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Colombia – Colombia’s online gaming soars in first half

By - 5 August 2019

Colombian gaming regulator Coljuegos has reported that the gaming industry has generated significant greater revenues for the government in the first six months of this year.

Ending in June Coljuegos, reported revenues amounting to $320,015,134,751 (US$96,905,430) which will be used to help subsidise the Colombian health system.

According to the head of the regulatory body Juan B. Pérez Hidalgo, the collection of taxation and fees increased by 13 per cent compared to the same period in 2018 when the board collected a total of $278,057,682,985.

Hidalgo highlighted the growth of the land-based sector which stood at $186,289,455,344. a growth of nine per cent compared to the first half of 2018. However it was the online sector which showed the largest increase growing by as much as 63 per cent compared to the same period last year and stood at $29,796,728,462. At the same time sales for lottery game Superastro also helped boost revenue for the board growing by 13 per cent and standing at $44,123,308,060
Hidalgo emphasised that in the first quarter of 2019, $308,333,140,260 was transferred to the different municipalities of the country’s departments, as well as to the governorates, via which the health of Colombians is financed.

The departments that received these resources to a greater extent from the gaming industry were Antioquia, Valle Del Cauca, Cundinamarca, Santander, Córdoba, Nariño, Norte De Santander, Tolima, Caldas and Risaralda.

Colombia was the first country to pass a comprehensive online gambling law in the region. Since passing the law in 2016 the Colombian gaming regulator Coljuegos has now granted 17 online gaming licences. Both local and foreign companies now offer their services online to Colombians. The market has shown rapid growth reflecting the potential of a well regulated market in other jurisdictions

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