More than 12 years ago, banks fought against permanent bets in order not to be deprived of the slice of money orders and remittances that at that time was around 2,500 million dollars and that by December 31, 2021 closed at the not inconsiderable figure of 8,000 million dollars.

With Ruling C-823 of the Constitutional Court of November 2, 2011, the banks' claim to prohibit money orders outside the financial system was put to an end, by establishing that money orders were not financial activities, because they neither capture money from the public nor are they financial intermediaries. That is to say that they did not exercise financial activities, deciding then that the money order was just another order, but of money and could not be conceived as a collection of public resources or as financial intermediation.

This round was won by the chanceros (salesman), making them the preferred means for Colombians to make money orders due to their proximity to the end customer as well as their varied portfolio.

Today, money orders are a billionaire source of income for permanent betting companies that ensure financial muscle and cash flow. By acquiring BALOTO, these companies consolidate their presence and become a conglomerate that will concentrate more than 90% of the money coming from the money orders, since, although BALOTO does not generate the expected profits from the sale of the game, it does leave an interesting percentage from the commissions of remittances and intermediation in the payment of different agreements.

Needless to say that it is a source of pride to witness how Colombian companies have learned the know-how of many businesses, but at the same time it is intimidating and not so healthy that so much concentration of power ends up forming a dominant position and becomes a monopoly, since they are in the process of developing an exclusive payment gateway for the sector, in sports betting, they generated a scratch and win through other operators, they operate localized games and now the jewel in the crown: the Baloto.