The South American nation of Colombia has formally joined the internet gaming sector, granting its initial permit to WPlay.co. This organization, a branch of Medellin-based Aquila Global Group, is making significant strides. They intend to invest approximately 15 billion pesos (that’s their local currency!) over the next three years and are targeting an impressive one million registered players. They even suggest this could result in the creation of around 3,000 new positions!
Juan B. Perez Hidalgo, the leader of Coljuegos (the Colombian gaming regulatory agency), indicated that this is just the beginning. He anticipates numerous other operators obtaining licenses, establishing a thriving industry that stays current with all the latest technological advancements.
Coljuegos representatives are forecasting that this newly regulated sector could generate a substantial $8 billion in income during its initial year alone, solely from businesses competing for a share. They are optimistic that this figure will continue to rise as the market expands.
However, it’s not solely about entertainment. Coljuegos is also taking strong measures against unlawful gaming platforms. They intend to restrict access to as many as 325 websites in the near future.
Pérez Hidalgo emphasized that this entire endeavor extends beyond mere financial gain. They aim to direct funds towards public health programs, provide individuals with more engaging and cutting-edge gaming choices, and guarantee Colombia remains aligned with worldwide technological trends. He acknowledged that combating illicit gambling, particularly online, is a difficult task, but they are prepared to confront the obstacle.
This concerns establishing distinct accountability in the realm of internet-based wagering within Colombia. With the involvement of both the national law enforcement agency and the Ministry of Defense, the gravity of the matter is evident! In essence, their aim is to unequivocally delineate the responsibilities of each party involved.
Individuals seeking to operate an online betting platform cannot simply proceed unilaterally. They must first obtain authorization from Coljuegos, the primary regulatory body for gambling activities in Colombia. Consider them the guardians ensuring adherence to regulations. To secure their approval, these websites must undergo a rigorous vetting process, demonstrating financial stability, technical expertise, and compliance with legal frameworks. Upon successful fulfillment of these criteria, Coljuegos grants them a specialized agreement, akin to an operational permit.