There are strong indications that online gambling
consolidate itself as a leader in the casino industry in Latin America, with a presence in Chile, Uruguay, Peru, Argentina, Colombia and Panama. For the merger to go ahead, consent from third parties will need to be obtained as well as the approvals of the antitrust authorities and casinos in the respective jurisdictions in which both companies operate. Te transaction will also be subject to other conditions and regulatory approvals as well.
SPORTS BETTING AND ONLINE GAMING
Tere are strong indications that online gambling regulations will be approved by congress, although it is unclear for now if they will encompass both sports betting and online casinos. For now online gaming is expressly banned under Chile’s gaming laws of 2005, with the exception of Interactive lottery games and sports betting products offered by Polla Chilena. Te state-owned company operates and administers national lottery games including the fixed odds sports betting game, Xperto online. Sports betting shops are not permitted under Chilean law and this means that sports betting games such as Xperto face fierce competition from offshore operators, which are present in the market and popular with Chileans, despite being illegal. Xperto is specifically aimed at offering locals an alternative to the online market.
Horse race betting is permitted on- and off- course at all major racetrack facilities. Tere are eight racetracks in Chile and a network of
P40 WIRE / PULSE / INSIGHT / REPORTS
regulations will be approved by congress, although it is unclear for now if they will encompass both sports
betting and online casinos. For now online gaming is expressly banned under Chile’s gaming laws of 2005, with the exception of Interactive lottery games and sports betting products offered by Polla Chilena.
Teletrax horse race betting shops. Te Teletrax network also offers online horse race betting.
Up until recently, the board has only taken action on a very small number of occasions against offshore companies marketing themselves in Chile. According to figures released by SJC there are now more than 900 offshore betting sites that offer their services locally with the total handle now standing at US$150m.
For now much of the legislative focus is on online sports betting due to the increasing visibility of sports betting companies in local football, but the government has actually been looking at the issue for some time now. In July
2019, the Head of the SJC, Vivien Villagrán Acuña, said that there were a number of proposals on the table to legislate online gambling. Villagrán Acuña used the United Kingdom and Colombia as examples of two countries with good regulations in place.
In what came as a surprise to many, in July 2021 Te Ministry of Finance of Chile reported that it had prepared a draft regulation for online gambling and sports betting. Online gambling would fall under the supervision of the SJC.
Te government initiative will allow companies to apply for a five year renewable licence or a temporary licence for just six months. According to the draft bill:
Companies must: l
l
Be incorporated in Chile and report the origin of their funds.
Detail their shareholders and final beneficiaries.
l
Will be required to comply with certain anti money laundering measures.
If the bill is approved firms operating online games will pay:
l
A special tax of 20 per cent of their gross income.
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72 |
Page 73 |
Page 74 |
Page 75 |
Page 76 |
Page 77 |
Page 78 |
Page 79 |
Page 80 |
Page 81 |
Page 82 |
Page 83 |
Page 84 |
Page 85 |
Page 86 |
Page 87 |
Page 88 |
Page 89 |
Page 90 |
Page 91 |
Page 92 |
Page 93 |
Page 94 |
Page 95 |
Page 96 |
Page 97 |
Page 98 |
Page 99 |
Page 100 |
Page 101 |
Page 102 |
Page 103 |
Page 104
