Saint Kitts and Nevis, a Caribbean island country, has the gambling industry well-organized which includes betting sites in Saint Kitts and Nevis as well as sports betting. The state has created a legal and regulatory framework which is in favor of various gambling activities while at the same time it keeps an eye on them. This article is a detailed account of the legislation history of gambling in Saint Kitts and Nevis, the regulatory agencies which are involved, licensing procedures, fees, taxation and types of bets that are allowed or not.
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Law of Gambling in Saint Kitts and Nevis
History of Gambling Legislation
Gaming has been the legal activity in Saint Kitts and Nevis since December 1999, when the government made a law called Betting and Gaming Control Act of 1999. This act permitted various gambling activities such as casinos, poker, horse racing and sports betting. The same act also set up the Saint Christopher and Nevis Gaming Board that was in charge of granting licenses and overseeing gambling activities.
- December 1999: Legislation of the Betting and Gaming Control Act.
- June 2021: The Gaming and Betting Control Bill 2021 was approved, so that the government will be able to tax even more strictly in this industry.
Regulatory Agencies
At first, the regulatory authority was the Saint Christopher and Nevis Gaming Board. Nevertheless, after the Gaming and Betting Control Bill 2021 was passed, this duty went to the Gaming Commission. This commission has passed the responsibility for licensing, regulation and control of gambling activities on the islands.
Gambling Law and Regulation in Saint Kitts and Nevis – 5 Things to Know
Types Licenses of Betting Sites in Saint Kitts and Nevis
The Betting and Gaming Control law of 1999 gives the Federation, the joint government of Saint Kitts and Nevis, the right to issue different types of gaming licenses, including those for online gaming. Nevertheless, the people of the islands are not allowed to play online gambling. Below is a detailed description of the types of licenses and fees involved:
- Online Gaming License: Enables the companies to offer online betting and gaming services.
- Land-based Casino License: This prize is awarded only to the hotels that have at least 200 rooms.
Slot Machine Operator License:
- 1-5 machines: $200 a year fee
- 6-10 machines: $500 a year fee.
- 11-20 machines: $1,000 per year fee
- 21+ machines: $20,000 as an annual charge.
Licensing Process
To obtain a Betting and Gaming License, the process involves several steps:
- Application: Put in a request for the Betting and Gaming License.
- Incorporation: Establish a company in Saint Kitts and Nevis. Please note that the company name should not have the word “Casino. ” in it.
- Final Requirements: The last criteria to be met will be the one set by the Betting and Gaming License after the company is incorporated.
Fees and Financial of Betting Sites in Saint Kitts and Nevis
There are several financial obligations associated with obtaining and maintaining a gambling license in Saint Kitts and Nevis:
- Registration Fee: PWM 80,000 must be paid to the government.
- Annual License Fee: 40,000 dollars.
- Work Permits: Compulsory for all the aliens.
- Notification of Changes: Notify the government authority of any changes in company directors or beneficial owners.
- Advertisement Clearance: The government must approve all the internet advertisements.
- Bank Account: The company is supposed to open a bank account with some Saint Kitts and Nevis-based bank.
Taxation
- The Gaming and Betting Control Bill 2021 has allowed the government to have more control over the taxation of the gambling industry. The following taxes are collected:The following taxes are collected:
- Gaming Owners’ License Fee: Variable depending on the type of gaming facility.
- Gaming Tables: Taxed by the quantity and kind of gaming tables.
- Customs Duty: Two kinds of the tax were introduced. First is on imported gaming devices and secondly, a customs duty was imposed on them.
- Corporation Tax: The standard corporate taxation is in effect.
Particularly, there is no gambling tax which is separate from the fixed licensing fees and gambling winnings are not taxed for players.
Prohibited and Permitted Bets
- Prohibited: Saint Kitts and Nevis nationals are not allowed to make bets or engage in any gaming activities online.
- Permitted: Visitors and non-residents can take part in gambling activities like casinos, sports betting, and online gaming if the platforms are licensed.
Notable Casinos of Saint Kitts and Nevis
Though the islands are small in size, Saint Kitts and Nevis has several famous casinos. While the Betting and Gaming Control law allows for a variety of gambling activities, it has strict regulations regarding who can participate:
1. Royal Beach Casino
- Location: Located at the Marriott Resort in the Frigate Bay Area of Saint Kitts.
- Features: Has 300 electronic gaming machines and 19 table games, which comprise of video poker and electronic roulette.
2. MaPau Casino
- Location: Basseterre, Saint Kitts.
- Features: It has 166 electronic gaming machines and a table for gambling. It is situated in a shopping center thus, it can be considered more as a gaming place than the usual casino.
3. The Royal Saint Kitts Casino
- Location: Close to the center of Frigate Bay.
- Features: The house has 100 electronic gaming machines which are perfect for newbies and experienced gamblers.
Conclusion
Saint Kitts and Nevis betting sites have advanced a lot since the legalization of gambling in 1999. The country has become a good place for both land-based and online gaming enterprises, with the help of comprehensive regulations, a variety of licenses and clear but strict legal framework. To the ones who want to become a part of this market, they should know what is allowed by law, how to get licensed and what are the financial obligations.