International gaming firm Betfair has been granted a gaming license by Coljuegos, which will let it operate in Colombia for a five year period.
The license will allow Betfair to offer slots, blackjack, roulette, and sportsbetting. The company is expecting to see taxes worth COP23 billion paid to the economy each year. Betfair is the 17th authorized operator in Colombia, leading to a pretty decent marketplace in the country.
There are already 3.8 million active player accounts in Colombia, and the protected marketplace helps keep players from playing with illegal sites.
Pumping the regulated sites Coljuegos representative Valencia Galiano said, "The portals authorised by Coljuegos guarantee the delivery of the prizes, the protection of data and the proper functioning of the platforms.
"We must remind all Colombians that operating unauthorised platforms leads to committing a crime for which penalties ranging from six to eight years in prison and fines of approximately COP$272m for each establishment can be incurred; point of sale, outlet or vendor."
As of press time no timeframe for the launch of Betfair in Colombia was available.
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