👀Chile🇨🇱: Senate reviews bill to regulate online gambling and betting

👀Chile🇨🇱: Senate reviews bill to regulate online gambling and betting

The Chamber of Deputies approved the initiative in December 2023, and now the Senate’s Finance Committee has begun its review.

▶️Currently, only the Polla Chilena de Beneficencia (state lottery), the Lotería de Concepción, land-based casinos, and horse racing are officially regulated in Chile.

▶️The aim is for online gambling to compete fairly with these activities and contribute additional revenue to the state. The proposal currently includes a 28% tax burden (with 19% VAT), though lawmakers admit the rate could change during debates. VAT in Chile applies to all digital services, whether from domestic or foreign providers.

▶️Industry representatives warn that excessive taxation could drive companies away, pushing players toward unregulated platforms, thus undermining the regulator’s ability to protect minors and problem gamblers.

▶️The Chilean Online Betting Association suggests a tax model without VAT and capped at 22%, estimating it would increase tax collection by 50% and expand the number of protected users by 75%.

▶️If the bill is approved in the Senate’s plenary session, it will proceed to the amendment and legislative adjustment phase.

#news #Chile #gambling

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