Coljuegos authorizes Betano to begin operating in Colombia
By the end of 2024, it is estimated that online betting portals will pay around $419.5m to Coljuegos for utilization rights.
Key Points
- The Betano brand is owned by Kaizen Gaming Colombia
- With the addition of Betano, there are now 16 web platforms that have approval to market games of chance online
Kaizen Gaming Colombia, which owns the Betano brand, was given authorization by Coljuegos to begin operating online betting in the country. After the latest addition, there are now 16 web platforms with approval to market games of chance online in Colombia.
“We continue to strengthen the online gaming industry. We hope that, with the entry of this new operator, we can continue to increase transfers for the health of Colombians. At this time, the platform is already operating for the betting public,” Coljuegos President Marco Emilio Hincapié said.
Coljuegos is also said to be in the process of authorizing Bingo Casino, an additional operator expected to begin offering bets by the end of 2024. By the end of this year, it’s estimated that online betting portals will pay around $419.5m to Coljuegos for utilization rights.
The figure would represent a 31% increase year-over-year, as all resources are transferred to the health system in Colombia.
Good to know: Coljuegos destroyed more than 2,000 elements of luck and chance games that were valued at $445m on September 4 in an effort to crack down on illegal gaming practices
“We are seeing that online betting is a sector of the economy that has driven the growth of the country’s Gross Domestic Product. That is why we are working to make the market even more attractive and to provide more options to bettors,” Hincapié said.
Based on financial projections, Betano is expected to pay Coljuegos around $21.5bn over the next five years for utilization rights and administration costs.
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