Is Online Sports Betting Legal in Colombia?
The South American nation of Colombia has established itself as one of the most advanced in its approach to online gaming. The government realized that there was a chance to partner with Colombian sports betting platforms and collect huge amounts of taxes. As a result, this resulted in the legalization of internet gambling in Colombia in 2016.
The eGaming Act has led to the formation of Coljuegos as the government’s regulatory authority for the online gaming industry. Any website that offers gambling services and wants to be a legal entity in Colombia must comply with its rigorous regulations which are put in place to safeguard gamblers round-the-clock.
The 2017 legalisation of online sports betting exchanges and virtual sports betting, combined with the early success of the legislation, has intensified this trend. This was a highly successful move for Colombia to legalize it as seen by a 106.3% increase in revenue from online gambling alone generated by licensees to $19.6 million in 2019.
However, ISPs have blocked some foreign betting sites that take Colombian bets. But the good news is that almost all major online bookmakers are accessible in Colombia with security and you would not be short of choices for sure.
Mobile Sports Betting in Colombia
Online sports betting offers numerous opportunities, one of which is finding a good chance and the need to bet promptly. A laptop is not enough since you might need it for placing wagers at all times. Instead, you should be able to make use of your smartphone or tablet.
The apparent advantage of mobile betting apps is that you can place your bets wherever, and whenever.
It means that in live betting, you make more than a prediction on the outcome of a football game or any sporting event. Rather, the odds will keep fluctuating as time goes on.
When you see a betting opportunity, it’s much easier to reach into your pocket and pull out your phone than to start up your desktop or laptop. However, by the time you finish doing this, the odds could have changed dramatically and that bet you intended to place may have been suspended or the odds could change so much that there is no point in placing it.
Is the Colombian Peso Accepted at Sports Betting Sites?
While some of the indigenous gambling places will allow the Colombian peso (COP), this is not the case with most international betting websites. For them, it is easier for customers to change first into other currencies and many platforms work best with major currencies like British Pounds, Euros or US Dollars.