The coastal state of South America, which is Suriname, is surrounded by French Guiana to the east, Brazil to the south, and Guyana to the west, and is bordered on the north by the Atlantic Ocean has a historical background of gambling and betting. In this article, the author examines Betting Sites in Suriname and sports betting changes in gambling legislation, the agencies that regulate gambling, the fees for obtaining a license in Suriname, gambling taxes and the specific list of prohibited and allowed betting.
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Gambling Legal Legislation in Suriname
Historical Overview
Suriname has a rich history of gambling, with regulatory frameworks evolving significantly over time:
- 1962: The first gambling law was passed, that made it mandatory to be at least 18 years old for gambling and banned locals from gambling.
- 1996: One of the landmark years in which all types of gambling were made legal, making it possible for locals to engage in it. The international investors invested in casinos and hence the expansion of the industry was accelerated.
- 2004: This led to severe cutbacks in money laundering and a mass exodus of gambling operators from the market due to enhanced rules and regulation.
- 2009: The Gaming Board was established through a presidential act no O. G. 2009 no. 782, but it started its operation only in the year 2019.
- 2021: The legislation was passed in a bid to bring into law all games that are available in physical based casinos to be allowed to be offered online from October 1, 2021.
Regulatory Bodies
The primary regulatory body for gamblin activities in Suriname is the Gaming Board which is responsible for licensing and regulating all forms of gambling whether online or physical.
Gambling Law and Regulation in Suriname – 5 Things to Know
Licenses and Fees of Betting Sites in Suriname
It is also important to note that licensing and regulation are critical factors that help to sustain the integrity of gambling. Here’s a detailed breakdown:
- Licensing Authority: The Gaming Board was established by an act of the president on 2nd June 2009.
- Operational Start: 2019.
- Licensing Scope: It is responsible for providing gambling licenses for the land-based and online gambling businesses.
Licensing Process
The specificities of the application, the conditions that the applicant must meet, and the fees for obtaining a gambling license in Suriname are not disclosed online, and the information can be provided in Dutch only upon request since this language is official in Suriname.
Gambling Taxes
The gambling tax regime in Suriname imposes various taxes on different facets of the gambling industry:
Tax Structure
- General Tax: Currently, it is mandatory for enterprises to pay 50% of their revenue in taxes, but there is some ambiguity regarding the gambling taxes.
Lottery Tax:
- The commission is 20% on the total value of lottery prizes or tickets, and 10% additional commission on every won prize.
- 15% in case of a lottery that is associated with a social or charitable cause.
Casino Tax:
- Slot machine: SRD $400 per device, per month.
- Gambling table: $ 3,000 per device per month.
- Roulette table: SRD $4,000 for each device, each month.
- Player Taxation: As to the specific tax rate on gambling winnings for players, it has not been identified yet.
Betting Sites in Suriname and Online Gambling
Suriname allows online gambling and anyone willing can apply for a license. However, it is a relatively emerging sector with limited licensed operators like Pasha Global and Suribet.
Key Developments
- 2000: The political power dynamics started changing, which led to the enactment of even more rigid legislation on various vices, including gambling.
- 2009: The Gaming Board began to issue licenses mainly for the land based casinos.
- 2021: New laws were passed to regulate the gambling online, providing that online gambling was legal as long as the game offered was also legal in land based casino.
Suriname Sports Betting
Sports betting is quite prevalent in Suriname; there are various sites that can be used to place bets on football and basketball and other events.
Legal Status
Sports betting is legalized and all online operators must acquire licenses to practice their services legally. Like other gambling platforms, Pasha Global is a reputable licensed betting site.
Prohibited and Permitted Bets
The laws on gambling in Suriname defines the kind of bets and gambling activities that are legal and which ones are illegal.
Permitted Bets
- Casino Games: Bacchus’s product portfolio encompassed table games, slot machines, and poker.
- Sports Betting: The bets placed on football and basketball and other types of sports.
- Online Gambling: Like most other nations, all forms of casino games that are played in physical casinos can also be legally played on the internet.
Prohibited Bets
- Unlicensed Gambling: Any betting or gaming activity that is not authorized by the Gaming Board of Kenya.
- Underage Gambling: Minors are not allowed to engage in gambling activities and anyone found involved will be arrested and prosecuted.
A review of the key dates and events that shaped the gambling legislation in Suriname
- 1962: The first gambling law passed with the new age limit for gambling set at eighteen years of age.
- 1996: Legalization of all types of gambling, and permission for locals to indulge in gambling.
- 2004: Increase in the measures that are put in place to curb this vice through the introduction of strict rules on the use of cash.
- 2009: Creation of the Gaming Board (O. G. 2009 no. 782).
- 2019: Gaming board: The government establishes a body that regulates the operations of the gambling sector.
- 2021: New exhaustive provisions for Internet betting are enacted to provide a clear legal foundation.
Conclusion
The gambling and betting industry in Suriname is regulated by the changing legal acts that aim at the proper regulation of this industry and its supervision. Thanks to the recent establishment of the Gaming Board as well as the general legislation on the subject, the industry still has a vast potential for development, which means that the operators can gain much from it while the players too stand to benefit much from it. As usual, one must always follow responsible betting measures, and keep abreast with the current legal issues that surround the sector.