Colombia's Online Gaming Tax Revenue Grows 106.3%

Colombia's tax revenue from online betting grew during the most recent fiscal year, popping up 106.3% to COP 65.97 billion.

For the year ending October 31st, 2019 show that gambling taxes as a whole grew COP 617.2 billion, with sportsbetting making up 61% of that total. The SuperAstro Lottery generating 14%. Both numbers were up from the year prior.

Online betting made up 10% of the market, but the growth of the revenue generated easily outpaced the other sectors. The hike in revenues also comes as the country's gaming regulator removed more than 4,330 illegal games from the market.

Commenting on the tax revenues Coljuegos president Juan B. Perez Hidalgo said, "Nothing is more satisfying than working for an entity in which everything we do helps to finance the health of more than 1.6 million Colombians a year."