Colombian Regulator to Launch Blockchain-Enabled Keno in Coming Months

Colombian Gambling Regulator Moves Closer to Legalizing Keno with Blockchain Technology

In a significant move for Colombia’s gambling landscape, Coljuegos, the country’s gambling regulator, is preparing to legalize keno within the next few months. This marks a crucial step towards regulating a gaming vertical that has long been offered illegally. With the integration of blockchain technology to enhance transparency and traceability, Colombia is set to become a pioneer in Latin America’s regulated gaming market.

The introduction of regulated keno in Colombia is poised to revolutionize the gambling industry in the region. As keno has been a popular yet unregulated game, its legalization under the strict oversight of Coljuegos is expected to bring a new level of transparency and trust. The regulator’s decision to incorporate blockchain technology into the issuance of keno tickets underscores the commitment to creating a secure and verifiable gaming environment.

Coljuegos President Marco Emilio Hincapié has confirmed that the regulatory body is currently finalizing pre-contractual documents in preparation for a public tender. The innovative use of blockchain technology will ensure that every keno ticket issued is traceable, providing a safeguard against potential manipulation. Hincapié emphasized the importance of transparency in the process, noting that the introduction of blockchain will make Colombia the first country in Latin America to use such advanced technology in a gaming product.

“The board of directors of Coljuegos has kept the door open for the possibility of having one or more keno operators across different regions of the country,” Hincapié explained. “This approach will ensure a plurality of providers and allow for healthy competition, ultimately benefiting the players and the industry alike.”

The projected impact of regulated keno in Colombia is substantial. Coljuegos estimates that within five years, keno could generate sales exceeding COP2.8bn (€628,649), contributing over COP485m (€108,000) to the country’s health services. The tax structure for operators is expected to range between 15 and 17 per cent, with an additional 1 per cent administration fee. Players will have the convenience of purchasing keno tickets both online and at retail outlets, with betting amounts ranging from COP1,000 (€0.20) to COP20,000 (€4.50), and the potential to win up to COP1.68bn (€377,000).

Hincapié is optimistic about the broader impact of this initiative, stating, “We are changing the history of Coljuegos. The regulation of new games like keno, coupled with our efforts to combat illegal gambling, will significantly increase the resources we transfer to the health sector. By the end of the year, we hope to exceed COP1.2bn (€269,000) in contributions.”

Colombia continues to lead the way in Latin America’s regulated gambling market. With the impending legalization of keno and the innovative use of blockchain technology, Coljuegos is setting new standards for transparency and security in the industry. As Colombia moves towards finalizing the regulations and launching keno, the benefits to both players and public services are expected to be significant. This initiative not only strengthens the integrity of the gambling sector but also reinforces the country’s commitment to responsible and transparent gaming practices.