♠️♦️♣️ Chile🇨🇱: new government pushes forward bill to legalize and regulate online betting platforms

♠️♦️♣️ Chile🇨🇱: new government pushes forward bill to legalize and regulate online betting platforms

The country has recently changed presidents (from left to right), and this immediately triggered developments, including within the gambling industry. The renewed discussion of the bill coincided with:

1️⃣ the controversy surrounding website blocking

2️⃣ ongoing debates over restrictions on gambling advertising 💩

➡️ For those who may have forgotten, the gambling regulation bill has remained in Congress since 2022. However, the government led by José Antonio Kast has now decided to accelerate its discussion by granting the proposal urgent status.

➡️ The same status was granted to another bill aimed at prohibiting advertising contracts between professional football players and online betting platforms.

➡️ Key provisions of the bill:

➡️ Online betting platforms will be required to obtain an official license and register as closed joint-stock companies with an exclusive business purpose.

➡️ The current Casino Supervisory Authority will be restructured and granted powers to issue licenses, supervise operations, and impose sanctions.

➡️ Under the proposed legislation, operators must provide authorities with real-time remote access to their systems in order to monitor bets, payments, and financial transactions.

➡️ From a tax perspective, operators will be required to pay a special tax equivalent to 20% of gross revenue, in addition to applicable VAT. A separate “responsible gaming contribution” equal to 1% of annual gross revenue will also be introduced.

➡️ The law will allow authorities to block websites, IP addresses, and financial transactions linked to unauthorized operators.

➡️ In addition, the classification of crimes related to illegal online gambling is being updated: legal entities will now face criminal liability, while penalties may include fines of up to 15,724 USD and prison sentences for operating without a license.

➡️ Representatives of the Chilean Association of Online Betting Platforms (aPAL) welcomed the government’s decision to accelerate the legislative process and expressed their willingness to provide technical support throughout the discussions.

➡️ Although the proposed advertising restrictions have not been particularly well received within the sector, industry representatives believe that greater regulatory clarity and legal certainty would ultimately benefit the market.

#news #Chile #gambling

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