Tancoo: Big money in online gambling
Finance Minister Tancoo argues that licensing and regulating remote gambling will generate revenue and prevent illicit underground activity.Summary
Finance Minister Davendranath Tancoo warned that prohibiting remote gambling risks driving the multi-billion-dollar industry underground, arguing the Government should license and regulate rather than ban the activity. Piloting the Gambling (Gaming and Betting) (Remote Gambling) Order, 2026 in the House of Representatives, Tancoo recalled that gambling was described as a $16 billion industry during 2021 legislative debates, yet the previous administration failed to develop a regulatory framework between 2021 and the April 2025 general election, resulting in millions lost in potential revenue. Under current law, offering remote gambling across borders carries penalties of up to $10 million and ten years' imprisonment. Tancoo presented figures showing gaming tax payments of approximately $72.66 million in 2025 and $71.32 million collected in 2026 so far, alongside a compliance exercise that generated $15.58 million. Operators will be licensed by the Gambling (Gaming and Betting) Control Commission, and the Central Bank has begun licensing e-money issuers. Opposition MP Keith Scotland raised concerns about the impact on young people, but the Bill was passed with Opposition support.
(Source：Trinidadexpress)