Online betting in Venezuela is fully regulated for both online operators and players. Although there are a very limited number of licensed online casinos, Venezuela allows its citizens to play with foreign operators. This means that players have no problem accessing a wide range of different forms of online gambling without government interference.
Venezuela has a national lottery that is separate from the regular licenses. Venezuelan players have a wide variety of games, both online and in land-based facilities. The range of games is quite typical of the state lottery. Since 2012, it is possible to play in games based on mobile devices.
Since 2015, Venezuela has only granted 3 licenses for online gaming. And of these, only one gives permission to offer games to players who reside within the country. The remaining two licensed operators do not accept Venezuelan players and are located in an area of Venezuelan sovereignty on Margarita Island.
Apparently, Venezuela is not willing to grant any more licenses in the near future. With the limited number of sites it seems that everyone is happy and no interest has been shown by the government in obtaining higher levels of income for the public coffers through the expansion of the iGambling industry within its borders.
Venezuelan gamblers who enjoy games on foreign casino websites, have no protections whatsoever, even if they are completely legal. There are only strong protections for players from the only state-licensed online gambling site.
The government takes the regulation of these operators very seriously, and because of the seriousness with which they take it, there is not really any case in which any of the 2 companies that operate have real complaints from the players.
In any case, companies that have licenses are expected to adhere to the highest standards of safe play, including protecting the personal information and financial details of their players.