SBC News Voice of the Sports Betting Industry
Mexico has moved closer to allowing a regulated online gambling market, as its political parties have agreed on the legal framework for regulating online gambling services to its citizens.
Mexico’s two leading political parties, Partido de la Revolución Democrática (PRD) and Partido Acción Nacional (PAN) have agreed on the general context and framework of the proposed Mexican online gambling bill.
Mexico’s Chamber of Deputies voted 297-32 in favour of applying new regulations last Friday. The bill will now be sent to the Mexican senate for approval.
News reports have speculated that if approved the Mexican igaming market will likely become a single nation entity. Whilst the market will have set legal and regulatory requirements for businesses wanting to operate, it is further likely that Mexican regulators will service their market with the provisions of a few approved igaming operators.
Past attempts by Mexico to regulate online gambling have been thwarted by political disputes between its two leading parties. Mexican online gambling has further been met with suspicion, due to its potential to be linked with money laundering activities for drug cartels.
The passing of the Mexican online gambling bill will likely see a high emphasis placed on online transactions by regulators. New reports further suggest that the minimum age for online gambling will be set to 21.
