Online gambling in the Bahamas appears to be making significant progress, as the country's Minister for Legal Affairs announced that consultations on the matter are nearly complete.
The announcement on i-Gaming's progress in the Caribbean nation was made by Damian Gomez, the Bahamas Minister for Legal Affairs. He indicated that negotiations are very close, but that a Value Added Tax is the department's main concern, and online betting will not be introduced to parliament until that matter is resolved first.
“I was under the impression that we have reached a substantial agreement and we have all but completed our consultations, and I anticipate that very shortly the bills on gaming will proceed," Gomez said.
Operators looking for a betting license in the Bahamas will likely be required to house all betting equipment on the islands, pay a licensing fee, and meet certain levels of liquid capital. Still, the lure of the Bahamaian betting market may appeal to many operators, as the islands have a thriving expat community with deep pocketbooks.