This week Colombia’s gambling regulator, Cojuegos, advised that three proposals had been drafted covering technical and regulatory requirements necessary for online gambling operations. Feedback of the documents has been made accessible to the public by the gambling regulator.
If approved, online gambling operators would be able to offer random number generator (RNG) casino games including roulette, slots, bingo, baccarat, and blackjack, in addition to cash poker games and tournaments. Real and fantasy sports betting would also be authorized by the draft, with parlay, exchange, and fixed-odd wagering all getting the nod. While live in-play betting would be allowed, it appears that online horse betting would be forbidden.
From all appearances it doesn’t seem that Cojuegos has set a limit on the number of online casinos it plans to issue, and the proposed regulations appear to be fairly standard. Colombian domains must be established by operators, advertisement would be permitted, an administrative fee of up to 1% of gross gaming revenue, as well as tax rates between 15 and 17 percent on gross gaming revenue would be required to be paid by the operators. The gambling regulator may choose to limit the type and number of bonuses that can be offered though.
Also stipulated in the draft is that licensed operators “additionally will pay eight hundred and eleven (811) monthly statutory minimum wage, which will be canceled during the twenty (20) working days of each year of operation,” according to CalvinAyre.
The move to regulate online gambling in Colombia is on the heels of the recent push in Brazil to regulate its own market. The fact that the economies of both South American countries have seen better days probably didn’t hurt.