Colombian Gambling Regulator Coljuegos Issues Sixth Online Gambling Operating License

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Colombian Gambling Regulator Coljuegos Issues Sixth Online Gambling Operating License

The gambling regulatory body of Colombia, Coljuegos, has granted its sixth online sports betting license. The president of Coljuegos, Juan B. Pérez Hidalgo, revealed that the sixth iGaming operating license was awarded to Grupo Empresarial Geonline SAS, which operates the online gambling website mijugada.co.

For the time being, six websites legally operate in the online gambling market of Colombia, which became the first country in Latin America to regulate this type of betting. The president of the country’s regulatory authority further revealed that two more applications for operating licenses had been submitted and were being reviewed and shared that the country’s watchdog expected that twenty authorized online gambling platforms would exist in 2018.

As mentioned above, Mijugada has become the sixth online betting website to be given the nod in Colombia, following five other websites, including Wplay.co, Betplay.com.co, Zamba.co, Colbet.co and Codere.com.co. The online gambling operating licence is to provide the operator with the chance to provide its Internet-based to local players for a three-year period, while the contract’s value is estimated to about COP3.7 billion.

As mentioned above, Grupo Empresarial Geonline SAS is to operate in the local regulated online market under the Mijugada brand, with the Mijugada.co website still being under construction. The website’s official launch is set to happen within 30 days.

Colombian Online Betting Licences

The first iGaming license in Colombia was issued by Coljuegos at the end of June, with the locally-owned gaming operator Aquila Global Group becoming the first company which was given the green light to roll out an online betting website with the Wplay.co online sports betting brand. Over the next few months, a number of other companies were granted with an operating license by the regulator, which has earlier prepared a blacklist of unlicensed iGaming websites that offer their services to Colombian players.

The president of the Colombian gambling regulatory authority shared that the newly-opened online gambling sector has brought an overall contribution estimated to approximately COP3.76 billion to the country through the end of November.

This summer Mr. Pérez revealed his hopes to see seven online licenses issued by the end of the year. As mentioned above, the Colombian gambling regulator’s president now revealed that two more applications had been filed and currently being reviewed, but he did not reveal whether the companies could be expected to be given an approval over the next ten days.

Furthermore, Mr. Pérez reiterated the regulatory body’s commitment to work in collaboration with the Ministry of Information and Communication Technologies (MinTIC) and the National Police to suspend the domains of international online gambling companies that offer their services to local customers without an operating license. The country’s gambling watchdog also demonstrated its willingness to become more engaged with keeping up with the market realities in order to regulate the local gambling industry in the best possible way.

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