Bolivia is a country located in South America. Its official name is the Plurinational State of Bolivia. This is a constitutionally unitary state that is divided into nine departments. Additionally, its population is known as a multi-ethnic society as there are Europeans, Asians, Africans, Amerindians, and Mestizos among the residents.
What’s interesting about Bolivia is that one-third of the country is within the Andean mountain range, it is the fifth-largest country in South America, and even though Spanish is the official language, 36 indigenous languages also have official status.
Even though Bolivia is labeled as the second-poorest country in South America, in terms of GDP, this country has the fastest growing economy. Hence, Bolivia is among the developing countries and some main economic activities here include mining, agriculture, fishing, manufacturing goods like textile, refined petroleum, clothing, refined metals, and forestry.
Summary of gambling in Bolivia
As for the gambling industry, this activity has had a pretty rocky relationship with the government of Bolivia throughout the years. There have been times when gambling was illegal, but during the late 90s the laws started loosening and gambling was finally made legal in 2002. The reason for its legalization is that Bolivia saw massive potential in this industry as its residents, as well as tourists, were really fond of playing these games.
There are tons of economic benefits that came from legalizing it and since Bolivia is a developing country, every industry that will provide an extra for the budget is welcomed. More people started getting jobs, so the employment rate started rising, and since casinos need to pay taxes on revenues, the budget of the country was starting to increase.
The online gambling industry and online casinos started becoming popular around 2015, and research has shown that Bolivians are more than happy to access these sites and play the latest casino games. Even though there are no specific laws that regulate online gambling, hence this activity is perceived as illegal, the Bolivian government will not pursue any player that decides to register and play at an offshore site. The strict gambling laws seem to only apply to land-based gambling. That is why Bolivian players are free to access any online casino of their choosing, at any time and place.