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 goal 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 identified as legally operating in Colombia include BWIN, William Hill, and, more recently, Betfair. Betfair received a 5-year license in Feb 2021 and became the 17th brand to receive a certificate from the Coljuegos licensing authority.
Which Markets Does the Coljuegos Licensing Authority Regulate?
Where 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 category covers online casinos and sportsbooks that let Colombians register, claim a bonus, and play games from suppliers holding a game supplier license. Betfair, Fullreto, and Wplay are cited 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 offering white label casino solutions to operators are included as well.
Coljuegos Licensing Rules & Regulations Explained
Colombia’s gambling authority says its licensing framework is intended to protect citizens and generate tax revenue that supports the national fiscal budget. Licensees must comply with a set of rules:
- Fees & Review: The annual license fee is $200,000. Coljuegos reviews each operator or supplier and its finances yearly. Before granting a license, the authority conducts fit and proper person due diligence and reviews the applicant company.
- Security: Casinos are required to 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 held 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 remain dissatisfied may take their complaint to Coljuegos. A high number of complaints may prompt 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 needed.
- 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 a test 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, an arrangement the source characterizes as less safe than having Coljuegos oversee the market within Colombia.
Since licensing began, the source notes the arrival of major brands including BetFair, Microgaming, Evolution, and others. It describes the result as a selection of casinos and sportsbooks available to Colombians that is safe, financially fair, and trustworthy.
