Chilean SCJ and SERNAC meet for sports betting

During the current week, progress was made on the bill aimed at regulating sports betting in Chile as it received approval from the Economy Commission in the Chamber of Deputies. In light of this development, government officials convened to deliberate on the initiative and the functioning of casinos nationwide.

The Superintendent of Gaming Casinos, Vivien Villagrán, held a meeting with the National Director of the National Consumer Service (SERNAC), Andrés Herrera, to discuss various matters, including the progress of the bill in Congress and related issues.

In a joint statement, the authorities pledged to collaborate in safeguarding the rights of consumers who engage with gambling casinos in the country. They also agreed to assess future inspections of the casinos to ensure the full protection of consumer rights, including the provision of information and adherence to contractual obligations.

Both authorities committed to evaluating the effectiveness of future inspections conducted by SERNAC to ensure the comprehensive respect of consumer rights within the country’s gambling casinos. This encompasses aspects such as the provision of user information and adherence to contractual conditions, among other obligations.

The discussion also touched upon the bill regulating Online Betting Platforms, which has been pending in Congress. The bill, introduced in March 2022, had faced delays until now.

It is worth noting that the Economic Commission of the Chamber of Deputies was initially scheduled to begin processing the bill in August of the previous year. However, at that time, the Executive requested a delay as the Ministry of Finance was formulating a tax reform that would incorporate a tax on online betting. Although a 30-day timeframe was set, no updates were subsequently provided.

The ongoing bill, currently under discussion, outlines the issuance of general licenses valid for five years with the possibility of renewal, or temporary licenses for six months without the option of renewal. Through these licenses, companies would gain access to the operation of various betting objects or games of chance, excluding lotteries and any that contain or transmit content that may jeopardize public order, national security, individual honor, or target minors.

According to the SCJ, the iGaming industry already generates approximately USD 170 million per year. Therefore, the treasury could potentially collect around USD 11.5 million in the first year, with projections reaching close to USD 60 million by the fifth year. This amounts to 0.02 points of the country’s GDP.