Online gambling regulation is being considered in Colombia
Coljuegos, the South American country’s gambling regulator, drafted three proposals on the subject.
Colombia.- Last week Coljuegos posted a statement on its website, inviting to submit feedback on three online gambling regulation proposals. According to the drafts, licensed online gambling operators will be allowed to offer RNG casino games such as slots, roulette, baccarat, blackjack, bingo, cash poker games and tournaments. The proposals would also allow real and fantasy sport betting, fixed-odds, parlay, exchange wagering and live in-play betting. Online horse betting seems to be forbidden, though.
Operators would be compelled to use a .co domain as different gambling domains would be deemed illegal. Operators would be able to advertise their products but Coljuegos might control the numbers and types of bonuses they offer. The number of licenses Coljuegos may issue has not yet been determined.
The minimum tax rate operators would pay is 17 percent on gross gaming revenue and 15 percent on betting products that offer a minimum of 83 percent return to users. Coljuegos will charge operators an administrative fee of 1 percent. Operators will also have to pay an additional 811 monthly statutory minimum wage, which adds to 644,350 Colombian pesos (US$200) as of January 2015, but the draft does not specify how often this sum should be paid. Assuming it is 811 x the monthly minimum wage the amount to be paid will be US$162,200.
