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Colombia’s online casino industry has been thriving recently, turning the country that was once known for its beautiful beaches and booming nightlife into a real hotspot for gambling in Latin America. As a result, an increasing number of Colombians are becoming interested in online casinos and started playing the odds with different casino games.
In terms of gambling legislation, Colombia is easily comparable to European countries, which continuously change their regulations to meet the needs of gambling operators and players alike. What’s more, El Consejo National de Juegos de Suerte y Azar, Colombia’s national gambling authority, is on a continuous work to authorize new types of games that players in the country can enjoy, making the market an even more favorable environment for players. So, besides the popular blackjack game, gamblers can now enjoy a range of other games such as slots, or tragamonedas, as they are called in Colombia, as well as poker, baccarat, and so on.
If you are from Colombia and have been considering giving casino games a try, you probably have lots of questions about the market.
Is it legal? Are my money safe? Is the market properly regulated?
This is why we are here today to help you understand more about the Colombian gambling market and how you can take full advantage of the options available. So, without further ado, below is a list of some of the most burning questions players have about the online casino industry in Colombia.
Is gambling in Colombia legal?
There has been much debate about the legality of online casinos in Colombia, which has led many players to wonder whether they would face any consequences for playing their favorite games. You’ll be relieved to know that both online and land-based casinos are legal in Colombia.
If land-based casinos are your go-to choice, Bogotá and Medellín are filled with options to choose from. But if you are into online casinos, because they are more accessible, and you can even play them to make time pass while traveling, the pool of choices is even larger.
Colombia is the first South American country to regulate the online gambling industry, much to the delight of players. The Colombian eGaming Act, established by the Consejo Nacional de Juegos de Suerte y Azar, was adopted in 2016 with the goal of regulating casino operations in the region.
Prior to the eGaming Act, there was a lot of ambiguity surrounding the activity of online casinos in Colombia. However, after these regulations, online casinos started booming. The sector grew to be very active, drawing players from all over the country and ending the first year of operation with a $60 million turnover. By 2019, the market reached $1.4 billion.
How is the online gambling market regulated?
Colombian online casino operation is governed by the national gaming authority known as Coljuegos, which oversees all forms of gambling, including blackjack, tragamonedas, poker, roulette, and sports betting.
This regulatory body is in charge of enacting rules and agreements, as well as approving new games for release. This enables gambling websites to include new games on their platform, giving players more choices. Tragamonedas are common in online casinos, but that doesn’t mean people will step back in the face of a new challenge when new games are added.
The Coljuegos is overseeing the wellbeing of both players and online casino operators, working tirelessly to find solutions that favor both. As a result, the Colombian online gambling market serves as a true standard for other Latin American countries seeking to regulate the online casino market.
How popular are online casinos in Colombia?
With a market that is expanding at such a rapid pace, it was inevitable for rivalry to increase as operators wrestle to acquire new players. However, this can only be a good thing, as fierce competition increases market standards. This will result in a positive experience for players, as they will now have access to a better library of games, increased security, and better prizes.
If playing online casino games is one of your go-to ways of having fun, you will be happy to know you are not the only one. More than 55% of people in Colombia enjoy playing gambling games, both in online and land-based casinos.
Because of the huge popularity of casinos, the Colombian government saw it as an opportunity to help the country grow. The casino industry in Colombia is assisting the public health system by redirecting funds raised from exploitation rights to the health department. This ensures that the games you play will improve the welfare of Colombia’s healthcare system.
What kind of games can I play at a Colombian online casino?
You may be wondering what kinds of games are available at Colombian online casinos. You’ll be excited to know that there are several choices available to you.
First things first, all Colombians have access to a wide range of national and regional games, such as instant lotto, regional lotteries, bingo games, and national raffles. If these aren’t your thing and you just want to play casino games, there are lots of options available online.
Reputable online casinos go to great lengths to ensure that their players have access to all of their favorite games, such as blackjack, slots, baccarat, poker, and others. And, given that the national regulator is constantly working to approve new games for Colombians, you should expect online casinos to have even more choices for players.
Many people think they need a computer or laptop to play online casino games, but things have changed a bit in the past few years. Brower-based games were the only option for a long time, but now mobile gaming has become more popular than ever. This is why the majority of casino operators in the country now have both a website and an app that you can play on.
