Colombia to Boost Gaming with Video Bingo and Scratchcards

Colombia: A Role Model for the Gambling Industry in Latin America Expert opinion published in G3 Magazine and provided by Asensi Abogados Partner Juan Camilo Carrasco and Associate Ivan Mauricio Guzman

Colombia's gambling industry is a government monopoly and is governed by the Colombian Gambling Law 643, passed by Congress in 2001. Currently, Colombia is a benchmark for the gambling industry in Latin America, as the law provides a structure that allows for effective regulation by a national institution, the Coljuegos. The Coljuegos are given full autonomy to issue new rules, agreements and regulations, creating legal stability for investors, a regulatory body that supports operators, and an environment that protects investments, fully open to the participation of foreign operators in the local market.

Funds generated from gaming rights (gaming fees) paid to Coljuegos by Colombian and foreign companies are used to finance health services. As a result, according to the agency, by March 2020, all physical, direct gaming, lottery and online vertical exploitation rights amounted to COP139 billion 1 million (US$375. 99 billion), which will be transferred as revenue to Colombian health services.

In addition, Colombia has developed pioneering regulations for online gaming, the first in Latin America. With sales of $798 million in December 2019, GGR of $81 million, equivalent to $38 million, Colégos made a profit of $151 million, which was also earmarked for the country's health services. The regulations were introduced in 2016, and there are currently 16 licensed operators in the country. By March 2020, total revenues from online gaming in the country are expected to reach $33. 483 million and operating rights to 20, 240 million COP ($4, 500 million).

Looking at the market occupancy rate in this field, the biggest concern is 84 % for fixed betting (known as odds), 55 % for Barot, and 43 % for regional lots. 8%for online sports betting and 5%for live casinos. However, Colombian online gambling is growing steadily. Since the online gambling rules were implemented in 2016, the bazaar has grown from $ 24 million to $ 441 million (1. 533, 7 %) in 2018 on the Internet sales, and online in December 2019. Wallet reached $ 798 million. It indicates an increase of 2908 and 85 % in about two years of online participants.

The online market participants started their own business in Colombia, and the estimated GGR in 2017 was COP $ 23, 27 billion (US $ 6, 2 million), but in 2018, COP $ 198, 82 billion (US $ 52 million (US $ 52 million). ) In 2017, it increased to COP $ 309 and 71 billion (US $ 81, 38 million). In December 2019, this actually led to the rapid increase in the interests of regulatory authorities from COP $ 50 and 3 billion user fees. It increased from ($ 13 million) to $ 480, 890, 000, 000 to $ 4. ($ 12 million, $ 8 million) increased.

Colombia's online game bazaar is almost the whole) Game industry, the openness of the country's regulatory authorities, which provides a clear rule for entering Bazaar, and Colombia's current regulations, banks, and security The comprehensive strength of companies, taxes and investment standards to foreign members has become the main factor that ensures a sudden rise in the industry.

This openness is one of the important factors that made Colombia in the world and even the most measured online game market in Latin America.

COLJUEGOS has a total of 2. 761. 030 active online gaming accounts in Japan by December 2019, which has increased by 1. 091 % compared to 2017, and this market can enter the market. It is presumed that it is growing thanks to continuous support for adjusting complaints to highly sexual licensei. < SPAN> Looking at the market occupancy rate in this field, the biggest concern is 84 % for fixed betting (known as odds), 55 % for Barot, and 43 % for regional lots. 8%for online sports betting and 5%for live casinos. However, Colombian online gambling is growing steadily. Since the online gambling rules were implemented in 2016, the bazaar has grown from $ 24 million to $ 441 million (1. 533, 7 %) in 2018 on the Internet sales, and online in December 2019. Wallet reached $ 798 million. It indicates an increase of 2908 and 85 % in about two years of online participants.

The online market participants started their own business in Colombia, and the estimated GGR in 2017 was COP $ 23, 27 billion (US $ 6, 2 million), but in 2018, COP $ 198, 82 billion (US $ 52 million (US $ 52 million). ) In 2017, it increased to COP $ 309 and 71 billion (US $ 81, 38 million). In December 2019, this actually led to the rapid increase in the interests of regulatory authorities from COP $ 50 and 3 billion user fees. It increased from ($ 13 million) to $ 480, 890, 000, 000 to $ 4. ($ 12 million, $ 8 million) increased.

Colombia's online game bazaar is almost the whole) Game industry, the openness of the country's regulatory authorities, which provides a clear rule for entering Bazaar, and Colombia's current regulations, banks, and security The comprehensive strength of companies, taxes and investment standards to foreign members has become the main factor that ensures a sudden rise in the industry.

