Colombia: LatAm’s leader among regulators?
Colombia’s Coljuegos in the lead for regulatory supremacy across LatAm
Online casinos have widely evolved in recent years across LatAm. However, when it comes to regulation it is not always plain sailing as not every country in the region has established such ordinance in conjunction to market needs. Therefore, regulation in some countries is not always that obvious.
In South America, there are laws that do affect countries such as Brazil, Peru, Chile, and even Argentina however, Colombia is widely considered as a go to point by its counterparts. It remains to date, the only fully regulated market in the region.
In 2011, a regulatory board by the name of Coljuegos was established in order to grant licences which would allow bookmakers and casinos to operate in accordance with the law. In turn this gives a peace of mind to players that their interests are being prioritised.
Additionally, Coljuegos was founded and designed to evolve with the ever changing dynamic of the gaming industry due to the fact that any new game or type of payment method introduced, will most likely result in new rules. With this continuous adaptation of regulations the possibility of fraud is greatly minimised.
Due to these new controls, participating players can rest assured that an organisation is actually monitoring each transaction to determine whether it is completely legitimate.
Furthermore, many South American countries have followed Colombia’s approach and have established regulations to ensure security for their players within their respective country.
Colombia has many years of experience in terms of gambling legislation. It has become a benchmark that all countries should target, not only by creating laws that ensure a secure infrastructure every time the user decides to play a game, but due to the positive impact such legislations have on the society and community in general.
Source: Soloazar
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