Betfair Receives Five-year iGaming License in Colombia

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Coljuegos, the gambling regulator in Colombia, has awarded a five-year igaming license to sports betting exchange Betfair.

The license will allow Betfair to operate betting on real sporting and non-sporting events, online slots, roulette, and blackjack. The operator is expected to contribute COP$23bn ($6.5m) to the Colombian economy.

Coljuegos said that with the approval of the seventeenth authorized gambling website in the jurisdiction, the gaming sector in Colombia has proven itself to be an attractive opportunity for national and international businesses.

Coljuegos president César Augusto Valencia Galiano emphasized the importance of gambling with regulated operators in order to ensure security, the proper handling of personal and financial information, and the availability of responsible gambling resources.

“The portals authorised by Coljuegos guarantee the delivery of the prizes, the protection of data and the proper functioning of the platforms,” he said.

“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.”

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Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.

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