If you're inclined to learn more about this country’s gambling environment, it's likely for one reason. Venezuela remains one of the last unmapped territories in Latin America's iGaming landscape. Despite a lack of online regulation, casino floors have reopened, lotteries continue to draw players, and demand hasn’t disappeared. It’s just gone underground. This guide offers a clear view of Venezuela’s legal gambling framework, the market realities for industry operators, and what to watch for as the country edges quietly towards (or away from) digital reform.
Disclaimer
This information is not intended to be legal advice and is solely extracted from open sources. It should not be relied upon as a substitute for professional legal advice, and Altenar does not accept any liability in relation to its use.
The History of Gambling in Venezuela
Venezuela’s gambling tradition runs deeper than any official rulebook. Informal betting has long been part of everyday life, from cockfights in rural towns to card games in private clubs. Horse racing in Caracas was already drawing crowds in the early 20th century, while bingo halls and slot rooms operated quietly across the country. Though rarely regulated, these activities were widely accepted, anchored in local culture and tolerated by the state.
It wasn't until the late 20th century that the state took meaningful steps to regulate the sector. The decisive moment came in 1997, when Ley para el Control de Casinos, Salas de Bingo y Máquinas Traganíqueles was published in Gaceta Oficial No. 36.254. For the first time, Venezuela had a centralized legal framework for land-based gambling. The law established licensing conditions, such as a requirement that casinos be housed in five-star hotels, and created the Comisión Nacional de Casinos (CNC) as the regulator. It also capped foreign ownership at 80 percent and imposed financial contributions tied to the value of operators’ assets.
Further segmentation came with the National Lottery Law of 2000, which granted state governments the power to operate lottery games under the oversight of CONALOT.
Despite these reforms, the 2010s brought a sweeping government crackdown. Hundreds of casinos and bingo halls were closed under anti-corruption campaigns, effectively freezing the sector. That changed in 2020, when the Maduro administration, faced with an economic crisis, quietly authorized the reopening of licensed venues.
Online gambling remains legally undefined in 2025, neither prohibited nor licensed. Yet activity continues, drawing increasing attention as the state considers whether to regulate or stay silent. The result is a market suspended between restriction and revival, legally cautious, but economically hard to ignore.
Key Moments in Venezuela’s Gambling History
From informal betting in the early 20th century to sweeping legislation and recent reopenings, each milestone in Venezuela’s gambling history reflects the country’s evolving relationship with regulation, enforcement, and economic necessity.
Here's a concise timeline of defining events that brought the sector to where it stands today:
1908: Horse racing formally established at El Paraíso in Caracas
1971: SUNAHIP created to regulate horse racing/pari-mutuel betting
1997: Casino Control Law passed, centralizing land-based rules
1999: Decree No. 422 confirms SUNAHIP as the racing regulator
2000: Modern National Lottery Law framework introduced; CONALOT begins oversight role
2007: State begins revoking unlicensed draws and closing outlets
2011: Hundreds of casinos shut amid anti-corruption campaigns
2020: Maduro government reauthorizes licensed casino operations
2024: FATF adds Venezuela to gray list over AML deficiencies
2025: Online gambling still legally undefined, despite ongoing activity
Gambling in Venezuela Today
Venezuela’s gambling market in 2025 remains a patchwork of formal rules and informal realities. While some activities operate under well-defined legal structures, others continue in a legal vacuum, neither expressly banned nor officially authorized.
Regulated and Licensed Activities
Land-Based Casinos
Casinos are licensed under the 1997 Law and must operate within five-star hotels with a minimum of 200 rooms. The CNC issues licenses and requires incorporation as a local company, with foreign capital capped at 80 percent.
Bingo Halls and Slot Rooms
These fall under the same legal framework as casinos but are permitted in hotels rated three stars and above or in specially authorized facilities. Operators must meet strict capital requirements and demonstrate the separation of bingo operations from slot machine areas.
Horse Racing and Betting
Pari-mutuel horse betting remains one of Venezuela's oldest legal gambling activities. Regulated by SUNAHIP under Decree No. 422/1999, racetracks must be licensed, and betting systems must comply with the regulator's operational and transparency standards.
State Lotteries
Lottery activity is governed by the 2000 National Lottery Law, which grants operational authority to state governments. CONALOT handles oversight. Operators must be registered, and games must comply with distribution, reporting, and prize allocation rules defined by law.
Unregulated or Legally Undefined Activities
Online Casinos and Sportsbooks
There is no legislation explicitly permitting or prohibiting online gambling.
Supplier Licensing
Venezuela has no formal licensing scheme for software or platform suppliers.
Looking Ahead
Discussions about formalizing the sector have surfaced intermittently, but no concrete legislative initiatives are in motion as of October 2025.
Gambling Regulators and Their Role
Venezuela is governed by a well-defined set of authorities that each control a distinct part of the regulatory machinery. From land-based casinos and slot halls to racetracks and lotteries, oversight is divided among a select handful of agencies with specific mandates.
