The project that regulates online betting advances in Chile

Chile is one of the Latin American markets that is in the process of establishing regulations for the online gaming and sports betting industry. In this sense, on May 30, a new progress was made in this direction, since the Economic Commission of the Chamber of Deputies approved the idea of legislating a Bill that regulates the development of online betting platforms.

This result marks a milestone in the legislative process, since it implies that there is a formal agreement, by the majority of the members of the Commission, to regulate online betting platforms.

The lawyer Carlos Baeza, representative of Latamwin, Betano, Betsson and Coolbet points out that this is "an excellent sign, because, if it advances, it will place the country in 73% of the OECD countries that have regulated the operation of the platforms of online betting in a comprehensive way, addressing the institutional, tax and advertising dimensions of the industry. The regulation will allow users to distinguish the platforms that meet the requirements set forth in the regulations, and this goes in the direction of what we have always defended, which is a completely legal activity”.

He also highlights that "although we see room for improvement, we have maintained that this is a very good project, which will lay the foundations for clear, modern, and transparent regulations, with the aim to generate competition, safeguard public faith, protect the health and safety of the players”.

Baeza, who is a member of the prestigious International Masters of Gaming Law (IMGL) network, which brings together more than 300 world experts on the challenges of the industry, also appreciated the technical table promoted by the Ministry of Finance and developed jointly with the Economic Commission of the Chamber of Deputies, because in his opinion, it has allowed the necessary progress and agreements for the processing of this project.