Colombia is a beautiful country situated in north of South America sharing its borders with Venezuela and Brazil to the East, Ecuador and Peru to the south and bordered by the Pacific Ocean to the West and Panama to the Northwest. Being a country with a great sports tradition and liberal gambling legislation, Colombia hosts many betting companies. Thus, learning about the Colombian gambling industry, the best betting sites in Colombia, and the role of sports betting in this country’s culture helps to gain a better perspective on the country.
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Table of Contents
Summary of Key Events
History of Gambling Laws in Colombia
Colombia has a rather rich history of gambling, which started as early as the beginning of the 20th century. Here is the brief chronology of major events:
- 1923: Such rules appeared for the first time and mainly concerned the regulation of lotteries.
- 1991: The Colombian Constitution then in force permitted government’s monopoly in the provision of gambling services.
- 2001: Colombia has Law 643 or the Colombian Gambling Act that was designed to regulate the operations of the gaming industry.
- 2016: The eGaming act was also put into motion which paved way for operators to engage in interactive gaming, betting and poker services over the Internet.
Regulatory of Betting Sites in Colombia
This paper aims at explaining the legal framework of gambling in Colombia, both at the national and regional levels.
- Coljuegos: This is the national gaming authority that is charged with the responsibility of administration and control of the same.
- CNJSA: The National Council of Games of Luck and Chance, for the supervision of which the Health Superintendency also deals with the regional level.
Prohibited and Permitted Bets
Betting is a common practice and people like placing their money on various activities; however, not all bets are permitted. Below is a brief of what is allowed and what is not allowed when using the application.
- Permitted Bets:
- Football betting, basketball betting and horse racing betting among others.
- Games of chance such as poker, roulette or slots.
- Bingo and lotteries.
- Prohibited Bets:
- Some of the instances include; Placing a bet on political results.
- Unauthorized online betting platforms.
Obtaining a Gambling License
In order to work, betting sites must have a license. Here are the necessary details of the process that you should know about.
- Types of Licenses:
- There is only one type of license and it is provided through concession contracts.
- Some games are tendered where they have to go out to bid for the operator.
- Fees and Duration:
- The time period for a concession contract cannot be less than three years and not more than five years.
- Fees range from the type of game and the extent of the operations to be carried out.
Best Betting Sites in Colombia
Are you in the mood for some betting? Below are some of the best betting sites in Colombia that you should consider;
Dafabet:
Dafabet
Provides a number of sports markets and good odds.
Has a mobile app to enable clients to place their bets while on the move.Up To £130 + £5 Free Bets
Betandyou:
Betandyou
Famous for offering a large number of markets for sports and virtual games.
Generally appealing to players who like conventional sports betting and other associated activities.Up To £120 + £30 Free Bets
188Bet:
188Bet
Best known for the interface and live streaming.
Provide a large number of events to bet on in the course of the event.Up To £100
Sports Events and Milestones in Colombia
Sporting has always been an essential part of the Colombian people with several main events that shaped the nation’s sports calendar.
Milestone Events in Sports
- 2001: Colombia emerged champions of Copa América with the record of not having conceded any goal.
- 2016: In Rio Olympics Colombia got its best results with three gold medals.
- 1947 & 1965: The amateur baseball team became the world champions.
Celebrated Sports Stars
- Carlos Valderrama: He was one of the best ever midfielders to ever grace the football pitch.
- Nairo Quintana: Two times winner of the famous race in bicycle riding called as Tour de France.
- Mariana Pajón: BMX cyclist, two time Olympic gold medalist.
Gambling Regulations in Neighboring Countries
Knowing the legal framework of Colombia is essential; however, it is also useful to examine how other countries approach gambling.
Venezuela
- Regulation: In running the gambling business, the government has the monopoly.
- Licensing: Strict licensing requirements.
- Taxation: this is true, especially when it comes to revenue which entails high taxes on gambling winnings.
Brazil
- Regulation: Soon made legal, sports betting.
- Licensing: Licensing arrangements have now been partly modified in the country.
- Taxation: Non-extortionate fees on operators, as well as winners.
Ecuador
- Regulation: Gambling prohibited since 2011 year for online and 2006 year for terrestrial.
- Licensing: No licenses issued.
- Taxation: N/A as the platform is banned in the country.
Final Thoughts
Betting in Colombia is a thrilling experience and a great chance for anyone from a professional punter to a beginner. Apart from legal aspects of the matter, one has to know how to bet and for what, as well as appreciate the great sports culture.
FAQ about Betting Sites in Colombia
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