“Even with the current penalties, gaming has increased in Guatemala”

This country penalizes all games of chance. There are just four traditional lotteries authorized to buy tickets. The representative consulted last week the points of this bill with the head of the  Superintendency of Banks (SIB), Édgar Barquín, who said that legalization is possible.

Which are the main points of your bill?
The main point lies in the legalization of games of chance. In the last ten years, even with the current prohibition, gaming has grown in modalities such as bingos, video-lotteries and video-casinos under the form of charity foundations or non-governmental organizations. We also want the following points to be complied:

1) the formalization of a regulatory structure to prevent money laundering and to be able to charge a fee;
2) the creation of a council or responsible regulatory commission and a permanent regulatory structure;
3) the setting of a law of protective measures for the player, for the government and for operators;
4)  the regulation of the activity 24 hours a day, 365 days a year;
5) the surveillance of the financial activity of operators, as a key factor;
6) the creation of a gaming license in which the operator assigns the confidentiality of the information, in exchange of the privilege of operating in the activity;
7) the structure of regulation with power to investigate, make audits and fiscalizations, etc;
8) the inclusion of all types of games of chance in the regulation;
9) the support of other regularoty entities of the financial sector for the regulation of the activity.
10) that deposits of betting companies are made in bank accounts in the country, so they do not avoid controls.

When would the project be presented before the Congress?
The project would be presented officially after September 15.

What sectors are in favor and which against the bill? In both cases, Which are the main reasons?
Resistances have not been identified yet, because the final text is not known, although we already have information that indicates that those who currently operate illegally will have a strong opposition. In favor, they will position basically the responsible entity to prevent money laundering, the tax authority and heads of tourism and would prevent money laundering.

If your bill is approved, what economic benefits would the government obtain?
The government would obtain tax incomes that currently do not exist, would promote tourism and prevent money laundering.