2006-07-19 09:25:27 · 1 answers · asked by bernieEC 2 in Business & Finance ➔ Corporations
One of the largest online casino sites are those of Bodog Entertainment Group operated by Calvin Ayre. His online gambling operation allowed him to be on the cover of Forbes magazine issue on the richest men in the world.
He operates his business in Costa Rica because its tax laws and regulations are very friendly and conductive to gambling business. The article quotes
"The government doesn’t charge businesses on money earned from other countries, and since Ayre doesn’t take bets from Costa Ricans, all Bodog revenues come from foreign lands."
Online gambling's biggest market is the United States. With Costa Rica's policy of not taxing businesses with earnings from other countries, then it is a safe haven for gambling operators as they basically end up not paying any taxes to anyone.
Ayre, however, was captured by the FBI.
2006-07-19 09:30:14 · answer #1 · answered by imisidro 7 · 6⤊ 0⤋