A recent report has rocked Chile’s public debate by revealing that the country’s online betting market generated an estimated $3.1 billion in gross gaming revenue during 2024—yet remains entirely unregulated. According to U.S.-based consultancy Yield Sec, more than 5.4 million Chileans used online betting platforms in the past year, highlighting the scale of an industry that has operated under the radar.
The most explosive revelation? If properly regulated, the online betting sector could generate between $600 and $800 million annually in tax revenue—ten times more than the Chilean Ministry of Finance’s earlier projections. This windfall could fund critical areas such as healthcare, education, and public safety in a country facing a growing fiscal deficit.
Carlos Baeza, representing major platforms like Betano, Betsson, and Coolbet, emphasized the urgency: “This market is not marginal—it’s massive and consolidated. Regulation is not only necessary, it’s urgent.”
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However, the current bill under review in Congress proposes a 37.6% tax rate, far above the international average. Yield Sec warns this could push operators underground, creating a split between legal and criminal markets, as seen in other jurisdictions.
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Time is ticking. Chile must act decisively or risk losing control over a billion-dollar beast.
