Online Casinos and Gambling and Regulation in Nicaragua

Gambling regulations in Nicaragua

The new gambling act of 2011 created a framework for the formation of a gaming board that was domiciled under the ministry of Tourism. The act further divided Nicaragua gaming establishments into four categories. Small and less resourced operators who were perceived as the root causes of illegal gambling were banned. As such, it is only operators who had at least 10 slot machines that were licensed to offer land-based slot machines.

In 2014, the industry experienced a significant regulatory shift when the government act of 2014 migrated the management of gambling activities to the ministry of finance. This was seen as a viable move, especially at a time when the government was tightening its belt in a bid to boost its revenue collections. Under the ministry of Finance, the gambling industry was put under the Financial Analysis Unit which established the casino control council in a bid to effectively regulate and leverage this revenue source for the greater benefits of the government.

Regarding the 2014 Act, licensing of casinos was solely reserved to the Treasury. Any establishment that has not been afforded green light by the Treasury is deemed illegal and members of public are therefore advised to keep off such establishments. An office for casino and gambling halls was further set up to check on the standards of the manufactured and imported gaming machines. This was aimed at ensuring compliance to international standards, and the fairness of the said machines as the Random Number Generators are required to be fair to deter any possible manipulation of the winning patterns.

Having witnessed such immense strides in gambling regulation, Nicaraguan sites and land-based casinos witnessed an unprecedented surge in the number of both gamers and the games offered. These games include the likes of slots, Roulette, Poker variants and Blackjack to mention just a few. In case you choose to gamble on offshore casinos, there is no penalty whatsoever.

Good examples of the offshore licensing bodies include the UK Gambling Commission, Malta Gaming Authority, Alderney Gaming Commission and Kahnawake Gaming Commission to mention just a few. When you want to put your money into stake, always check whether your chosen casino is licensed by such bodies. You can as well check for online reviews so as to get updated on the gamers experience with specific casinos overtime.