Coljuegos requires operators seeking to advertise and serve people in Colombia to obtain authorization. It also encourages players in the country to choose regulated platforms, with the stated aim of protecting their finances and personal information online. More than 3.8 million new players have registered with casinos licensed under Colombia’s framework.
Brands reported to operate legally in Colombia include BWIN, William Hill and, more recently, Betfair. Betfair was granted a 5-year licence in Feb 2021 and became the 17th brand certified by the Coljuegos licensing authority.
Which Markets Does the Coljuegos Licensing Authority Regulate?
Some regulators issue separate licenses for different online gambling sectors and related businesses; Coljuegos covers video slots, table games, live dealer games, online poker, sports betting, and fantasy sports under one license. The authority does, however, distinguish between two licensing areas.
- Operators: This group includes online casinos and sportsbooks where Colombians can register, take a bonus and play games supplied by companies with a game supplier licence. Betfair, Fullreto and Wplay are named as 3 successful operators in the country.
- Game Suppliers: Software companies such as Evolution, Microgaming, and Pragmatic Play can provide their game catalogues to casinos licensed under the operator framework. Aggregators that offer operators white-label casino solutions are included too.
Coljuegos Licensing Rules & Regulations Explained
Colombia’s gambling authority says its licensing framework is designed to protect citizens and generate tax revenue that supports the national fiscal budget. Licensees must follow a set of rules:
- Fees & Review: The annual license fee is $200,000. Coljuegos reviews each operator or supplier and its finances every year. Before granting a license, the authority conducts fit and proper person due diligence and reviews the applicant company.
- Security: Casinos must maintain adequate IT systems, use HTTPS encryption, and provide a privacy policy. The stated rule says personal information must not be shared with 3rd party companies.
- Financial: Player balances must be kept in a separate bank account. This arrangement guarantees reimbursement if a casino faces financial difficulty. Casinos must also report earnings from Colombian players for anti-money laundering and tax purposes.
- Complaints: Operators are responsible for responding to complaints. Players who are still dissatisfied may take their complaint to Coljuegos. A high number of complaints may trigger an early review of an operator’s practices and could lead to a licensing suspension or permanent revocation.
- Recording: Each casino game session must be recorded and retained in case a review is required.
- RNGs/Software: Casino software must be certified by an authority such as Gaming Labs International, a company that tests algorithms and software. Coljuegos may request another test at any time, and testing is also required yearly.
Conclusion
Colombia’s domestic licensing authority gives players a local body to contact if they believe an online casino or sportsbook has treated them unfairly. Before this framework, players had to rely on overseas licensing services to resolve disputes, which the review characterizes as less safe than having Coljuegos oversee the market within Colombia.
Since licensing began, major brands including BetFair, Microgaming, Evolution, and others have arrived, according to the review. It describes the result as a selection of casinos and sportsbooks for Colombians that is safe, financially fair, and trustworthy.
