the risks associated with money laundering and the influx of illicit resources,” he said.
Data protection and legal security
One of the key points addressed by the businesswoman was the protection of personal and financial data of users of online gaming platforms.
He explained that in the absence of regulation, players are exposed to risks such as identity theft and financial fraud. A clear regulatory framework, he added, would ensure users’ privacy and protect their rights against potential scams.
From an economic perspective, regulation would also help provide a safe investment climate for operators. By regulating the sector, the state could capture funds that would otherwise flow to unregulated platforms, thereby losing an opportunity for significant tax revenue.
Growth accompanied by challenges
Almánzar stressed that the impressive growth of online gaming also brings with it significant challenges. In many countries, the lack of a regulatory framework has left players exposed to fraud and addiction, as well as being more vulnerable to illicit use of platforms, such as money laundering.
“The adoption of a modern regulatory framework is key to addressing current challenges. We must create a Superintendency or Autonomous Directorate of Lotteries and Games of Chance, which supervises and regulates the market, as is the case with financial and telecommunications services,” suggested Almánzar.
Technological innovations and the future of gambling
GAT 2024, at which Almánzar spoke, brings together experts in the field and offers a platform to showcase the latest technological innovations in the entertainment industry, from virtual reality solutions to advanced digital security platforms.
The event seeks to position the Dominican Republic as a regional center in the sector, taking advantage of the growth of digital platforms and the massive use of mobile devices.
“Regulation not only translates into revenue for the State, but also into the creation of quality jobs in key areas such as cybersecurity and software development,” Almánzar said in his speech.
Social and economic impact
The right regulatory framework would not only bring economic benefits, but would also contribute to social welfare. Countries such as Malta and Colombia have shown how a regulated environment can attract investment and strengthen market confidence, generating employment and protecting players.
GAT 2024, sponsored by companies such as Pragmatic Play, Bet Construct and Loteka, among others, is shaping up to be a key space to discuss the challenges and opportunities of the sector. With renowned exhibitors such as IGT, Digitain and Zovrex, the event seeks to define the future of the gambling industry in the Dominican Republic.
The event was opened by José Aníbal Aguirre, CEO of Gaming & Technology Expo-GAT Events; Claudia Álvarez, Director of Casinos and Games of Chance of the Ministry of Finance of the Dominican Republic; Javier Milián, President of CIBELAE and of the National Lottery of Charity of El Salvador; Esmeralda Britton, President of the Social Protection Board of Costa Rica; Juan Carlos Santaella Marchán, of the Gaming Commission of Puerto Rico; Roberto Beltrán Burgos, Manager of Innovation and Development of the Lottery of Concepción of Chile; and David Moniz, President of the Dominican Association of Gaming Casinos (ADCJ) and representative of ASOCOL Dominican Republic.
