Online Gambling Industry in Colombia

Online Gambling Industry in Colombia Grows

Much like any other gambling market across the world, Colombia’s online gambling industry continues to grow. And with a wider market for bettors, more and more are learning about becoming a bookie. And if you are using a good betting software solution, then your career will be easier to manage.

Colombia’s online gambling industry has grown up to two-thirds in the first half of the year alone. The Coljuegos, which is the regulatory body for gambling in Colombia, has released a report that explains the growth of the market.

Online Gambling Industry

Online Gambling Industry in Colombia According to the report, there is a 63% rise compared to last year in terms of the government’s part of the revenue from online gambling. The revenue for the government is at $8.9 million. This is higher than even Coljuego’s revenue growth, which is at 13% overall. Of course, bingo and casino are the largest contributors, while online gambling is still a small piece of the market at 9.4%.

Back in 2016, Colombia made history as the first country in South America to legalize and regulate online betting. The licenses for local operators were given in 2017. So far, there are 17 online operators in the country. As for online licensees, there are now 2.5 million customer account, which is far from 1.7 million last year. The country’s population is 50 million.

Following the footsteps of Colombia, neighboring countries are also catching up to the industry. Brazil has recently opened a consultation to the public about the matter of regulations on online gambling. While in Argentina, the government is currently vetting applicants for their slots for online gambling licenses.

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