Chile’s Sports Betting Market Is Almost Completely Built

The Chilean Ministry of Finance has announced that its draft for regulating online gambling and sports betting is in its final stages, scheduled to go to Congress.

Chile to Regulate Online Gambling and Sports Betting

The Chilean Ministry of Finance has announced that its online gambling and sports betting project draft is almost complete and scheduled to go before Congress.

At the beginning of 2021, the executives promised regulations for the gaming sector as the industry is already thriving. Senator Rabindranath Quinteros estimated that the gaming industry could provide at least $200 million in revenue. According to officials, the proposal will be up for debate in the weeks ahead.

When confirming that the project is in its final stages, the Undersecretary of Finance said that it will be a “competitive and transparent online betting market, which will protect the health and safety of the players.”

The department also commented that regulation would increase tax collection, provide transparency and prevent minors from gambling. Politicians from different parties showed support for the regulation measures.

There should be enough votes in the Senate for the regulation bill to move forward. Quinteros said that they are even open to having TV programs exclusively dedicated to the games of chance.

Casinos banned during the Pandemic Now allowed to Reopen

The pandemic has hit all industries around the world, but especially the gaming sector in most countries. Land-based casinos suffered bans, and closures during 2020, revenue loss, and even bankruptcy. The land-based gaming sector is slowly recovering and moving forward, as most casinos can now reopen in compliance with restrictions unique to each country and region. Quinteros said that the illegal online gambling market is growing as the casinos have been banned from operating during the pandemic.

The city of Chillán entered Phase 3 of reopening, and its Casino Marina del Sol Chillán can also resume its operations this week. Even though it is allowed to reopen, the casino will work from Monday to Sunday until 10 pm.

Marina del Sol UX and Marketing corporate manager Ester Ramírez Herrera said that gaming tables would open with fewer options and that the property will offer poker, roulette, blackjack and bingo. All of the machines will also reopen.

Herrera said that the casino couldn’t guarantee that all of the staff could return to work since there is a reduction of machines and tables. The employees will receive COVID unemployment insurance, allowing them to get 70% of their salary.