Betting Sites in Chile

Chile is situated in the southwestern part of South America, on the western slopes of Andes Mountain range; to the east of it lies Argentina, while to the north are Peru and Bolivia. Chile has been an independent nation since 1818 and during the course of the years gambling has been legalized and has been an established business in the country. It is, therefore, vital to get to know the sports betting environment. This blog post describes the general information about betting sites in Chile, historical background, the current state of laws, and the best platforms.

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Table of Contents

Summary of Key Events

1812: A new type of gambling laws were introduced.

1990: Legality of horse racing betting.

2008: Fixed odds sports betting as a form of gambling.

2023: New laws passed in the previous year to govern the online gambling.

2023: Proposal for the creation of the Federal Gambling Bill (035/2022).

Evolution of Gambling Laws in Chile

Chile the South American nation has had a long history of regulating and legalizing gambling as early as the 1800s. Below are the important historical events:

• 1812: Chile saw their first laws being passed that dealt with gambling.
• 1990: The only form of legal gambling was though the pari-mutuel betting on horse racing.
• 2008: Polla Chilena which is a lottery operator was allowed to offer the fixed-odds betting.

Regulatory Agencies of Betting Sites in Chile

Various organisations regulate the gambling business in Chile to guarantee its adherence to laws and rules.

• Superintendence of Gaming Casinos (SCJ): It is the main watchdog institution over casinos and related gambling businesses.
• Commission for the Financial Market (CMF): Regulates the financial flows connected with gambling, to avoid performing any actions that are against the law.
• Internal Revenue Service (SII): Regulates proper taxation of the gambling gains.
• Financial Analysis Unit (UAF): Accomplishes the professional assessment of financial records to identify and counter the phenomenon of money laundering.

These are the agencies that collaborate in order to ensure provision of a safe and controlled gambling environment in Chile.

Prohibited and Permitted Bets

Knowing what is legal and what is not will help you avoid trouble with the law and only bet on the allowed types of bets.

• Permitted Bets:
• Horse racing
• Fixed odds sports betting
• Lottery and scratch cards
• Prohibited Bets:
• Placing a bet on sporting activities which are unlawful
• Bet with another person’s account
• Manipulating of betting events in order to influence the result.

The following are consequences of the breach of these rules according to the legislative articles of the year 2023: Fines and imprisonment.

Gambling Licenses and Fees

To get a gambling license in Chile one has to go through several procedures and pay for it as well.

• License Types:
• Casino operating licenses
• Lottery retail licenses
• Temporary online gambling licenses
• Fees:
• An annual fee of $70,000 for use of the trademark.
• Operator to pay 20% of their GGR as tax.

Licenses for online gambling are still being debated and will most likely be regulated by the end of 2023.

Best Betting Sites in Chile

Many bookmakers have captured the hearts of the Chilean players

Dafabet:

Dafabet

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188Bet:

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Reputable worldwide bookmaker
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Number of sports and markets to choose from

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Betandyou:

Betandyou

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24/7 customer support
Wide range of markets

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Due to the numerous betting options available, these betting sites are popular among the Chilean population.

Milestone Events in Sports Betting

Some key events in the Chilean history have influenced the sports betting market in the country.

• The beginning of pari-mutuel betting in 1812.
• Legalisation of the fixed odds sports betting in 2008
• New legislative frameworks to be adopted in the year 2023.
• Formation of a committee to look into the affairs of football clubs and their link with gambling firms in 2023

It can therefore be viewed that these events have played a part in the development and control of the industry.

Famous Sports Personalities of Chile

Many great athletes have emerged from Chile and they have done the country proud.

Alexis Sanchez:

• Represented some of the big and strong clubs in Europe
• Important personnel in the Chile’s national football squad

Fernando Gonzalez:

• Crowned the French Open champion in the year 2007.
• Ranks the fifth among the best in the world.

Arturo Vidal:

• Former Bayern Munich and Juventus player
• Famous for his rather rough playing conduct and the effectiveness in scoring goals.

These sports stars not only have proved themselves in their respective arenas but also have encouraged the people of Chile to take to sports.

Gambling laws in neighboring countries

This will enable the researchers to understand the gambling environment of the neighboring countries.

Argentina:

• The rules that are set with emphasis on combating the immoral activities such as gambling.
• Several bodies to ensure that the organizations adhere to the set standards.

Peru:

• Sports betting is legal with distinct permits for the providers.
• Some of the authorities concerned with the provison of fairness and prevention of excessive gambling

Bolivia:

• Specific types of legal gambling that are mainly based on lotteries and bingo are allowed.
• The role of those bodies, which are responsible for the regulation of taxes and prevention of their evasion.

All these countries have their respective ways of controlling the gambling business.

Conclusion

The sports betting industry in Chile is diverse and continually developing, which has a long history and bright perspectives. Presumably, such information which focuses on the aspects of strict regulations along with a variety of attractive bets, will contribute to improving the bet experience. It is always essential to understand the rules, as well as the right sites to use whether you are a regular or a beginner.

FAQ for Betting Sites in Chile

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