Colombian Online Gambling Scene Overview
Legal and regulated, online casinos in Colombia make up a significant portion of the online gambling landscape in the country also populated by legitimate sports betting platforms. With Colombia being the fourth largest internet market in Latin America and mobile internet penetration expected to reach nearly 80% by 2029, online gambling sites and mobile casinos, in particular, are rapidly gaining popularity.
Colombia, recognising the potential of online gaming, was one of the first Latin American nations to establish the infrastructure for a regulated online gambling market. As a result, Colombian players can play legally at EICE Coljuegos-licensed casinos, the principal Colombian gambling authority, while the country benefits from the revenue online casinos generate, as it directly funds public health services, science and innovation.
Outline of Gambling Regulations in Colombia
A South American pioneer in gambling regulation, Colombia legalised gambling as early as 1991. Although the market was a state-dominated monopoly for the first decade, it started to become more liberal at the turn of the century, and the process of making the Colombian gambling environment more player-friendly continued at a rapid pace since. Let’s look at the key milestones that defined the Colombian gambling scene:
- Land-based gambling became legal in 1991, but only state-owned companies were allowed to operate.
- The Colombian Gambling Act of 2001 liberalised the landscape for privately owned casino operators.
- The Coljuegos, the chief gambling regulatory body in the country, oversees the Colombian gambling market and issues licences.
- In October 2016, the eGaming Act was adopted, allowing online casino operators to apply for online gambling concessions.
- In 2017, the first online gambling licence was issued.
With its forward-thinking approach, Colombia became the model for all Latin American countries for regulating gambling. It requires operators to incorporate various player protection mechanisms and adhere to stringent standards. Additionally, Colombia imposes a gross gaming revenue tax on gambling companies to fund health services for its citizens.
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