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Online Gaming in Colombia

Authored by - Igaming Colombia (Last updated Apr 2024)



Colombia Online Gaming Overview

Regulated, open licensing regime.

Colombia was the first regulated i-gaming market within Latin America (LATAM), adopting an open-licence, European styled regulatory regime and being the only country in the region to do so. One licence covers all authorised verticals. Licence costs and capital requirements for operators are less expensive than in other regulated LATAM markets such as Argentina, yet regulation is tailored towards more established operators, with both fixed and variable regulatory fees being moderate. Despite such costs, the market is still considered to be a lucrative one.

Market size
In July 2022, Coljuegos, the Colombian regulator reported the following figures:

  • Approx Eur 77,402,042 collected in remote gaming taxes in 2023.37% of all gaming revenue is online gaming revenue
  • There are 16 authorised gaming operators on the market. 67% of revenues come from sports betting

Revenues as per vertical, September 2023:

  • 61.8 – Sportsbook
  • 22.5 slots
    8.4% live casino
  • 3.2 Roulette
  • 3.9- Others

The number of active accounts reported at September 2023 was 9.165.548, a 7.5% growth from the previous year.

Pertinent demographics

  • Estimated population: 51.96 million (Source: data reportal)
  • Average age: 31 (Source – Statista)
  • Population aged between 18 and 65: 55% (Source: Yearbook of the Game in Colombia, Codere)
  • Estimated internet penetration (January 2023): 75.7%
  • Social media users: 35 million
  • Total mobile connections: 73.68 million
  • Web traffic originating from Android devices: 86.9%
  • Web traffic originating from IOS: 12.63%
  • Active bank accounts: 55.9%%
  • Active credit cards: 13.2%
  • Mobile money accounts: 21.8%
  • Online transactions (online bill payments or using internet generally for payments): 19.1%

Competitive landscape
There are currently sixteen licensed operators on the Colombian market. These include some major UK and European multi-nationals.

Over the past two years, we have seen various new licences being issued as well as some acquisitions by larger international market players.


  • Localised distribution and retail are highly required for this market
  • Localised advertising is recommended due to consumer preference for traditional marketing types such as radio, television and football sponsorships

Consumers prefer a cash based, retail betting system whereby payments are made through land-based shops and used to top up online accounts. Wide reaching networks of this type already exist in Colombia.

The best point of entry to the market is via a sportsbook product offering.

Top Key Attractions and Challenges

  • Well regulated, open licensing process with a European model
  • Colombia’s population size and cultural attitude towards betting and sports in general make it an attractive location to launch an i-gaming offering
  • Increase in local bank accounts and electronic payment participation
  • Liberal approach to advertising, including sponsorship of sports teams and sporting events
  • Liberal approach towards bonuses, promotions and payment acquisition

Localised marketing and distribution networks are a strong requirement in order to acquire players. Affiliate and other types of digital marketing are still in their infancy in the country and consumers respond more to traditional marketing and distribution methods, which may at times be expensive.

Licensing & Regulation

Well-regulated / Unregulated (Open)

Colombia Online Gaming Licensing & Regulation

Licence Triggers
The on boarding of any Colombian resident would trigger a licence.

Array / Type of licence needed
The following verticals are permitted, under one single gambling licence, which is issued for one domain:

Poker Black-jack Bingo Roulette Baccarat Slot machines Virtual games Betting over sports related real events Betting over non-sports related real events Live casino...

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Regular / Punitive

Colombia Online Gaming Enforcement

Regulating bodies

Coljuegos Unidad de Información y Análisis Financiero or UIAF (Financial Intelligence Analysis Unit) Superintendence of Industry and Commerce (SIC) (Advertising and Consumer Affairs)

Supervision by Regulator
Regular supervision is carried out through integration with operator’s platforms and yearly compliance audits.

Operators are required to have a mirror system located in Colombia which provides data to Coljuegos, and...

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Colombia Online Gaming Marketing

Licensed operators may advertise the games offered, as long as the below criteria are met at minimum, also, operators may offer bonuses or promotional initiatives for the registration or participation of the player provided that such practices:

Are not generally contrary to regulations They do not alter the dynamics of the game or induce confusion in the player regarding the...

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Colombia Online Gaming Fees

Application fees
Administrative fee (licence fee) – 1% of fixed + variable taxes paid annually (15% of GGR).

Ongoing fees
Same as above.

Any required minimum guarantee
Circa EUR 175,000.

Capitalisation requirement
Circa EUR 350,000.

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Colombia Online Gaming Taxes

Licence taxes
Fixed and variable gaming taxes are charged by the regulator. The fixed tax, payable yearly, is set at 811 monthly minimum wages. This amounts to approximately EUR 160,000 per annum at the time of writing. This is payable regardless of revenues.

The variable tax, payable monthly, is set at 15% of gross gaming revenue (gross revenues less...

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Future Outlook


Colombia Online Gaming Future Outlook

The Colombian i-gaming market has gone from strength to strength over the past five years, showing unparalleled growth within the Latin America (LATAM) region. The recent entry of industry giants such as Betsson, Flutter, Entain and William Hill/888 is a clear vote of confidence in the regulatory regime adopted by Coljuegos. The regulator has maintained a pro-business approach, adopting new...

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Legal Expert

Igaming Colombia

Office locations Malta (Naxxar) / Colombia (Bogota)

Igaming Colombia is a boutique service provider, combining European experience with Colombian resources and a Colombian presence. We strive to assist multi-national i-gaming operators to enter this new market by navigating the regulatory landscape and acting as their primary point of contact from the start up stage throughout the entire business lifecycle. Having Malta and Colombia as a base, we can provide strategic business advisory and legal services as regards the expansion of operators’ product offerings into Latin America.

We have worked with software providers, payment providers, operators and affiliates in order to structure their business offering for Latin America, navigating every step of the way.

Igaming Colombia has also been involved in consultation processes for the drafting of new remote gambling laws in the region, providing feedback to governments and regulators based on cross-border experience and a presence in multiple markets.

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Contact Colombia - Igaming Colombia

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