Brick-and-mortar casinos are still a dependable choice
Back in 2013, Mexico had over 400 licensed casinos, but after implementing strict terms of issuing casino permits, the number of licensed casino venues had gotten down to 321. But, in 2015 the Government of Mexico allowed casinos in popular resort destinations like Acapulco, Baja California, and Mayan Riviera. As this new approach–hoping to solve its issues with legislation that lowered the licensed and operating casinos–is projected to produce of more than 700 casinos that could be developed in resorts that tourists popularly flock to. Miguel Ochoa, the country’s gaming industry association AIEJA president, admitted that it was “time to grow” and Ochoa is expecting 4 million players to enter and play in a casino for 2017. This is a huge increase from last year’s figures, which was 2.8m in total.
Issues with technology but also legality
In Mexico, not even a half of its residents have Internet access. In addition to that, only half of those people with internet access are involved in any form of online banking. Obviously, online gambling websites should be able to cater to fiat payments via the internet or Bitcoin. But, these hindrances have become a challenge for online gaming. In addition, those players who do have Internet and banking access choose to play on international and popular licensed gambling websites rather than go to local online gaming sites. This is due to Mexican-licensed operators having to spend more of their revenue on advertising in an attempt to get more local recognition. Leading operators to pay a 30% excise tax on their revenue plus marketing costs, they are unable to offer lower rates than international gambling websites.
Although, Mexico’s problems with online gambling does not end with technology but also legality and security. Unfortunately, illegal betting websites also add to the issues they face. These unregulated operators take a part of their share by practicing illicit activities. This is why legitimate local websites decide to spend more of their profit in marketing efforts in an attempt to overtake illegal operators.
Lastly, Mexican online operators currently deal with a 70-year-old gambling law and authority. Mexican gambling professionals and experts predicted that their online gambling market could double its revenue if only the government updates the gambling laws. But, so far the Mexican Senate has not shown any willingness to do so.
This is where Bitcoin can step in. Having the power of decentralized payments may pave a more convenient way for both operators and online betting enthusiasts to what iGaming has to offer. Mexico’s gaming industry can learn a thing or two from Bitcoin casinos accepting US players. If this suggestion comes around, one way or another, the barriers that Mexico’s online gaming community face might just spirit and propel Bitcoin casino games, the advantage of Bitcoin payments, and unrestricted online gaming experiences.
