Chile Unveils Online Betting Legislation

Chile has at last unveiled its initial online betting legislation, clearing the path for regulated internet gambling within the nation.

The Ministry of Finance initially revealed plans to make online gambling legal back in February 2021, with a pledge to present a bill in the first three months of the year. However, the legislation was postponed and only recently made public.

The new legislation mandates that all gambling entities in Chile secure a general permit valid for a five-year period. Nevertheless, those seeking to provide online gambling must also obtain a specialized internet gambling license, which is not subject to renewal.

The bill underscores the government’s aspiration for impartial licensing standards, rejecting a monopoly or bidding process in favor of a more adaptable approach that can adjust to the swiftly changing landscape of the online gambling sector.

The bill suggests a 20% tax rate on online gambling earnings, with $50 million of the collected taxes allocated to social programs.

License holders will be able to offer online versions of all types of games currently permitted under gambling rules, with the exception of lotteries.

This legislation also designates the Chilean gaming authority, the Superintendencia de Casinos de Juego, as the governing body for the online gambling sector and clarifies that the organization will be renamed to encompass gambling and games of chance. Operators must adhere to all stipulations outlined by the regulatory body to secure an online gambling permit.

Regarding social accountability, the bill stipulates that underage individuals and those who have self-excluded are not permitted to engage in wagering.

Online betting on events targeted at minors is prohibited, and imagery or graphics that could entice minors to participate in betting are not permitted in gambling advertising. Betting using credit is also forbidden.

Operators are also required to contribute at least 1% of their annual gross earnings to programs that support responsible gambling initiatives.

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