Colombia is a country situated in the north of South America. It has a sound and effectively controlled gambling sector, which is more so a haven for bookmakers and sports betting addicts. This paper aims at discussing the current Colombian legal framework for gambling with a special emphasis on Colombia bookmakers and sports betting. First, we will introduce the history, the regulation authorities, the types of licenses, the fees, and the sporting events that have developed the passion for sports in Colombia.
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Table of Contents
Summary of Key Events
History of Gambling Laws in Colombia
Gambling is governed by the Colombian Gambling Act of 2001 that is Law 643, with administration and control of gaming being done at both national and regional level.
Key Historical Milestones
- 2001: Adoption of the Colombian Gambling Act is also put in place to provide the legal oversight on the gambling sector.
- October 2016: The eGaming Act is passed into law to enable operators to offer interactive gaming including betting and poker services.
- 2021: The issuance of Resolution 036784 by Coljuegos to deal with pathological gambling.
- 2023: The most recent of such actions is the Coljuegos’ issuance of Resolution 17474 that alters the conditions for license applications.
Regulation in Colombia Bookmakers
The oversight of gambling activities in Colombia is divided into two levels: National and regional as well as At national level, Coljuegos is the main regulatory body while at the regional level, governance is carried out by the respective regional government under the supervision of the National Council of Games of Luck and Chance (CNJSA) and the Health Superintendency.
National Level
- Coljuegos: The state regulatory body which has the mandate of coming up with new rules, agreements, and resolutions to enhance legal certainty for the investors.
Regional Level
- CNJSA: Regulates the management by the regional authorities.
- Health Superintendency: Has a part in the management and regulation of gambling operations at the regional level.
Forbidden and Permitted Types of Bets
Colombian law defines the types of bets that bookmakers can offer:Colombian law defines the types of bets that bookmakers can offer:
Allowed Bets
- Sports Events: Real matches betting on football, tennis, and basketball and so on.
- Non-Sporting Events: Wagers on other real life events which are not sporting events.
- Virtual Games: Virtual sports and instant games: betting on horse races, greyhounds, car races; playing bingo and others.
Prohibited Bets
There are certain prohibitions and conditions that are set, especially in the draft for online gambling like not allowing the provision of Keno.
Bookmakers License and Fees
According to the regulation in Colombia, gambling permit is awarded through concession contracts and not through licenses. Here are the details:
Types of Licenses
- Concession Contracts: These contracts are given to the operators to allow them to conduct different forms of gambling business.
- Public Tender: Certain games are provided on the basis of a tendering system which allows the exclusive right to offer the game.
The Term and the Validity of Licenses
- The time frame for concession contracts is between three to five years.
- For Baloto, Super Astro, and pari-mutuel betting only one license per type is allowed that is provided for five years by a public tender.
- No cap on the number of licenses for online betting and gaming and land based establishments.
Fees
- Royalty Payments: It should be noted that operators pay royalties for the right of exploitation instead of taxes for games. These royalties are used in financing the public health services.
- VAT: Only relevant to the land based games and not the internet games and the lotteries that are based in a certain region. The standard value added tax rate is 19%.
- Tax on Winnings: A 20 percent tax on winnings to be deducted by the operator at the time of fund withdrawal or prize disbursal.
Sports betting of Colombia Bookmakers
Sporting activity is extremely popular in the country and this in turn has spurred the interest in sports betting in the country. Football, cycling and boxing are the most popular sports in which a large number of betting options can be found.
Sporting Event Glory Milestones
- 2001: An unbeaten run in the Copa América tournament and Colombia has not conceded a goal.
- 1947 and 1965: Colombia baseball team in the amateur category emerges champions of the world.
- 2000: Maria Isabel Urrutia triumphs for the first Olympic gold medal in Colombia in weightlifting.
- 2016: This is the best that Colombia has done at the Rio Olympics getting three gold medals.
- 2010: COLombia compete in winter olympics, this is quite a feat for a country that is mostly tropical.
Conclusion
Colombia’s gambling industry is one of the most properly governed and inviting to investors, which opens a vast prospect for bookmakers and betting fans. Thus, knowing the history of the country, the legal requirements, the types of permits, and the well-developed sports culture, it will be easier to make one’s way in the Colombian gambling market.
FAQ about Colombia Bookmakers
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