National Commission of Casinos, Bingo Halls, and Slot Machines (CNC)
The CNC, officially known as the ‘Comisión Nacional de Casinos, Salas de Bingo y Máquinas Traganíqueles’, is Venezuela’s primary regulatory authority for land-based gambling, overseeing licensing, operational compliance, and enforcement. Established by the 1997 Law for the Control of Casinos, Bingo Halls and Slot Machines, the commission authorizes venues, monitors technical systems, and verifies adherence to financial, operational, and anti-corruption standards. Casinos and bingo halls must be pre-approved by the CNC before opening, and remain under continuous inspection once active.
Its duties extend beyond licensing. The CNC also determines the technical requirements for slot machines and oversees the interconnection systems that report real-time game data. It works closely with tax authorities like SENIAT and occasionally coordinates with other agencies when compliance or fraud investigations arise.
Operators engaging with the CNC can expect a highly administrative process, governed by specific forms, capital declarations, and hotel-class verification, especially for casino applicants. The CNC holds considerable influence and remains central to any legal gambling operation in Venezuela.
National Superintendency of Horse Racing Activities (SUNAHIP)
The Superintendencia Nacional de Actividades Hípicas (SUNAHIP) is the regulatory authority overseeing horse racing and pari-mutuel betting in Venezuela. Created under Decree No. 422 of 1999, SUNAHIP licenses racecourses, supervises betting operations, and ensures the integrity of equine sports across the country. Its mandate includes financial control, registering horse owners and stables, and enforcing anti-fraud measures within the sector.
Operators must obtain SUNAHIP’s approval before conducting races or related betting activities. The agency also monitors racing schedules, issues regulations for jockeys and trainers, and works closely with the CNC and SENIAT, where gambling revenues intersect with tax and compliance requirements.
SUNAHIP plays a central role in maintaining the structure and continuity of Venezuela’s racing tradition, a sector historically rooted in both sporting culture and regulated betting.
National Lottery Commission (CONALOT)
The Comisión Nacional de Lotería (CONALOT) is the regulatory body responsible for supervising Venezuela’s lottery sector. Established under the National Lottery Law of 2000, CONALOT authorizes and registers operators at national and state levels, while overseeing the legality and transparency of draws. Its role includes approving game formats, monitoring prize distribution, and verifying the allocation of lottery revenues to social programs, as stipulated by law.
Operators must register with CONALOT to run legally sanctioned games. The agency also conducts inspections, investigates unauthorized draws, and coordinates with other regulators when activities cross into overlapping jurisdictions.
CONALOT plays a steady, if understated, role in Venezuela’s gambling system, particularly where decentralized lottery operations intersect with national oversight and compliance.
National Integrated Service for Customs and Tax Administration (SENIAT)
The Servicio Nacional Integrado de Administración Aduanera y Tributaria (SENIAT) is Venezuela’s principal tax and customs enforcement authority, including the fiscal oversight of licensed gambling activities. SENIAT is not a gambling regulator but enforces tax obligations across regulated operators. This includes collecting gaming taxes, monthly royalties on slot machines and tables, and contributions based on declared assets.
Licensed casinos, bingo halls, racetracks, and lottery operators must register with SENIAT, submit regular financial declarations, and comply with audit procedures. When fiscal non-compliance is suspected, the agency also coordinates with regulators such as the CNC, SUNAHIP, and CONALOT. Its function is essential to maintaining financial discipline within Venezuela’s legal gambling sector.
Current Legal Opportunities for International iGambling Operators
While Venezuela’s betting sector remains tightly regulated and limited primarily to land-based environments, there are still meaningful opportunities for operators willing to work within the framework. The following sections highlight the current legal avenues for brands looking to establish a presence or prepare for future expansion.
Land-Based Entry: Casinos, Bingo Halls, and Slot Operations
Operators seeking a legal foothold in Venezuela must look to the land-based sector. Regulated under the 1997 Law for the Control of Casinos, Bingo Halls and Slot Machines, this route permits licensed operations within five-star hotels for casinos, and three-star venues or special facilities for bingo halls.
Foreign capital is permitted up to 80% of a company’s equity, but applicants must incorporate locally and meet defined capital thresholds. Licenses are valid for ten years and are subject to monthly royalties and taxation on gross winnings. While highly administrative, this is currently the most defined and accessible legal channel for entry.
Horse Racing and Pari-Mutuel Betting - Licensed via SUNAHIP
Venezuela’s horse racing industry is regulated under Decree No. 422/1999 and supervised by the Superintendencia Nacional de Actividades Hípicas (SUNAHIP). This framework allows racecourses to offer pari-mutuel betting, with oversight of licensing, schedule management, and wagering compliance.
However, the system is primarily structured for racetrack operators and affiliated domestic partners, not independent betting platforms. Under SUNAHIP's current remit, there is no provision for online wagering, and foreign entry requires collaboration with established license holders.
