Trinidad and Tobago is making a significant push to become one of the Caribbean’s leading offshore online gambling jurisdictions.
The island nation’s parliament voted unanimously to approve a ministerial order that would create a legal framework for offering online gambling services to international markets.
The order, put forward by finance minister Davendranath Tancoo, was approved on Wednesday, September 30, marking a major step forward for the country’s gambling ambitions.
If the Senate also approves the order, the Kamla Persad-Bissessar-led government would guide Trinidad and Tobago into becoming the fourth Caribbean nation to operate an offshore gambling regime.
Previously, operators faced severe penalties for offering online gambling services beyond the country’s borders, including fines ranging from $5 million to $10 million and prison sentences of between 7 and 10 years.
Finance minister Tancoo made a compelling case in parliament, arguing that bringing remote gambling into a regulated framework would generate tax revenue and benefit ordinary citizens.
Speaking directly to parliament, Tancoo said: “Licensing remote gambling will bring both existing and new operators into the formal economy, ensuring that they contribute taxes.”
Tancoo also warned against the consequences of inaction, saying: “If we do not do this… we will be encouraging persons and businesses to conduct remote gambling underground and therefore become associated with the world problem that exists.”
He argued that prohibition had clearly failed and that a regulated approach offered a far more effective path to managing the industry responsibly and productively.
Tancoo added that the new framework is expected to generate employment opportunities, attract foreign exchange into the country, and meaningfully increase overall government revenue.
The legislation also establishes important ties between digital payment systems and recognised regulatory bodies, ensuring financial oversight remains robust across all remote gambling transactions.
Trinidad and Tobago’s Central Bank has already begun licensing e-money issuers and launched consultations on a payment systems bill, laying the groundwork for proper financial supervision.
However, some legislative groundwork remains incomplete, as the section of the 2021 Gambling Act detailing the licensing system has not yet been proclaimed and is therefore not currently in legal force.
The island’s Gambling Control Commission has acknowledged this gap, and the government’s move signals a clear intent to finally bring the full regulatory framework into effect.
