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Gambling in Latin America

The figures from Colombia, in fact, corroborate the potential of this industry in the region. Colugos, the government entity created to manage games of luck and chance in the country, reported that in 2020 internet betting exceeded 8.3 billion pesos in sales (about US$2,256 million), that is, 73% more than what was registered in 2019. Despite the suspension of multiple competitions due to the pandemic, sports betting represented the great contributor to the sector, with 85% of the total collected.

The prizes for the players, for their part, reached 7.7

Billion pesos (about US$ 2,093 million), which is equivalent to a return to the player close to 93% of the total bets, an indicator that endorsed the advantageous that this activity has become for users.

The numbers are also positive for the State, because through the 3.7 million active accounts in the country, 393,827 million pesos were collected in 2020, about US$102.3 million.

And the trend does not seem to have a brake, because according to the president of Colugos’, César Valencia , in the first four months of this year the sector has registered total sales of 5.17 billion pesos (US$ 1,392 million), which means a growth of 54% compared to the same period in 2020. With all this, the Ministry of Finance forecast last month that games of luck and chance will contribute 6% to the growth of the country’s economy in 2021.

However, the disparate reality of Latin America is shown,

for example, in the case of Chile, a market where online games of chance are not regulated as such, except for some specific exceptions for certain entities.

“Given the lack of regulation in the vast majority of Latin American countries, it is an immature market. This means that everything remains to be done. Also, and 꽁머니 as a consequence of the pandemic, there is an anxious demand, which consumes what find”, reflects Francisco Javier Leila, former superintendent of Casinos and Games in Chile (2005-2012).

Aware of this gap, in January of this year, the Chilean Ministry of Finance reported that it will submit to Congress bills that seek to modernize and make the gaming casino industry and its operations more flexible in the context of the pandemic and the new reality. of the industry, safeguarding the interests of the treasury in the matter.

 

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