Coljuegos Extends Responsible Gambling Action Deadline in Colombia

Colombia Strengthens Responsible Gambling Framework: A Strategic Extension by Coljuegos

A Timely Extension for Enhanced Gambling Responsibility in Colombia — In a decisive move aimed at bolstering player protection, Coljuegos, Colombia’s leading gambling regulator, has granted operators additional time to implement comprehensive responsible gambling (RG) initiatives. This extension underscores a deep-rooted commitment to fostering a safer gambling environment across the nation.

Background and Impetus for the Extension:

Coljuegos has issued Resolution 7,624 of 2024, which now sets the new deadline at August 1, 2024, for all operators holding a concession contract to fully integrate RG measures. This decision reflects Coljuegos’ strategic approach to ensure that operators have sufficient time to deploy effective RG frameworks tailored to the Colombian market’s unique needs.

Objectives and Expected Outcomes:

Marco Emilio Hincapié, the President of Coljuegos, outlined the dual-stage strategy behind the extension: the initial implementation stage focuses on integrating self-control mechanisms for players, while the subsequent monitoring phase evaluates the effectiveness of these strategies. The ultimate goal is to elevate RG awareness and prevent inappropriate gambling behaviors that could lead to gambling-related harm.

Collaborative Efforts and Community Engagement:

Recognizing the importance of a multi-faceted approach, Coljuegos is set to convene a working group on May 2, which will include various foundations aimed at promoting RG. This collaboration is part of a broader initiative to build a robust support network for individuals displaying signs of problem gambling, involving organizations that offer mental health services.

Regulatory Aspirations and Challenges:

In a bid to expand its regulatory capabilities, Coljuegos attempted to assume control over gambling advertising in Colombia last year. Proposed measures included strict limits on marketing expenditures and a crackdown on misleading advertisements. Despite these efforts, the legislative framework needed to enable these changes was not passed, illustrating the complexities and challenges in evolving gambling regulation.

Legal Landscape and Taxation:

Colombia has been at the forefront of gambling regulation in Latin America since the passage of Law 643 in 2001 and the landmark Egaming Act in 2016, which legalized online gambling and sports betting. The taxation system is intricately designed to support this regulatory framework, with operators taxed based on their return-to-player (RTP) rates, enhancing fairness and accountability in the industry.

Conclusion:

The extension granted by Coljuegos is a strategic measure that reflects a deep commitment to responsible gambling and player safety in Colombia. By allowing additional time for the implementation of RG actions, Coljuegos is taking a proactive stance in ensuring that the gambling environment is not only vibrant and thriving but also secure and responsible. As Colombia continues to lead by example in gambling regulation in Latin America, the global gaming community watches closely, anticipating further innovations and developments that could set new benchmarks for responsible gambling practices worldwide.