The Gaming Industry in Colombia – Are Online Casinos Legal?
Many countries in Latin America allow online casinos, even those that are set to protect players don’t say “No” when it comes to online casino games, such as table games and slots. It doesn’t come out as a surprise the number of gambling websites that have entered this region, given the number of clients. Latin America has become the part of the world where online casino games are thriving.
The Latin American market is home to many opportunities – emerging markets are dominating the iGaming industry in 2021. To have an overview of regulations in Colombia regarding the gambling industry, keep reading the following article.
Latin America is a place where markets have already chosen to regulate online casinos. Many countries with promising guidelines are expecting amazing levels of growth in the future. The governing status in Colombia has been updating its regulatory basis to better embrace the digital era. But not all countries have succeeded in regulating activities such as gambling (Colbet Casino). Casino gambling isn’t legal in all nations – currently, Colombia is the only country in Latin America that has established a fully regulated market, and is fully-controlled by the government.
The Coljuegos is responsible for regulating casino games in Colombia, while protecting their players to not become addicted. As mentioned, Colombia has become the only country in Latin America with a fully-regulated online gambling market. Now, Colombians are free to search for top casino websites to gamble, such as Colbet casino. Get a more detailed review of Colbet casino and learn how to play like a real gambler. However, there were many speculations about gambling in Colombia, and whether it’s safe or not to play. But the government in Colombia has been taken into account all the necessities and requirements so that Colombians can gamble safely. To stop the unregulated gambling websites, the Colombian government blocked any website owner who didn’t respect all the requirements.
With such initiative, Colombia is now expanding its portfolio of gambling and set new trends of a greater use of online casino games.
Online gambling is very attractive in Colombia. In fact, online casinos are now offering users thriving experiences. Regardless of how you choose to gamble (online or in a casino), you will enjoy a wide selection of games, such as baccarat, slots, poker, roulette, blackjack, and many more appealing games.
According to a study made in 2019, 70% or Colombians placed bets on online casino platforms, which is the answer to the question “Is online gambling popular in Colombia?”.
The online casino industry in Colombia
Colombia seems to be on track in Latin America: since online casinos were regulated, the iGaming industry suggests that the sector can generate more than $3.3 millions in revenue for the country. Coljuegos made it possible for online users to play on online casino platforms directly from their mobile phones, computers, or internet venues. Currently, the country hosts over 300 casinos online and blackjack, along other popular lottery games. Colombia’s iGaming industry have new regulations, including:
- Operators will need to impose a 15% charge on gross gambling venues, with ROI to the player higher than 80%.
- Operators are required to pay an annual tax of $200,000.
Are you looking for a licensed and trusted casino in Colombia? Colbet casino is providing users a wide variety of games, such as blackjack, slot machines, baccarat, roulette, etc. According to experts, the variety of gambling games Colombia offers now to players made the gambling market a lot more competitive globally.
Colombia has struggled to fight its bad reputation for years. It was known as “The Cocaine Capital in South America”. After finally being pushed away from its shadow, Colombia started to gain respect and reestablish its reputation. Moving away from its name as a drug country, Colombia is now enjoying an unbelievable success in the gambling industry.
Some of the many gambling venues can be found in Pereira, Cali, Medellin, Bucaramanga, Cucuta, Soledad, Barranquilla, Cartago, and Armenia. Similar to other casinos in the world, Colombians like to play in casinos that are located in big, luxurious hotels. Gambling in Colombia is more than just gaming: the experience will be incomparable.
An in-depth look into the iGaming industry in Colombia
For those who didn’t know or didn't understand the information above, Colombia is very strict on gambling laws. So, if any operator is found using outdated machines for playing, they are charged or even worse, imprisoned. Aside from slot machines, casinos online in Colombia offer games such as:
Legal casinos are found in the capital city of Bogota, and can be visited by tourists and locals with no constraints.
Online Gambling has seen a rise in Colombia, including casinos online, such as many international websites that accept Colombian iGamers.
When it comes to online gambling, Colombians can freely gamble on any foreign website. Annually, an online gambling exposition is held in Bogota, bringing a lot of people from Colombia, but also from the neighboring Latin America countries.
Gamblers from Colombia who love betting online, can do it on the internet, from the comfort of their homes, using their smartphones or computers.
Just as in most countries where gambling is legalized, in Colombia, locals and tourists aside must be 18 years old or older to be allowed to gamble. Colombia is the country in Latin America with most casinos online and gambling locations, with Bogota being the largest city with 24 gambling venues. In Colombia, there are 32 gambling sections, the largest one called “Casino Rio Pereira”, located in Pereira. There can be found anywhere around 400 machines and 20 table games.
Colombia is a country that has been through a lot of chaos until it finally became a successful example for other South American countries. Online gambling is not only fully-permitted in Colombia now, but also one of the fastest-growing markets.