Positive Scenario for iGaming in the Latam market

After this year's experience and the sudden convulsive moment in which our event was immersed with "accusations and accusations from both sides" between representatives of land-based, online and sports betting, by the end of 2023 we close with a more consolidated scenario and sure progress towards legalisation, even though there are still high risks of excessive tax burden and serious restrictions on market access in the regulations approved so far. 

The outlook for iGaming is more positive than ever, after the Sports, Economy and Finance Committees of the Chamber of Deputies finally passed the project to regulate online gambling platforms. The project must now be voted on in the plenary of the Chamber the week of 11 December. Developments as we can see are rapid, but we are still awaiting an ad-hoc regulatory scenario.

Moreover, in response to the Supreme Court's past ruling that ordered the blocking of more than 20 online gambling sites as it wrongly qualified the activity as illegal, the major online gambling platforms Betano, Betsson, Coolbet, Latamwin and Betwarrior have intensified their legal efforts and the result was achieved on 26 October 2023, when the Public Prosecutor's Office dismissed the criminal actions against the betting platform operators (by "not pursuing the case") and therefore the complaints filed by the land-based casinos and Polla Chilena de Beneficencia against the online betting platforms were closed by the Public Prosecutor's Office as there was insufficient evidence to charge them with a criminal offence.

CGS has been working in Latin America and the Caribbean since 2003. We have been part of regulatory processes in other territories and have promoted dialogue, meetings and consensus, without neglecting the academic, responsible and professional side of the industry, because only by imparting knowledge, trends and success stories, we can accelerate the evolution and consolidation of markets and this only benefits all parties involved.

Consequently, this totally favourable scenario to boost the iGaming industry in #Chile, sets us a high goal and we will deliver to the market the best event seen in a long time, as always selected to the highest ranking members of our sector: C-levels, decision makers and this 2024 focusing on new global trends, artificial intelligence, electronic payment methods, bankchain, marketing and security, trainings with professionals coming directly from Las Vegas, eSports and a strong focus on the online vertical.

We look forward to seeing you in #santiagodechile next #may.
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