Lottery Partnerships: State-Level Deals via CONALOT
Venezuela’s lottery sector operates under the National Lottery Law (2000), which CONALOT oversees. Each state has the authority to operate or authorize lottery products within its jurisdiction, creating fragmented but localized opportunities. Licensed operators must register with CONALOT, comply with rules governing prize allocation and game structure, and contribute revenue to social development funds.
While the framework does not currently support national-scale digital lottery platforms, state-level partnerships or technology supply deals may offer a route for international firms, particularly those with a track record in terminal-based or draw-driven games. These arrangements remain subject to local negotiation and regulatory approval.
Outlook and Trends
Casinos are operating again in Caracas, and bingo halls have reopened. But Venezuela's real growth story, the one that’s transformed markets across Latin America, is still missing. Without a regulated online gambling sector, the country is sitting on the potential it has yet to tap into.
On paper, at least, the fundamentals are promising. Venezuela’s population exceeds 28 million, with smartphone penetration growing steadily despite limitations in infrastructure. The appetite for betting is well established. Despite inflation and political volatility, horse racing, state lotteries, and licensed land-based gaming continue to draw players. But where neighbors like Colombia and Brazil have moved to license, tax, and attract digital operators, Venezuela has kept its online sector in legal limbo.
In 2025, there is no regulatory framework for online sportsbooks or casinos. The 1997 Law for the Control of Casinos, Bingo Halls and Slot Machines doesn’t mention digital wagering, neither does the National Lottery Law of 2000.
The impact is real. Operators cannot advertise legally, confidently raise capital, or access bank-integrated payment systems. The state, meanwhile, earns nothing from this activity. As is invariably the case in these situations, the lack of regulation leaves players unprotected and the government empty-handed.
Market Pros and Cons for Operators
While Venezuela lacks a formal path for digital entry, it hasn’t faded from view entirely. Operators with a regional strategy still see value in its scale, player appetite, and licensing legacy. Here’s how the opportunities and drawbacks currently balance out.
Market Advantages
✔ Untapped Digital Potential
No formal online regulation means early entrants could shape the future market.
✔ Established Gambling Culture
Horse racing, bingo, and lotteries are ingrained and widely accepted.
✔ Large Population with Mobile Access
Over 28 million people, with growing smartphone and mobile payment adoption.
✔ Reopening of Land-Based Venues
Government reauthorization signals renewed interest in sector growth.
✔ Proximity to Major LatAm Markets
Positioned near regulated markets like Colombia and Brazil, ideal for regional expansion.
Market Disadvantages
❌ Unregulated Online Sector
No legal framework creates compliance uncertainty and operational risk.
❌ Ongoing Economic Volatility
Inflation and currency instability may impact player spend and profit repatriation.
❌ Licensing Bureaucracy
Land-based licensing remains highly administrative and slow-moving.
How Venezuela Compares to Other LATAM Markets
Gambling reform has gained undeniable momentum across Latin America, yet Venezuela remains out of step with the rest of the region. While markets like Colombia, Argentina, and Brazil have made bold legislative strides, Venezuela’s regulatory framework is still anchored in the analog era, with no formal mechanism for digital gambling.
Colombia remains the region’s clearest benchmark. Since legalizing online gambling in 2016, Coljuegos has implemented a transparent licensing system, real-time reporting, and specific game testing, advertising, and tax compliance protocols. Colombia’s approach offers a high standard of operational clarity, and it’s paid off. According to Coljuegos, Colombia’s national gambling regulator, the country’s gambling industry generated approximately USD 175 million in total revenue in 2022, with online gambling accounting for USD 56.1 million of that figure.
Argentina’s model is more fragmented, with licensing handled at the provincial level. Buenos Aires province stands out as the most advanced, offering detailed rules and tax structures for online operators, but cross-border consistency remains a challenge. Still, Argentina has shown that partial regulation can still drive meaningful digital market development.
Brazil, while slow to act, is catching up fast. With fixed-odds online betting approved and full-scale casino regulation under discussion, the region’s largest economy is finally opening its doors. And its scale means the rest of LatAm is watching.
By comparison, Venezuela’s approach looks frozen. There’s a functioning land-based regime but no digital licensing, sandbox framework, or public roadmap for online reform.
For international operators, this raises two questions. Is Venezuela too early to enter, or too strategic to ignore? If the rest of LatAm is any guide, markets don’t stay closed forever. And those with local knowledge, alignment, and brand familiarity may find themselves first in line when the door opens.
Ready to expand in LATAM? Book a demonstration of Altenar’s advanced iGaming platform trusted by operators across regulated and emerging markets. Book a demo today to see how our all-in-one modular solution supports local regulation, payment integration, content adaptation and growth across the region.
Disclaimer
This information is not intended to be legal advice and is solely extracted from open sources. It should not be relied upon as a substitute for professional legal advice, and Altenar does not accept any liability in relation to its use.
