Gaming now
machines did not generate sales. Te changes meant operators paid exclusively for operating rights of 12 per cent on gross revenues as long as the slots met the minimum connectivity and industry standards which Coljuegos set out.
ONLINE GAMBLING
In 2013 Coljuegos released a statement to the press saying that it was “carrying out the necessary studies to regulate games of chance on the internet, in order to offer new alternatives for the market.”In the same year, in what was to be believed to be a move ahead of the creation of a set of new regulations, the board issued a number of warnings to unlicensed operators accusing them of undermining the funding of public health services.
Online gambling was finally legalised in 2016 and Colombia’s regulations for online-based gaming, were the first regulation of its kind in Latin America. Since that time Coljuegos has blocked over 2,600 sites from offering their services to locals. At the same time it has gradually begun to liberalise
Online gambling was legalised in 2016 and Colombia’s
regulations for online gaming, were the
first regulation of its kind in Latin America. Since that time Coljuegos has blocked over 2,600 sites from offering their services to locals. At the same time it has gradually begun to liberalise the market and has increased the number of products on offer in the
territory including pari-mutuel sports betting which went live for the first time in 2014.
the market and has increased the number of products on offer in the territory including pari-mutuel sports betting which went live for the first time in 2014. In-play betting and eSports are also now permitted. Coljuegos gave the green light for live dealer casino games in April 2020 and only in April this year the board approved the regulation of online instant win games as well. Investors have also been encouraged by a clear set of rules when it comes to entering the Colombian market and reasonable tax rate as interactive games of chance are taxed at 15 per cent of gross win.
THE SIZE OF THE INDUSTRY
Both the land-based and online industry have grown over recent years. Te gambling industry made a strong comeback after the pandemic and is still showing signs of increased growth especially in the online sector. Overall the land based sector is growing too although at a much slower pace. After the pandemic, Colombia’s economy grew 10.7 per cent in 2021 and more than double Latin America’s average rate in 2022. However Colombia’s economy is expected to slow to 1.5 per cent this year compared to one per cent GDP growth projected for South America as a whole. While this is a sharp decrease the gambling market in Colombia will continue to grow.
In January this year the board announced that it had collected $81,248m pesos (US$16.8m) an increase of 27.5 per cent compared to the same period last year. Transfers to the health service cost $265,936m pesos (US$55m), which reflected a growth of 24.3 per cent compared to 2022.
In January casinos and bingo halls with slot parlours contributed $30,615m pesos (US$6.3m), while online gambling contributed $28,803m pesos (US$5.9m).
Meanwhile lottery game Baloto Revancha contributed $4,231m pesos (US$875,000) to the health service while the other nationally available lottery game Super Astro provided $11,783m pesos (US$2.4m). Meanwhile provincially run land-based lotteries, instant game Raspa y Listo (available in most provinces) and the popular lottery game Chance Game, which is run by a number of different operators, combined contributed $34,402m (US$7.11m) in licensing fees for the month of January.
P40 WIRE / PULSE / INSIGHT / REPORTS
accounts for around 1.7 out of every 100 pesos of Gross Domestic Product
(GDP), more than the manufacture of
textiles, clothing and footwear industries
combined. In addition, it is the economic
sector that has grown the most. According to DANE the online gaming sector has
grown by as much as 123 per cent in the last five years. The online betting market leader is now BetPlay with a market share of 51.43 per cent. This was followed by Wplay, with 14.55 per cent; Codere, with 11.79 per cent,
Yajuego, with 5.27 per cent; and
Rushbet, with 4.76 per cent.
When it comes to online gambling there are currently 16 operators authorised by Coljuegos and as of December 2022 there were a total of 8,059,313 active accounts (a player can register with one or more accounts on different platforms). According to Coljuegos, 2023 is projected to be another good year for the online gambling industry.
Tese figures are backed up by Te National Administrative Department of Statistics of Colombia (DANE) which published its latest findings in April. According to DANE, gaming now accounts for around 1.7 out of every 100 pesos of Gross Domestic Product (GDP), more than the manufacture of textiles, clothing and footwear industries combined. In addition, it is the economic sector that has grown the most. According to DANE the online gaming sector has grown by as much as 123 per cent in the last five years. Te online betting market leader is now BetPlay with a market share of 51.43 per cent. Tis was followed by Wplay, with 14.55 per cent; Codere, with 11.79 per cent, Yajuego, with 5.27 per cent; and Rushbet, with 4.76 per cent.
Meanwhile according to the Federation of Entrepreneurs of Games of Luck and Chance – (FECOLJUEGOS) of the total amount which goes to fund the health service 40 per cent is
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