Colombia Gambling Market
Having recently secured a Colombian online gambling licence by federal regulator Coljuegos, Lycka confirmed that Entain would push for an early 2021 market launch of its flagship Bwin sportsbook. At present, Colombia operates as South America’s solitary regulated online gambling marketplace having launched its online gambling regime in 2017.
- 18th Nov 2020 Written by: GamblingCompliance Reporters The president of Colombian gambling authority Coljuegos has resigned, according to national media reports. Since 2016, Juan B. Perez Hidalgo has led Coljuegos as it adopted regulations to establish Latin America’s first European-style licensing regime for online gaming and sports betting.
- Coljuegos, the national gambling regulator in Colombia, has revealed that the industry tax revenues totalled COL$ 680 million (€185,000) in 2019, with funds set to be distributed to Colombia’s national health services. The 2019 figure represents a 16% increase on the COL$574 million (€151,000) of gambling tax revenues collected during 2018. A breakdown of.
- According to a survey conducted in 2019, chance games were the favorite gambling activities of Colombians, favored by 55 percent of those surveyed. Try our corporate solution for free!
- Online Gambling in Colombia Apart from regulating the land-based gambling market, Coljuegos, the main regulatory body of Colombia, has also paid attention to online gaming. In fact, the Latin American country has become the first one on the continent to have a fully-regulated online gambling industry.
Much like any other gambling market across the world, Colombia’s online gambling industry continues to grow. And with a wider market for bettors, more and more are learning about becoming a bookie. And if you are using a good betting software solution, then your career will be easier to manage.
Colombia Gambling Market Size
Colombia’s online gambling industry has grown up to two-thirds in the first half of the year alone. The Coljuegos, which is the regulatory body for gambling in Colombia, has released a report that explains the growth of the market.
Online Gambling Industry
According to the report, there is a 63% rise compared to last year in terms of the government’s part of the revenue from online gambling. The revenue for the government is at $8.9 million. This is higher than even Coljuego’s revenue growth, which is at 13% overall. Of course, bingo and casino are the largest contributors, while online gambling is still a small piece of the market at 9.4%.
Back in 2016, Colombia made history as the first country in South America to legalize and regulate online betting. The licenses for local operators were given in 2017. So far, there are 17 online operators in the country. As for online licensees, there are now 2.5 million customer account, which is far from 1.7 million last year. The country’s population is 50 million.
Colombia Gambling Marketing
Following the footsteps of Colombia, neighboring countries are also catching up to the industry. Brazil has recently opened a consultation to the public about the matter of regulations on online gambling. While in Argentina, the government is currently vetting applicants for their slots for online gambling licenses.
But creating and running your own sportsbook is far from limited to big companies. In fact, PricePerPlayer.com sportsbook pay per head software has been registering new online bookies regularly. PricePerPlayer.com is one of the best and most affordable software providers in the market today.
The president of Colombian gambling authority Coljuegos has resigned, according to national media reports.
Since 2016, Juan B. Perez Hidalgo has led Coljuegos as it adopted regulations to establish Latin America’s first European-style licensing regime for online gaming and sports betting.
Perez...
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Colombia Gambling Markets
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