Mexico: new sports betting regulation proposed
A congressman has proposed updating the Federal Gaming and Sweepstakes Law to expand sports betting in Mexico.
Mexico.- Congressman Erik Isaac Morales Elvira has presented a proposal to expand the regulation of sports betting in Mexico.
The initiative would reform the Federal Gaming and Sweepstakes Law to empower the Ministry of the Interior to authorise and supervise sports betting.
Mexico already allows sports betting, but the State cannot take full advantage of the income it generates because only a few online casinos have permits.
As a result, international sites cater to the Mexican market, taking away income.
Morena said: “A large number of international casinos on digital platforms do have the permits to operate and make profits.
“The gaming industry in Mexico is lagging behind and this means its impact cannot be seen in our country.”
The bill entered the Legislature through the Government and Population Commission, which will analyse it and decide whether to allow it to go to a vote.
According to estimates, the industry has revenues of US$422m annually and could grow between 25 and 30 percent in the next 6-7 years.
