Coljuegos steps up efforts to regulate online gaming market in Colombia (Image: coljuegos.gov.co).
Colombia is set to become the latest South American country to liberate the gambling market as the Gaming Control Board has ambitious plans to seriously improve the gaming revenue in years to come.
Coljuegos chief Juan Perez Hidalgo has moved to reveal that an average $74 is spent per person on gaming per annum at the moment, but he expects the amount to increase more than three times to $226 by 2025.
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!
The Gaming Control Board official believes they first need to work on removing the negative connotations of gaming and promote it as an entertainment and recreation activity.
In order to do so, Coljuegos has already started the war on illegal gaming operators, confiscating over 3,000 illicit slot machines, while making other advances as well.
The board is working hand in hand with the National Police and Ministry of Defence to improve their chances of closing as many illegal operators as possible, and the first results are already evident.
Coljuegos has become more effective in recent months, reducing the licensing procedures from 52 to 33 days, which in turn led to an 18% increase in land-based gaming operators income, totalling $222,232 million pesos (US$74.8 million).
Amusements Market Characteristics The amusements market consists of sales of amusements services such as amusement parks entertainments and gambling services and related goods by entities (organizations, sole traders and partnerships) that operate amusements facilities such as theme parks, water parks, amusement arcades, casinos, and sports betting facilities. Colombian gambling regulator Coljuegos granted a first iGaming license, thus formally opening the country's regulated iGaming market. Locally owned gaming company Aquila Global Group was the one to be authorized by the regulatory body. The operator is running the Wplay.co online sports betting brand. Aquila Global is planning to invest around COP15 billion (approximately $5. According to a survey conducted in 2019, over 68 percent of Colombians went to websites to place online bets.
Colombia's state lottery Baloto saw excellent results as their revenue rose from $70,936 million pesos in first ten months of 2015 to $109,709 million pesos during the same period of 2016.
Online Gaming Legislation Underway
Colombia Gambling Marketing
There were good news for online gaming operators targeting the Colombian market as Juan Perez Hidalgo also got the media acquainted with the new online gaming regulation.
Casino polana maputo mozambique. The new bill will require operators to apply for a license, meet strict requirements, get their systems certified and pay a fixed fee in order to offer online games to Colombian residents.
At the same time, the new framework is designed to protect the players from harmful effects of gaming, and ensure they only play at reputable gambling websites that offer fair games and keep their confidential information secure at all times.
The list of approved operators can be found on the Coljuegos website, while specialised gaming laboratories will be in charge of certifying all the gaming platforms offered.
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BACK TO TOP
Coljuegos steps up efforts to regulate online gaming market in Colombia (Image: coljuegos.gov.co).
Colombia is set to become the latest South American country to liberate the gambling market as the Gaming Control Board has ambitious plans to seriously improve the gaming revenue in years to come.
Coljuegos chief Juan Perez Hidalgo has moved to reveal that an average $74 is spent per person on gaming per annum at the moment, but he expects the amount to increase more than three times to $226 by 2025.
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!
The Gaming Control Board official believes they first need to work on removing the negative connotations of gaming and promote it as an entertainment and recreation activity.
In order to do so, Coljuegos has already started the war on illegal gaming operators, confiscating over 3,000 illicit slot machines, while making other advances as well.
The board is working hand in hand with the National Police and Ministry of Defence to improve their chances of closing as many illegal operators as possible, and the first results are already evident.
Coljuegos has become more effective in recent months, reducing the licensing procedures from 52 to 33 days, which in turn led to an 18% increase in land-based gaming operators income, totalling $222,232 million pesos (US$74.8 million).
Amusements Market Characteristics The amusements market consists of sales of amusements services such as amusement parks entertainments and gambling services and related goods by entities (organizations, sole traders and partnerships) that operate amusements facilities such as theme parks, water parks, amusement arcades, casinos, and sports betting facilities. Colombian gambling regulator Coljuegos granted a first iGaming license, thus formally opening the country's regulated iGaming market. Locally owned gaming company Aquila Global Group was the one to be authorized by the regulatory body. The operator is running the Wplay.co online sports betting brand. Aquila Global is planning to invest around COP15 billion (approximately $5. According to a survey conducted in 2019, over 68 percent of Colombians went to websites to place online bets.
Colombia's state lottery Baloto saw excellent results as their revenue rose from $70,936 million pesos in first ten months of 2015 to $109,709 million pesos during the same period of 2016.
Online Gaming Legislation Underway
Colombia Gambling Marketing
There were good news for online gaming operators targeting the Colombian market as Juan Perez Hidalgo also got the media acquainted with the new online gaming regulation.
Casino polana maputo mozambique. The new bill will require operators to apply for a license, meet strict requirements, get their systems certified and pay a fixed fee in order to offer online games to Colombian residents.
At the same time, the new framework is designed to protect the players from harmful effects of gaming, and ensure they only play at reputable gambling websites that offer fair games and keep their confidential information secure at all times.
The list of approved operators can be found on the Coljuegos website, while specialised gaming laboratories will be in charge of certifying all the gaming platforms offered.
YOU MIGHT BE ALSO BE INTERESTED IN THESE:
LATEST NEWS
Bring Down the Gods in BetSoft's Upcoming Take Olympus [..]
Casino cashier hiring abroad. Microgaming Announces Packed December Release Schedule [..]
Adventures Beyond Wonderland Released by Playtech [..]
MORE INTERESTING ARTICLES
The New Megaquads Slot Mechanic [..]
POPULAR PAGES VISITED BY OUR READERS
BACK TO TOPThe 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..
Casinos will reopen in two of Latin America's largest gambling markets later today after operators received a green light from authorities..
Colombia Gambling Market Size
New regulations for internet gambling will allow Panama to compete with Colombia as a pre-eminent licensing regime in Latin America,..
