{"id":4798,"date":"2019-03-01T13:12:35","date_gmt":"2019-03-01T18:12:35","guid":{"rendered":"https:\/\/www.realmoneygambling.com\/news\/?p=4798"},"modified":"2019-03-01T13:12:35","modified_gmt":"2019-03-01T18:12:35","slug":"colombia-issues-17th-gambling-license","status":"publish","type":"post","link":"https:\/\/www.realmoneygambling.com\/news\/colombia-issues-17th-gambling-license\/","title":{"rendered":"Colombia Issues 17th Gambling License"},"content":{"rendered":"\n\t\t\t\t\n<p>Colombia is in the spotlight of gaming events with <strong>Games and Betting S.A.S<\/strong>, a sport\nbetting company, obtaining the latest license to offer wagers on the outcomes\nof games in the country. <\/p>\n\n\n<p>The company has become the <strong>17<sup>th<\/sup> sportsbook<\/strong> to arrive on the Colombian quickly growing\nsports betting market. Approved by the local regulator, Coljuegos, Games and\nBetting will be running its activities for a period of three years, with a\nrenewal possible should everything go without complications.<\/p>\n\n\n<p>Games and Betting will establish itself in <strong>Bogot\u00e1<\/strong> and launch the <strong>Betjuego.co<\/strong> website, allowing users to\nplace wagers remotely as well as play various iGaming products, from slots to\ntable games. Games and Betting is coming into the playfield nearly 2 years\nafter <a href=\"https:\/\/egr.global\/compliance\/news\/colombia-issues-first-online-gaming-licence\/\">the\nfirst licenses<\/a> were handed to Wplay.co, the pioneer of sports betting and\ngaming in Colombia. <\/p>\n\n\n<p>A handful of other companies have entered the market as\nwell, starting with <strong>Betplay<\/strong> through <strong>Codere<\/strong> and some of the better\nknown-brands in the industry, including <strong>Ladbrokes\nCoral<\/strong>. The regulator has said that the number of registered gamers in the\nmarket has risen to <strong>2,011,664<\/strong> since\nJune 2017 when the first license was awarded. <\/p>\n\n\n<p>Even though Colombia has been adopting newcomers readily, <a href=\"https:\/\/www.realmoneygambling.com\/news\/labour-steps-up-efforts-to-restrict-gambling\/\">the regulatory climate has tightened<\/a> significantly, with the country introducing a slew of penalties for offenders. The regulator has threatened offenders with up to six years in prison on top of a hefty financial penalty.<\/p>\n\n\n<h2 class=\"wp-block-heading\" class=\"wp-block-heading\" id=\"the-benefits-of-sports-betting-and-igaming-in-colombia\"><strong>The Benefits of Sports Betting and iGaming in Colombia <\/strong><\/h2>\n\n\n<p>So far, the industry has been adding quite a bit to the\nfinances of the country. In 2018, money raised through taxation on iGaming and\nsports betting activities added \u20ac1.5 million for the healthcare system. <strong>Colombia\u2019s National Tax Directorate \u2013 DIAN<\/strong>\nemphasised on the efficacy of the taxation structure Coljuegos has introduced.<\/p>\n\n\n<p>Meanwhile, he regulator has been busy shutting down\nproperties that haven&#8217;t been licensed. In total, there have been 2,800\nshut-downs since <a href=\"https:\/\/www.igamingbusiness.com\/news\/colombia-clears-live-online-casino-global-poker-liquidity\">Colombia\nre-regulated its market to accommodate the needs of licensed operators<\/a> and\nbolster customer protection along with it. <\/p>\n\n\n<p>Coljuegos president Juan Perez Hidalgo commented the success of the newly-regulated industry last year:<\/p>\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>For the 16 authorized websites allowed to service online betting, they have registered a total of 1,695,614, with the highest recorded month being June 2018, due to World Cup 2018 The average of new monthly registrations is at 110,795 users.<\/p><p><\/p><cite><br \/><\/cite><\/blockquote>\n\n\n<p>Now that a 17<sup>th<\/sup> operator has appeared, the\nindustry will be even more competitive, which is good news for the state&#8217;s\ncoffers and customers alike. <\/p>\n\t\t","protected":false},"excerpt":{"rendered":"Colombia is in the spotlight of gaming events with Games and Betting S.A.S, a sport betting company, obtaining the latest license to offer wagers on the outcomes of games in the country. The company has become the 17th sportsbook to arrive on the Colombian quickly growing sports betting market. Approved by the local regulator, Coljuegos, [&hellip;]","protected":false},"author":10,"featured_media":4799,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[47],"tags":[272,28,273],"class_list":["post-4798","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-legislation","tag-colombia","tag-gambling","tag-license"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Colombia Issues 17th Gambling License<\/title>\n<meta name=\"description\" content=\"Colombia has issued a new gambling license to Games and Betting S.A.S, with the gaming and betting company launching its own online operations.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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