Gambling Online Important Economic Driver at SBG Global

January 24th, 2022 Online Gambling

There are many fans of gambling online sites, but at times there seems to be an equal number of opponents to the industry as well -at least in some sectors. In the US, even the legal gambling opportunities are rampant; Congress continues to uphold the ban on betting online operation based in the US.  As a result, a large cottage industry of offshore gambling sites has set up headquarters throughout Latin America and the Caribbean and is now an important component to the region’s economy. As the US law prohibits betting online company’s from establishing operations on US soil -even though access to the sites is not regulated in any way- these businesses have sought refuge elsewhere.

These new offshore gambling company’s have set up shop in a number of countries within a stones throw of the US like the Cayman Islands, Costa Rica, Bermuda, the Bahamas and other betting online friendly nations.  And while most people view wagering online as simply a leisure activity they often fail to look beyond the recreational capacity of such gambling online sites and don’t realize what an impact these offshore gambling company’s have on the local economies.

These offshore gambling companies are often the largest employers in their local area and need a constant stream of educated and skilled service workers in order to make their wagering online sites function.  Everything from phone operators, to IT specialists, to graphic artists to contractors and builders are necessary for a healthy betting online company to survive.  And since the economies in many of these host countries are depressed, betting online companies are often a welcome site.

What’s more, the gambling online sites don’t just create jobs, they generally create well-paid jobs.  Gambling online websites are known to pay a large premium over average local salaries in order to ensure top quality help.  This in turn not only helps to stimulate the economy via consumer consumption, but it also spurs education and the development of skill sets as locals seek to qualify to work at betting online companies.

In this light we can see that betting online companies, while highly entertaining, also fill an important role in many regional economies.