Online Gaming in Colombia

Colombia was the first South American jurisdiction to join the pool of iGaming licensors and regulators in July 2017, its regulating body adopting the name ‘Coljuegos’. As a relatively new introduction to the online gambling market, a Colombian gambling licence is less common than its UK, Malta or Curaçao counterparts.

It’s worth noting that things are done a little differently in this South American country, with the government operating a monopoly over all online gaming licences. In fact, the Constitution of Colombia of 1991 declares all games of chance to be state monopoly, revenues from which are to be used for social purposes.

This tight regulation can make the operation of a foreign owned company seem a little challenging. Operators must also be on the look out for developing regulations even after getting set up. However, so long as certain rules and legalities are strictly observed, a Colombian gaming license could be a highly lucrative business venture.

Is a Colombian iGaming license for you? Here are some quick facts:

Colombia hosts a population of 44 million

There are over 2.5 million active iGaming user accounts — a number that’s always on the rise

The total market capitalisation sits in the region of 101,490,878.00 Euros

A Colombian iGaming license only permits you to target only the Colombian jurisdiction

The fixed licence fee comes in at circa 200,000 Euros per year

Gaming tax is set to a highly competitive 15%, while the variable license fee is just 1%

Colombia’s legislation prohibits social media advertising, but Google ads have recently updated their terms to permit promotion within the jurisdiction

Modes of Payment - Credit Card (less popular) Land based shops (Vouchers can be sold in bars etc)

Regulatory Positions - MLRO

Our Services

Entrust your project into the hands of a professional team. We provide all the essentials on the ground in Colombia, whilst maintaining a European presence and contact point in Malta.

Legal and Advisory

  • Our advice spans the entire business life cycle, from the start up phase through to ongoing management and operation
  • We provide guidance focused on strategic business decisions alongside support services to increase efficiency
  • Our advice ranges the full spectrum including drafting of policies and procedures, appointment of directors, and guidance on regulator relations

Accounts and Audit

  • Our team will make light work of the complex tax, regulatory and commercial laws on your behalf
  • Our services include the preparation and audit of financial and meeting of all the requirements set out in Colombian regulation.
  • We perform system, compliance audits and all other regulatory audits to ensure your company consistently operates within the standards defined by Colombian authorities

Regulatory Compliance

  • Stay on the right side of the law throughout your operation in Colombia
  • We understand all aspects of operation including performance reporting, staff, marketing, and everything in between
  • Our processes will ensure that your company is operating in a compliant manner and across all requirements and regulations

The Team