A history of gambling in Venezuela

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Early Foundations: Law and Regulator (1997-2010)

Modern history begins with a 1997 industry law that enshrined the powers of the National Casino Commission (Comisión Nacional de Casinos) - it is she who is authorized to issue licenses and determine the requirements for the sites. Among the conditions is the location of casinos in areas officially recognized as "tourist."

In the late 1990s and 2000s, the industry developed around hotel complexes and a bingo hall, focusing on domestic tourism and foreign audiences. In parallel, discussions grew about the risks of laundering and "gray" schemes in the era of currency control and political turbulence.

2011 twist: "total closure"

In 2011, President Hugo Chávez publicly declared casinos and bingo halls "lugares de perdición" ("places of vice") and ordered their absolute closure. According to the Casino and Bingo Workers Union (STBCV), this led to tens of thousands of job losses. The political and moral argument was central: the establishments "served to enrich the bourgeoisie."

2020: symbolic "reboot" through crypto

After a nearly decade-long ban, authorities headed for a partial reactivation of the industry. In January 2020, Nicolas Maduro announced the opening of an international casino at the Humboldt Hotel (Caracas) with settlements in the state cryptocurrency Petro (PTR) - the proceeds, according to the plan, were to be directed to health care and education. The move was a landmark U-turn and a signal of future liberalisation.

2021: official "green light" and mass permits

By the fall of 2021, the government officially agreed to the return of the casino, announcing the possibility of issuing ≈30 licenses and the launch of new facilities (the Ciudad Jardín Casino in Hotel Pipo, Maracay was the first to open). At the same time, the authorities announced the introduction of an interconnection system (interconnexión) for machine control and online monitoring - as an element of post-crisis surveillance.

2022-2025: cautious normalization amid crisis

In subsequent years, casinos gradually returned to major cities and tourist locations. Economic dollarization "from below" and attempts to attract foreign exchange earnings have made the gambling sector a convenient niche for point liberalization. Journalists noted that the return of the casino was perceived as a pragmatic step to attract money and tourist flow against the backdrop of a long-term crisis.

At the same time, the legal framework is still based on the 1997 framework and executive decisions: the Casino Commission remains a licensing center, and the licensing policy is combined with technical control efforts (including equipment monitoring) and selective cases with crypto accounts in individual objects.

Online dimension: "gray areas" and offshore

Unlike the Colombian model, the online market in Venezuela has long remained vaguely regulated, which has opened up space for offshore play and gray remote access schemes. Review materials for players emphasize: there is no direct ban, but there is also a clear "white" framework for online operators - the country's regulatory pendulum is focused primarily on ground sites.

What is important to understand today (bottom line)

1. Land casino licensing relies on a 1997 law and the authority of the National Commission; key requirement - location in tourist areas plus technical control of equipment.

2. The 2011 ban de facto "reset" the industry for almost a decade and became a turning point in the perception of gambling by the state and society.

3. Reactivation from 2020-2021 is a political economic tool for foreign exchange earnings and tourism (including the symbols of the "crypto casino" and subsequent permits for dozens of sites).

4. The online segment remains ambiguous on rulemaking; the issue of regulating remote services is one of the main challenges of the future.

Timeline of key events

1997: industry law; the National Casino Commission is being created/strengthened, fundamental requirements are set, including tourist zoning.

2000s: rise of bingo and in-frame casinos at hotels; discussions about risk and control are intensifying.

2011: Hugo Chávez's directions for the general closure of casinos and bingo.

2020 (January): Maduro announces cryptocasino at Hotel Humboldt with settlements at Petro.

2021 (September): the government gives the green light; Media reports about ≈30 permitted facilities and the first discoveries (Ciudad Jardín Casino). In parallel, an interconnect is announced to control the machines.

The history of Venezuelan gambling is a sinusoid between total prohibition and pragmatic liberalization. The 1997 framework and the powerful political reversal of 2011 set the industry's trajectory for the decade ahead, and the 2020-2021 "restart" showed how economic realities can put casinos back on the map. Further evolution is likely to depend on how much the authorities institutionalize transparent rules for the online segment and retain technical control over the terrestrial network - without rollbacks towards the "gray" economy.