The gambling sector in Colombia rose tremendously in the past five years, slowly turning the country into one of the biggest gambling markets in entire Latin America. Given the fact that the market continues to improve and grow, we can only assume more, and more Colombians are becoming interested in playing casino games.
The main reason for this rapid development is the way Colombia’s gambling authority regulates the market and makes sure both players and casino providers can benefit from the experience. Coljuegos, as the regulatory body is called, is responsible for adopting new gambling laws and making sure casinos implement them accordingly, not to mention it constantly works to provide new opportunities for players. This is the recipe for a successful market that is expected to rival European markets in the following years.
Given the fact that the market is relatively new, Colombian players still have lots of questions about how things work and what they can do to fully take advantage of everything it has to offer. Because, just like you need a writing coach to help you improve your skill as a writer, you sometimes need a gambling coach to help you get better at casino games.
Below are some of the most frequently asked questions about the online gambling market in Colombia, so continue reading if you want to learn more about the type of opportunities you have.
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Is it legal to gamble online in Colombia?
The Colombian gambling market only started to develop a few years ago, so it is no wonder many players question whether it is legal to conduct these activities in the country. Fortunately, both online and land-based casinos are legal in Colombia, meaning you won’t get into any form of legal trouble if you want o play slots, poker, or any other game at a regulated casino.
When it comes to land-based casinos, Bogotá is slowly becoming the Las Vegas of South America, but there are numerous casinos that have started to appear throughout the entire country. This means you will surely find lots of options to choose from nearby.
For online casinos, the pool is even bigger. In fact, Colombia was the first Latin American country to regulate online gambling back in 2016 with the Colombian eGaming Act. This act helps the Coljuegos have a legal frame to follow when providing licenses and reviewing online casinos.
Before the eGaming act, casinos were sort of in a gray area, but after just one year, the market got on the right track, and various reputable online casinos started appearing. By 2017, the market generated no less than $60 million, and by 2019 it rose to $1.4. million, becoming a very lucrative business opportunity and prompting even more players to take an interest in these games.
How is the gambling industry regulated in the country?
When it comes to gambling regulations, Colombia enjoys quite a well-put-together legal framework. The Coljuegos does a very good job at overwatching all types of gambling activities in the country, managing to turn the industry into one of the most prolific in the country, after petroleum.
The Coljuegos is the one that issues gambling laws, reviews casinos, and approves new games that can be introduced in casinos. This is why you will be to find and enjoy lots of amazing new games on a regular basis. They have managed to make both casino operators and gamers very happy in the past five years, taking into account the needs and wants of those that are actually involved in the business and setting the bar high for other Latin American countries to follow.
With online gambling being such a fast-growing sector in the country, it’s inevitable that competition will increase as operators battle for players. As a result of this, much to the benefit of gamblers, market standards are growing, and casinos need to step up their game if they want to attract new people. This means players will have access to a wider range of games, more secure methods of play, and better perks or bonuses.
How is online gambling perceived in the country?
We are going on and on about how much the market has developed in the past five years, which suggests Colombians are taking quite an interest in online casinos. And, with so many interesting games to choose from, this comes as no surprise.
In recent statistics, over 55% of Colombians surveyed state they enjoy at least one form of gambling. Be it slots, poker, blackjack, or another form of chance-based games, Colombians do like to play the odds from time to time, both in online and land-based casinos.
What may be surprising to learn is that even those who do not gamble have grown to appreciate the casino industry in Colombia. That’s because the regulatory body found a way for the country to benefit from casino activities even more than by just charging fees for operators. Funds obtained from exploitation rights are redirected by the Coljuegos towards Colombia’s Ministry of Health and Social Protection, helping improve hospitals and the national healthcare system altogether.
Which gambling games are available at Colombian casinos?
If you are wondering about the type of games you can play in online casinos, know that you will have quite an impressive library to choose from. Besides the national and regional chance-based games and lotteries such as lotto, bingo, and raffles, Colombians do have a huge variety of casino games they can enjoy.
Colombian online casinos go to considerable lengths to ensure that players have access to all of their favorite games, such as blackjack, slots, baccarat, and poker. And, given that the Colombian authority is constantly striving to approve new games for Colombians, you can expect online casinos to offer even more possibilities for players.
We recommend trying as many games as you can, especially if you are new to gambling, to get a chance to compare experiences, make an informed choice about the games that seem to fit your playing style best, and figure out how you can combine these games to take advantage of bonuses and maximize your winnings.