As the online gaming fever is also spreading to Spanish speaking countries there has been a concern about the regulation and legalization of the activity around the world. No one ever imagined that there would be a whole new, unexploited market in Latin America and Spain but some online gaming services providers seem to have found a gold mine in that region of the world. However, many times the problem that those service providers encounter is legal regulations within each country but it seems that the whole world seems to be moving in the same direction when it comes to online gaming legislation.The first country to take action and improve the situation revolving around the gambling industry is Spain.
The process of regulating online gambling has been running for a while as it was setup in 2007, but it finally seems to be taking big steps towards achieving something meaningful. Last week some gaming regulators got together and decided that they would create two official groups to be in charge of the gaming legislation in Spain.
In December of 2007 lawmakers had determined that they would only be able to put things right in the gambling industry through national laws. The national laws they referred to were meant to set limits for all casinos and bookmakers located in Spain.
The Secretary General of the Ministry of Interior said in a statement that individual regions across Spain are being challenged to meet the new regulations. Something that worries lawmakers in terms of how progressive the country is being towards online gaming was when at a meeting held in Madrid the LAE (Loterías y Apuestas de España, aka the Spanish Lottery Operator) was not present.
Hopefully Spain will pull it together and citizens will be able to place wagers online with full access very soon. We will keep you updated on the development of the situation.