Chile Advances Plans for Regulated Online Gambling and Betting Market

Chile is making significant strides towards establishing a regulated and taxed online gambling and sports betting market, as the government takes steps to strengthen Bill 035/2022. This bill, authorized in March, has set the wheels in motion to create a framework for a regulated online gambling marketplace in Chile, with the goal of launching it by the end of 2023.

Legislative Progress

This week, the Economic Committee of the Chamber of Deputies in Chile announced its intention to publish 15 new articles related to Bill 035/2022. These articles are designed to provide a comprehensive legal framework that allows the government and relevant agencies to address criminal activities associated with online gambling.

Undersecretary Heidi Berner elaborated on the importance of these articles, highlighting the inclusion of criminal penalties for those who breach regulations pertaining to online betting platforms. This move is aimed at ensuring transparency and safety within virtual betting activities.

Key Highlights of the New Articles

One of the most significant articles is Article 40, which establishes the legal context for Chilean authorities to take action against unlicensed gambling activities. The new articles also outline charges and penalties for criminal activities related to online gambling, including fraud, corruption, and cybercrimes.

Article 19 outlines the penalties for altering or changing a betting event to manipulate market outcomes. Those found guilty of such actions could face a medium-degree minor imprisonment and fines ranging from 15 to 20 monthly tax units.

Regulatory Landscape and Dispute Resolution

Chile’s progress towards a regulated online gambling marketplace is accompanied by efforts to address long-standing disputes within the industry. A special committee was established by Congress to resolve conflicts between the National Association of Professional Football (ANFP) and the Ministry of Justice over betting partnerships.

The ANFP contests the Ministry’s ban on betting partnerships, arguing that Chilean law lacks a legal precedent to restrict sponsorships. They advocate for a focus on updating laws instead of outright bans.

Toward a New Gambling Framework

Chile’s government is determined to enact a new gambling framework by 2023. This transition will mark a departure from the existing gambling monopoly structure, which currently involves three entities: Loteria Concepción, Polla Chilena (football pools), and Teletrak Chile (pari-mutuel horse racing).

As Chile progresses with its plans for a regulated online gambling and betting market, the stage is set for an exciting evolution in the country’s gaming landscape. Stay tuned for more updates as the regulatory framework takes shape and the market opens up to new possibilities.