A recent update to Lottery and Gambling Law 060 has been introduced by the Bolivian gambling authority (AJ) to incorporate new verticals, such as online gaming.
AJ Executive Director Juan Carlos Antonio Abrego outlined a plan at the recent 2020 Initial Public Accountability Hearing to reform the gambling legislation and make way for a new and more inclusive market, with greater accountability and modernised choices.
He said: “We are working on a new regulation to benefit companies, a new sanctioning regime and the amendment of Law 060, with the goal of boosting the economy, strengthening the business portfolio and therefore generating employment and creating wealth in the country.”
In the midst of a political crisis and the economic problems caused by the pandemic, Bolivian policymakers are increasingly turning to the industry in a bid to create more jobs and greater revenue.
“Among the aspects that we aim to modify, we can find the adjustments of regulatory standards, improving the conditions to process business promotions. There will also be a change in the sanctioning regime, achieving proportionality in fines,” noted Abrego.
“In addition, the gambling tax regime will be adapted in order to attract new investments and put the necessary conditions in place to create a new gaming industry, which will also contribute to stopping illegal sites that don’t provide any guarantees for players, they violate their rights and of course don’t contribute to the State.”
Some of the most significant aspects of the amendments will be the implementation of the vertical online gaming, which is evolving across the world, despite the fact that governments are not benefiting because of a lack of enforcement and tax regimes.
Bolivia will also have a slot machine remote control system, as is the case in Colombia, which will be known as the Online Control System (SICEL).
“We work very hard to strengthen technological tools to facilitate the process of granting online authorisations and procedures related to business promotions,” Abrego concluded.