Chile Approves Bill to Legalize and Regulate Online Gaming
The government of Chile has released the country’s first online gambling bill that would lay the foundation and regulate online gaming in the jurisdiction.
The first decision to legalize iGaming in Chile was announced in February 2021, with plans to introduce a bill in Q1 2021. However, the bill could not get to the publishing stage due to some factors.
With the latest published bill, the process to legalize online gaming in Chile has already started. According to the bill, all operators in Chile must hold a general license lasting for five years.
It also states that betting entities that wish to offer online gambling services in the state must have a special online non-renewable betting license.
The government asserted through the bill that the criteria and bidding process for licenses would be very objective. Gaming revenue will be taxed at 20%. $50m is slated to go to social initiatives from the total tax collected.
The legislation states that licensed operators may provide any game of chance under existing gaming regulations, except lotteries. It also establishes Superintendencia de Casinos de Juego as the regulator of the iGaming market and the organization in charge of licensing operators.
The bill prohibits operators from accepting minors or self-excluded individuals. Also, online bets on events or gambling advertisements targeted at minors are banned.
Apart from the tax, businesses that wish to operate in the Chilean iGaming market will donate 1% of their gross annual contributions to support programs that promote responsible gambling.
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