Colombia is a very interesting leading case in Latin America for the international companies as the body regulator have incorporated most types of gambling to the regulation including casino and sports betting, with a great job in terms of implementation, results, and tax collection.
Taking this gambling variety into account, the market has become very important according to experts based in Europe, which have been analyzing the markets during the pandemic. Also, they assure that Colombia is leading the way in Latam, as the country set many of the trends and outcomes that the sector will see happening shortly elsewhere in the region. In terms of the end-user, shows players' preferences and adoption curves, so companies do want to keep a close eye on what is going on in the country.
Colombia has a very solid regulatory framework that presents important indices in this industry and has a market in an optimal state of maturity perceptual to innovations in the area of online and retail gaming, regulated markets will always be an attractive scenario for the companies.
It provides protection to the player, guarantees a level of quality in the service, it generates jobs and governments collect taxes. In countries where gambling is not regulated, people play all the same and the informal sector grows.
Important things are being done in Colombia, its local economy is reacting positively which makes it an important stage for the digital offers aware of the difficulties that the pandemic has left in the world's economies, the dynamics that the gambling industry has taken after the pandemic in the country has been impressively high, as nearly all the gambling market its already reopened.
It is expected a slightly calmer and more controlled scenario in health and economic issues for 2021 but the addition of live dealer gaming makes the available gambling spectrum even broader, which results in a more competitive and interesting offer to players. The combination of online and land-based in 2021 will give the opportunity for real omnichannel strategies and it will be interesting to see how the market and the players evolve to those possibilities.
online gambling has been around for a while, and the lack of action in catching up with it left a lot of companies and jobs very exposed and defenseless, reason why advances need to come thoughtfully as well as swiftly. New verticals are now available to be offered to Colombian players and this trend probably will continue during 2021 as well. The industry is growing as international operators’ partner with local ones.
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The Secretariat of Prizes and Betting (SPA) - an entity of the Brazilian Ministry of Finance - recently issued Ordinance SPA/MF 722/2024, which details the technical and security requirements that sports betting and online gaming operators must meet. The technical requirements focus on the technological infrastructure of the betting systems. Specifically, all authorized operators must store the betting system and the corresponding data in data centers located in Brazil.
In exceptional circumstances, systems and data may be located outside Brazil, but must meet certain criteria. Operators must present to the SPA an explanation of why their systems are kept outside Brazil. The data center must also be ISO 27001 certified.
These conditions include that the countries have an International Legal Cooperation Agreement with Brazil in civil and criminal matters. Data owners abroad must authorize data transfers in advance. To facilitate effective supervision, operators must provide the SPA with data on bets, players, customer portfolios, legal destinations, and other operational information. This manual will soon be available on the website of the Secretariat, which may request additional information from the operator at any time.
On the other hand, operators must obtain certification of their platforms and systems from entities recognized by the Ministry of Finance. They must meet strict technology and security standards to protect consumers against potential fraud or unauthorized access.
Ordinance 722 SPA/MF 722 was published in an extra edition of the Official Gazette of the and can be consulted at the http://www.in.gov.br/web/dou/-/portaria-spa/mf-n-722-de-2-de-maio-de-2024-557715851
Senator Angelo Coronel, from the PSD party in Bahia, seems frustrated with the delays in implementing the law regulating sports betting in Brazil. He criticizes the Ministry of Finance for its sluggishness in collecting the grants for operating licenses, despite the estimated significant revenue of at least R$5 billion that could benefit the public coffers.
The senator views this potential revenue as a means to address other fiscal issues, such as compensating for payroll tax exemptions for certain sectors and small municipalities, which have faced legal challenges.
Caixa Econômica Board postpones decision on lottery transfer.
Although the law regulating the betting market was passed at the end of 2023, the appointment of the head of the Secretariat for Prizes and Betting, the Treasury body responsible for overseeing betting operators, only occurred recently. Senator Coronel expresses his frustration with this delay, emphasizing that Congress acted promptly in approving the legislation, but the government has been slow to implement it.
The taxation structure outlined in the law includes a 12% levy on bookmakers’ revenue and a 15% tax on punters’ winnings. These measures were part of Finance Minister Fernando Haddad’s plan to help achieve a zero fiscal deficit by 2024.
The Secretariat for Prizes and Betting is currently focused on drafting regulations governing the operation of the betting market in Brazil. Once these regulations are in place, interested legal entities will undergo evaluation, including criteria related to integrity and prevention of fraud. Over 130 companies have expressed interest in operating in the Brazilian market.
It’s highlighted that the law provides legal entities operating in Brazil with a minimum of six months to comply with the regulatory provisions once they are established. Senator Coronel hopes that the newly appointed Secretary for Prizes and Betting, Regis Dudena, will expedite the regulatory process.
The LifeMiles loyalty program and Codere launched a promotion aimed at the regulated market of Colombia and which has the legendary and much-loved former soccer player Carlos "El Pibe" Valderrama as the protagonist.
To participate, users must register their LifeMiles account number in the “Promotions” section of Codere, and then bet on any sport from COP 100,000 (USD25) with a minimum odds of 2.0. After that, they will begin to accumulate LifeMiles miles.
LifeMiles is a loyalty program, with more than 9 million members and hundreds of allied businesses (including Avianca, Bancolombia and many more) where members can earn and use their LifeMiles.
Can earn LifeMiles through our partner businesses: • On everything you buy, using an Avianca LifeMiles credit or debit card. • For air tickets, hotel stays, car rentals and other travel-related activities. And now to play in Codere.
The sale process of Enjoy is still in the early stages, but it already has several interested parties in its assets.
According to the Chilean press, Logrand Entertainment, the main target as a possible buyer in recent months, is interested in acquiring the operator's positions. However, the rooms in Viña del Mar, Coquimbo and Pucón would be left out of the equation.
According to Diario Financiero, the company considers the prices paid for these permits “stratospheric”, so it would be more profitable to pay the guaranteed notes. In this way, other operators such as Dreams and Marina del Sol would have the opportunity to invest there.
On the other hand, Enjoy's perhaps most relevant asset, the Punta del Este casino, is the one that generates the greatest interest in international companies. There would already be advanced negotiations with five potential buyers, despite certain negative projections in this regard.
The imminent regulation of gambling in Brazil, which could include physical casinos, would be detrimental to the Uruguayan operation, whose main clients come from that country.
However, the Plaza Esteña is relevant beyond its games room, as it is a central destination for tourism in the region. In this way, it is very likely that it will remain one of the most important assets of the Chilean company.
This Wednesday the Brazilian iGaming Summit 2024 / BiS SiGMA Americas 2024 Congress began at the Transamérica Expo Center in the city of Sao Paulo.
The opening speech was given by Alessandro Valente and Carlos Cardama, co-founders of the event, together with Eman Pulis representing the SiGMA Group.
“We have held a fair that really is an example for all Latin America, I don't know if for the whole world. But, with great humility, we thank you all for your participation,” said Cardama,
Who also highlighted the current moment in Brazil “which is one step away from being First World because of all the technology we have here.”
The Congress will take place on April 24 and 25 with presentations from iGaming industry experts and large companies to explore new advances in technology and strategies.
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