Since granting its first operating licence in 2017, Colombia’s online sports betting sector has quickly established itself at the forefront of the emerging Latin American market. With other countries in the region looking to follow its lead, Colombia now wants to take the next step with an expanded regulatory framework that will ensure future growth.
The performance of Colombia’s online gaming market has been impressive, spearheaded by the likes of Wplay.co, owned by Antioquia-based Aquila Global Group, which was the first company to be granted a licence in the market. In 2018, COP$1.8tn (£439m) was bet online, and operators contributed COP$38bn pesos (£9.2m) to Colombian healthcare.
To increase that figure going forward, regulator Coljuegos is looking to diversify the product offering to include virtual sports and live casino.