Colombia’s regulated online gambling market is on track to grow by 83% in 2019, according to the local Coljuegos regulatory body. Wednesday saw Coljuegos hold its annual ‘Accountability.

Colombian gambling regulator Coljuegos granted a first iGaming license, thus formally opening the country’s regulated iGaming market. Locally owned gaming company Aquila Global Group was the one to be authorized by the regulatory body. The operator is running the Wplay.co online sports betting brand. Aquila Global is planning to invest around COP15 billion (approximately $5. 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.

Entain Plc (formerly GVC Holdings) expects to launch its Bwin sportsbook property for the regulated Colombian online gambling market next month.

Martin Lycka, Entain’s Senior Vice President of US Regulatory Affairs & Responsible Gambling, told SBC Noticias about the fast-moving developments for the FTSE100 betting group within Colombia.

Colombia Gambling Markets

Having recently secured a Colombian online gambling licence by federal regulator Coljuegos, Lycka confirmed that Entain would push for an early 2021 market launch of its flagship Bwin sportsbook.

At present, Colombia operates as South America’s solitary regulated online gambling marketplace having launched its online gambling regime in 2017, allowing for foreign operators’ subject to securing local partnerships.

A Colombian launch sees Entain maintain the objectives of its new corporate charter, in which the FTSE firm has promised investor to operate 100% across regulated markets by the end of 2023 trading.

“Colombia is Entain’s first regulated country in Latin America – our bwin brand is the first truly global gambling brand to have become licensed in the market,” Lycka commented to SBC Noticias.

“Following our 9 December rebrand, we plan on growing our Colombian business to become one of the biggest and at the same time the safest online gambling offering in the country.”

Moving forward, Lycka detailed that Entain was also monitoring all LatAm market developments closely. “In accordance with our new strategy, we look into other opportunities across the region, in particular in Brazil, which we expect to regulate throughout next year,” he added.

Gambling industry is growing all the time and brings new options for customers. If we take a look at the Latin American gaming market, we can observe a $2 billion growth over the previous years. The top gaming countries in the Latin American continent are Mexico and Argentina while Colombia and Chile follow the same trend. Read on and reveal interesting things about local gambling.

Latin America Gaming: Current Situation

Latin America is a territory that includes 33 countries, 600+ million people and expanding tourism sector. In this booming atmosphere, both land-based and online operators are willing to invest.

Gambling in Latin American resembles Western betting cultures. The betting industry is used for various purposes including education and social interaction. For instance, Argentina is one of the successful gambling countries which connects local opinions and public regulations.

For more details about Latin American gambling, read on the following words:

Argentina Gambling

Argentina is well-known for relaxed gaming rules and excellent options for local customers and tourists. The country is a premium gambling destination with 80 land-based venues throughout the area. The biggest venue is located in the capital Buenos Aires casino. The entire complex was created two decades ago and includes 40,000 square meter space.

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Peru Gambling

Peru is another successful gambling destination in South and Central America. The country is home to 5 land-based casinos. The main casino property is Palacio Royal Casino located in several cities: Piura, Chiclayo, Majestic Casino, Huanuco and Arequipa. The other two famous casinos are Sheraton Lima Hotel and the Majestic casino. If you are betting on horse racing, then you should visit The Hippodrome de Monterico. Customers who are enthusiastic about Vegas Style casino should look for casinos in Miraflores, Tropicana, Atlantic City, and Mardi Gras. Games are safe for tourists with special weekend controls for increased protection.

Colombia Gambling Marketing

Brazil Gambling

Gambling in Brazil is still under strict prohibition. The state is looking for the best possible solution which will legalize both online and offline facilities. Brazil Congress is focused on the legalization of bingo halls, online gambling, casino resorts, and domestic Jogo de Bicho chances. At the moment, Brazil allows video poker and lottery betting.

Mexico Gambling

Mexico has been popular for gambling starting from first civilizations. The country allows both casino and sports betting options. However, residents prefer specific gambling opportunities like fronton, cockfights, and domino. When we talk about typical casino chances like slots and table games, they are preferred in Western civilizations. Asian countries also prefer table games.

Chile and Colombia Gambling

Both Chile and Colombia have legalized different gambling forms including poker, casino games, sports betting and rooster fights. However, Both Chile and Colombia don’t allow online gambling chances. Chile has prohibited online gambling while Colombia has no prescriptions in the same area.

Conclusion

As you can see, Latin America is one of the popular destinations for people worldwide. They come to the continent to see something new and casinos are the logical choice.

Colombia Gambling Market Size

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