Games and Betting lands online licence in Colombia

28 February 2019

Colombian sports betting operator Games and Betting S.A.S has become the seventeenth company to be granted an online gambling licence in the country.

Issued by national regulator Coljuegos, the three-year licence will permit Bogotá-based Games and Betting to operate its domain, and offer online sports betting, slots and table games.

Since becoming the first South American country to regulate online gaming in 2016, sixteen other companies have been awarded igaming licences in Colombia., owned by electronic gaming machine firm Aquila Global Group, was the first operator to secure a licence under the regime in June 2017. 

Since then, the likes of Betplay, Codere, Luckia, Ladbrokes Coral and Cirsa joint venture Sportium and US operator Rush Street Interactive have secured licences. 

Coljuegos president Juan Pérez Hidalgo said that since the launch of the market, 2,011,664 registered accounts have been created across all licensed brands. 

The growth of the market has been supported by stricter penalties to stamp out unlicensed gambling, with hefty financial penalties and criminal sanctions imposed on those found to operate illegal gaming sites.

Perpetrators could face between six and eight years in prison and a fine of 248,435,000 Colombian Pesos (£60,900/€70,900/$80,900).