This openness is one of the important factors that made Colombia in the world and even the most measured online game market in Latin America.

COLJUEGOS has a total of 2. 761. 030 active online gaming accounts in Japan by December 2019, which has increased by 1. 091 % compared to 2017, and this market can enter the market. It is presumed that it is growing thanks to continuous support for adjusting complaints to highly sexual licensei. Looking at the market occupancy rate in this field, the biggest concern is 84 % for fixed betting (known as odds), 55 % for Barot, and 43 % for regional lots. 8%for online sports betting and 5%for live casinos. However, Colombian online gambling is growing steadily. Since the online gambling rules were implemented in 2016, the bazaar has grown from $ 24 million to $ 441 million (1. 533, 7 %) in 2018 on the Internet sales, and online in December 2019. Wallet reached $ 798 million. It indicates an increase of 2908 and 85 % in about two years of online participants.

The online market participants started their own business in Colombia, and the estimated GGR in 2017 was COP $ 23, 27 billion (US $ 6, 2 million), but in 2018, COP $ 198, 82 billion (US $ 52 million (US $ 52 million). ) In 2017, it increased to COP $ 309 and 71 billion (US $ 81, 38 million). In December 2019, this actually led to the rapid increase in the interests of regulatory authorities from COP $ 50 and 3 billion user fees. It increased from ($ 13 million) to $ 480, 890, 000, 000 to $ 4. ($ 12 million, $ 8 million) increased.

Colombia's online game bazaar is almost the whole) Game industry, the openness of the country's regulatory authorities, which provides a clear rule for entering Bazaar, and Colombia's current regulations, banks, and security The comprehensive strength of companies, taxes and investment standards to foreign members has become the main factor that ensures a sudden rise in the industry.

This openness is one of the important factors that made Colombia in the world and even the most measured online game market in Latin America.

COLJUEGOS has a total of 2. 761. 030 active online gaming accounts in Japan by December 2019, which has increased by 1. 091 % compared to 2017, and this market can enter the market. It is estimated that it is growing thanks to continuous support for adjusting complaints to highly sexual licensed.

Colombia's influence was the largest in Latin America, and on August 17, 2020, COVID-19 confirmed 489, 122 mutations, killing 15. 619. The official conclusion on the blockade was adopted by President IV Duka on March 25, 2020. Initially, the quarantine for 19 days was introduced nationwide, and in the Colombian land gambling section, which consists of poker operators, reels, aquerometers, bingo, casinos, desktop games, and barking at paid facilities. It included the closure of all spaces of the world's worldwide accumulation of people who are trading.

On March 24, 2020, Colombia's Meldo has officially taken measures to stop all lottery and land gambling. According to the ministry, less than 10. 000 people resell these games, the middle of these sellers is over 60, and as a result, they are included in groups that are increasing risk by COVID-19. I am.

In early 2020, Colf Egos considered the predictable rights of $ 463. 81 billion ($ 121 million). However, regulatory authorities announced a serious decline in profits, especially in May, the monthly revenue decreased by 96 %.

Regarding online gambling members, Corjegos announced a sudden drop in profits in April and May, but began to stabilize in July. Main members of the lottery industry: Loter. A de Bogot., Cruz Roja, Cundinamarca, Huila, Manizales, and Meta all have postponed their own execution until March and April, BOYAC Lottery. Dale, Bajel, Trima, Medel. According to the section, the initial cost was $ 50 billion. Kopeskiy $ ($ 12 million) or more, in fact, it will directly affect the benefits of healthcare sections that are needed to supply funds to the event to fight COVID-19.

Due to a serious financial blow to the medical department, President Duca IV has resumed some land activities (especially lottery and gambling) in order to increase the financial resources to the medical department in 2020. I allowed to do. However, the president has revealed that casinos, bingo, and video game terminals are not resumed in this law.

After the enforcement of the Cabinet Order, the sales of Barot (online game lottery) increased by 50 %. It was the game that provided more than 16. 820 million Colombians ($ 5 million) to the Colombian medical system. The operator, Baloto, has campaigned among Colombians, saying that playing gambling games is the "most realistic and effective way to contribute to Colombia's medical field."

In late June 2020, Colombia's land bass and online game category expressed concern about the resumption of casinos and bingo in the country, and more than 90 % of gambling operators were more than 90 % due to strict closure measures throughout Colombia. Faced by, more than 95 % of businesses have not been able to obtain credit slots during pandemics, exposing more than 240. 000 workers, and some multinational bingo and casino operators in this area. He said he had been kicked out of the market. According to experts, the section has now losing 135 billion Colombians ($ 41 million) in tax revenue, taking serious risks in the Colombian economy and medical divisions.