The government of Jamaica is promoting expanded gaming as a means to generate economic growth and boost tax revenues for the government of the popular Caribbean tourist destination.
The Betting, Gaming and Lotteries Commission is tasked with finding more money for the government this fiscal year and is counting on reforms to the Betting, Gaming and Lotteries Act to make it happen.
Commission Chairman Gary Peart said that once the changes to the act are enacted, sportsbetting will expand from 20 to 40 shops to more than 400.
“We have seen compounded growth rates over the last two to four years ranging from 15 percent to 30 percent, and with the roll-out of sports, mobile, telephone and text betting, the industry is expected to see another 10 percent to 20 percent increase,” he said.
He also identifies regulated internet casinos as a key. It’s estimated that $250 million in web betting originates in Jamaica, he said, although the sector is illegal.
