Colombian sports betting launched

A new pari mutual sports betting offer has launched into the Colombian market, the first in over ten years.

Colombian state-operated offer Las Deportivas is licenced by regulator ColJuegos and powered by Corredor Empresarial.  It currently offers football betting but is expected to expand its portfolio as the regulatory framework’s modernization continues.

According to Coljuegos president, Cristina Arango, the gambling sector delivered its strongest growth in August 2014 primarily from the casino, bingo and slot game verticals:

–   Slot machines showed a 7 percent growth
–   Bingo increased 13 percent
–   Other localised games rose almost 26 percent
–   Concession contracts rose from 366 in 2013 to 384 at August 2014, a 5 percent growth.
–   Taxes revenues derived from popular games such as Baloto, Revenge and Super Astro increased 22 percent in September 2014 compared to the same period last year.

The president of Federación Colombiana de Empresarios de Juegos de Azar (Colombian Gaming Employers Federation), Baltazar Medinahis, said in the past that unlawfulness, legal uncertainty, insufficient supply and a “lack of interest by the State in the sector” were all factors holding back an industry that has wide potential.

Gaming regulator Coljuegos, developed in 2012, said its aim to modernise the market are making strides with the launch of Las Deportivas while developing strong standards of operation.

Coljuegos’ Arango confirmed the State expects to finalise regulations that include technical specifications pertaining to three new games; betting on racing and virtual sports by end 2014 and Keno within the first half of 2015.

“The idea is to have a wider choice of games that have proven successful in other countries, so that consumers have different options and income for health increase,” Arango said.

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