The possibility of legalizing online gambling (Venezuela)

Legalization of online gambling in Venezuela is a topic increasingly discussed both at the business level and on the sidelines of public policy. Against the background of the growth of cryptoeconomics, tourism potential, and the shadow volume of bets, the idea of regaining state control over the gambling sector looks not only politically possible, but also economically justified.

Online betting and casinos already exist in the country - just outside of formal regulation. Players use offshore platforms, VPNs and cryptocurrencies, and the state loses taxes, jobs and an image of control.

Why the issue of legalization is relevant again

1. Economic motivation.

Venezuela is looking for new sources of income. Licenses for online gambling, taxes on GGR (Gross Gaming Revenue) and legal transactions in USDT can become an additional channel of foreign exchange earnings.

2. Control of the grey sector.

Most of the online betting today goes offshore. Legalization will reduce illegal channels, protect players and establish uniform standards for safety and responsible play.

3. Investment and tourism.

Combined with plans to revive casino tourism (Margarita, Caracas, Puerto La Cruz), the legal online segment will complement the offline industry: an "omnichannel" model where the player can participate in promotions and tournaments from any device.

4. Regional trend.

Neighbors - Colombia (Coljuegos) and Peru - have already benefited from the regulation: dozens of licensed sites, millions in tax revenue and player confidence. Venezuela is falling behind objectively, but can adapt their experience without initial mistakes.

Possible control models

Model	Features	Advantages	Risks
Centralized license	Single regulator issues B2C and B2B licenses	Easy control, single operator base	Dependence on political decisions
Regional (by state)	Licenses are issued by local authorities	Support for regional budgets	Heterogeneity of rules
Hybrid (as in Colombia)	Center approves framework, regions participate in oversight	Balance of control and decentralization	Requires strong coordination
Certification of operators through offshore	Simplified registration for recognized brands	Fast market launch	Loss of part of taxes

The most realistic scenario is a centralized license under the Gambling Commission or a new department of the Ministry of Finance with an open registry, API reporting and a system of "white" payment partners.

The main elements of the future law

1. Operator licensing.

Capital and technical platform requirements.

Certification of RNG, providers and payment systems.

B2C (casino, betting, lottery) and B2B (software companies, aggregators) licenses.

2. Taxation.

15-20% GGR (analogous to Columbia).

Additional collection in the fund of culture, sports and Responsible Gaming.

Simplified taxation for startups for 1-2 years.

3. Responsible play.

Mandatory deposit and time limits.

Self-exclusion and hotline.

Transparent bonuses and risk warnings.

4. Control and supervision.

API reporting T + 0/T + 1 (real-time).

Check payments (AML/KYC, sanctions lists).

License and Complaint Center with a public registry of brands and domains.

Economic benefits

Tax effect: according to industry experts, even with a moderate launch, the online gambling market can bring up to $40-60 million a year in taxes at the second stage.

Jobs: IT, support, marketing, fintech, affiliates - thousands of new positions.

Investments: international operators and providers (Pragmatic Play, Evolution, Playtech) are interested in a local presence.

Tourism: Online platforms can be integrated with land-based casinos, creating a single entertainment ecosystem for foreigners.

Social and political side

Addiction control: it is better to have a regulated system with limits than a spontaneous underground market.

Public image: Getting legalisation right is not about "legitimising excitement" but "taking back control, taxes and security."

Political gain: Legalization is perceived as modernizing reform, not "liberalizing for profit."

Main risks

1. Lack of transparent oversight.

Without an independent body, licenses can become a monopolization tool.

2. Unprepared payment channels.

Without white on/off-ramp, frods and problems with AML are possible.

3. Regulation simulation.

Formally, the law will be adopted, but without real API reports, player protection and stable payments.

4. Public distrust.

Without an educational campaign, society will perceive reform as a "resolution of excitement" rather than a step toward accountability.

Path to legalization: road map (24 months)

Stage 1 (0-6 months) - Consultations, market analysis, draft law.

Stage 2 (6-12 months) - Adoption of regulations, creation of a regulator.

Stage 3 (12-18 months) - Pilot licenses (5-10 operators, 3-5 PSP).

Stage 4 (18-24 months) - Scaling, Responsible Gaming Hub, annual report with KPI.

Comparison with regions

Indicator	Colombia	Peru	Venezuela (potential)
Year of legalization	2016	2022	- (pending)
Licenses	>20	~10	10-15 (per pilot)
GGR tax	15%	12%	15-20% (estimated)
Payment currency	COP, USD	PEN, USD, USDT	VEF, USD, USDT
Regulator	Coljuegos	MINCETUR	New Department/Ministry of Finance
Responsible play	Yes	Yes	Under development

Perspective 2030: the "digital window" of the economy

If Venezuela creates a transparent and digital regulatory platform, with API reporting, licenses and crypto integration, the country could become the center of iGaming in the Caribbean. This will strengthen tourism, create jobs and return the currency to legal circulation.

The key challenge is not just to allow online gambling, but to make it honest, safe and socially responsible.

Legalizing online gambling in Venezuela is a real opportunity to combine financial pragmatics and social responsibility. With the right architecture, the law can not only fill the budget, but also turn the country from an offshore and VPN zone into a modern, regulated iGaming market focused on trust, innovation and security.