Costa Rica Banks

[LoboLoco]

They are supposedly starting to refuse Sportsbook business due to United States pressure. They were close to being added to the "blacklist". Most books here do not pay from accounts in the country, but most use operating accounts for expenses and payroll and such. This could put a real crimp in the already jumbled works.

[Jeff]

Sounds like some interesting times ahead for Costa Rica. Probably still the most preferred place to operate by many. But for how long?

[LoboLoco]

The new president will have his hands full dealing with new regulations and requirements from around the world. I think a lot of banks were getting tired of the cyclical nature of the business and the fact that many books were bouncing checks more during certain times of the year and usually coming in for large cash withdrawals to make payroll, etc.

No doubt Costa Rica is the most preferred place to locate, they don't have a solid regulatory system in place, although they are working on one. San Pedro has started a sort of fee/tax system, but just like most governments----the wheels turn slowly.

[Dragon]

It's easy to see why it's the most preferred place. It's the cheapest. No other place has a solid regulatory system in place either. Antigua and Curacao have proven to be just as worthless as the rest. Licensing is just another way of saying pay us to operate here. I would never choose to play at a book just because of location. It means very little with perhaps the exception of the UK and maybe Aust.

[LoboLoco]

Good call on the regulation issue, Dragon. You're right, regulation means nothing in countries that operate on a semi-bribery system.

Maybe if there were a finite number of licenses sold (although Curacao did do this, and apparently it did not help) it would help boost the integrity of a location. Any place that just lets anyone set up and run is more susceptible to scammers than someone that at least requires a hefty up front fee.