The Chilean Senate, through the Finance Committee of the Upper Chamber, is expected to resume the debate on the bill that seeks to regulate the online gambling and betting sector. The information comes from Senator José Miguel Insulza.
The Senate Economic Committee has already approved, in general terms, the initiative in April 2024. Furthermore, the measure is before the Finance Committee, but is not on the agenda.
Online games and their path to approval in Chile
In this context, Senator Insulza, member of the Finance Committee, said that the project “is in the committee to be reviewed, hopefully in March”.
Insulza stated: “The project is on the right track because people play the same game and everyone does it on weekends,” he said.
In agreement with Insulza, deputy Flor Waisse, from the Independent Democratic Union (UDI), said that “it is very important that this debate be resumed as quickly as possible because today many platforms continue to operate, generating huge uncontrolled revenues, addictions and also losses to the family economy”, he concluded.
According to the Superintendency of Gaming Casinos (SCJ), there are more than 900 sites that offer online betting in Chile. More than US$150 million per year is the market value in Chile.
Taxes and project format
Thus, the bill provides that online operators in Chile should allocate 2% of their gross gaming revenue (GGR) to sport. As with physical locations, online gambling and betting operators must pay a 20% tax.
This is in line with the responsible gaming contribution rate, which is equivalent to 1% of an operator’s annual gross income. This value is similar to what occurs in other countries and markets around the world.
