Chile moves to regulate iGaming, Curaçao publishes license fees, and Swedes flock to unlicensed sites.
Chilean Chamber of Deputies passes bill to regulate online gambling
Latin America continues to dominate headlines as countries in the region move to regulate their iGaming sectors.
Chile has now taken a massive step towards establishing a regulated market. The country’s Chamber of Deputies passed a bill to establish regulations for online gambling. The bill now goes to the country’s senate.
The bill, which reportedly passed with a large majority, aims to establish a competitive public online gambling market which will include player protections. If the Senate approves the bill, new powers will be granted to the Superintendence of Casino Games, the Commission of Financial Markets, and the Internal Revenue Service.
The bill would set license fees at $74,189. Licensees will be responsible for a few different fees, making contributions to the National Sports Institute, the Chilean Olympic Committee, and the Chilean Paralympic Committee, for a total of 2% of the company’s GGR. There will also be a 20% tax on GGR, and a responsible gambling contribution of 1% of GGR.
The bill also addresses the country’s approach to illegal gambling. Media outlets won’t be allowed to carry advertisements for unlicensed sites, internet service providers will block access to illegal platforms, and banks will be able to block transactions with illegal operators.
Curaçao publishes license fees
The overhaul of Curaçao’s licensing system has made headlines all year.
The uncertainty caused by the regulatory upheaval has led many new operators to seek licensing in other jurisdictions, such as the island of Anjouan.
While further changes are always possible (and we’ll cover them here), at least one piece of the puzzle seems to have emerged. The country’s Minister of Finance has announced the license fees.
Under the current law, licensees must pay an annual fee of ANG 36,000 ($20,090) and a monthly fee of ANG 7000. Licensees can have up to 40 domains under the same license.
Under the incoming regime, B2C licensees will pay an application fee of ANG 9,000, one-time due diligence fees of between ANG 250 and ANG 500 per person, an annual fee of ANG 48,000, and a monthly fee of ANG 4,000.
There are arrangements in place for those transferring from the old system to the new one.
It’s always possible in such a wide-ranging overhaul that things could change. Stay tuned to our Industry News section for the latest updates.
Report shows Swedes flocking to unlicensed sites
There’s a fine line between a well-regulated market and an overly restricted one. Regulators often struggle to walk it.
Swedish horse race betting provider AB Trav Och Gallop recently concluded a report that revealed a tenfold increase in the number of bettors visiting unlicensed sites. The report spanned the period between the first quarter of 2019 and the third quarter of 2023.
Unlicensed sites are prohibited from advertising to Swedish players, though players are free to visit their platforms. Sweden is known for its tight restrictions in areas like bonusing, prompting the question of whether regulations need to be loosened for the legal market to be more competitive.
