Expressing concern about the growing number of persons getting involved in online gambling and betting, especially at small betting shops around the country, Vice President Bharrat Jagdeo has indicated that the Government will be moving to tighten regulations and reform taxation to curb the rise of gambling activities.
At a press conference on Thursday, Mr. Jagdeo lamented the negative effects of gambling and online betting games that have been sweeping across communities. While the Vice President did not name specific games or betting businesses, there has been an increase in the establishment of betting shops and online gambling games in the country.
Vice President Jagdeo said the situation has mushroomed into a major problem that is plunging families into financial distress and economic hardships as persons are becoming hooked on the games.
“What we have now is gambling on demand, it is on every phone, it is an App and it is facilitated by the local establishments and a very liberal licensing policy and taxation policy. So, expect stronger regulations in this area and appropriate taxes,” the Vice President said.
Mr. Jagdeo said gambling was introduced to support the hotel industry by providing an additional stream of revenue. In fact, he explained that casino licenses were issued under strict conditions, requiring hotels to have at least 150 rooms and meet high service standards.
But he noted that there now appears to be a new model, where hundreds of small gambling outlets are springing up across the country.
“The moment when you have four or five hundred outlets in every village across the country, and it’s all run on an app, it’s creating a major social problem,” Mr. Jagdeo said.
According to the Vice President the Government can no longer ignore the issue, with many sharing stories of families being torn apart, and parents losing their income to online betting.
“It’s destroying people. If they want to gamble, they can go to the appropriate place, leave their home and travel, not sit at home all day using up their salary or children’s money,” Mr. Jagdeo stated.
Mr. Jagdeo made it clear that while citizens’ rights would not be restricted, gambling must become a high-cost activity, which he believes will address the issue to an extent.
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