COLOMBIA – In what could be one of the most significant regulatory shifts in the South American gambling landscape, Coljuegos, Colombia’s renowned gambling authority, is championing a transformative bill. This legislation seeks to vest the regulator with unparalleled powers to dictate and monitor standards for gambling advertising, encapsulating everything from promotions to sponsorships.
Under the new directive, Coljuegos aspires to become the central watchdog for all facets of gambling advertising. This includes the mandate to draft cutting-edge rules, meticulous oversight of ad content, and decisive enforcement actions to uphold the proposed standards.
A standout feature of this regulatory push emphasizes the clear identification of licensees in all promotional content. This means every advertisement or marketing piece must prominently display the company name and the distinct commercial image of the gaming entity.
But it doesn’t stop there. In an unprecedented move, Coljuegos is proposing a yearly cap on each operator’s advertising expenditure. This would necessitate operators to lay out a well-defined marketing investment strategy, which the regulator will closely monitor to ensure adherence.
For fresh entrants in the gambling arena, Coljuegos would set the advertising budget based on the prevailing market dynamics. A robust penalty structure is also on the cards, with potential fines reaching a whopping 100% of the exceeded campaign expenditure.
Additionally, the regulator plans to recalibrate the rules for sports sponsorships. Under the new guidelines, only sponsorships with professional teams recognized by government-sanctioned sports bodies would be permissible. Every such deal would need the regulator’s nod, and Coljuegos would have the autonomy to sever ties with non-compliant operators.
Modern online advertising standards are also in focus. Mandatory inclusion of age-restriction alerts and responsible gambling messages will be the norm. Plus, users will gain the power to block gambling-centric ads at their discretion.
The genesis of this groundbreaking proposal traces back to the recent appointment of Marco Emilio Hincapié Ramírez as Coljuegos’ president in June. With these potential changes, the future of gambling advertising in Colombia is poised for a responsible and transparent transformation.