Over the last few years, South America has experienced rapid and significant growth in the online gaming industry and it does not appear that it will decline ...
Over the last few years, South America has experienced rapid and very significant growth in the online gaming industry and it does not seem that it will decline anytime soon. It is expected that with the success of new online games and the increasing population of players, the online game development industry is expected to grow continuously over the next few years.
Colombia is currently the only country in South America that has managed to establish and consolidate its own online gaming market. It is the first of the countries to achieve this and has been fully regulated since 2017. This regularization includes that its citizens can play on gaming websites located abroad.
The market for online players in South America is huge. Brazil, Mexico or Argentina (where online players outnumber traditional casino players) are seeing growth in recent years.
The rise of online Casino in Chile
Other countries, such as Chile, where online gambling is still illegal, have seen quite large and surprising growth in the last two years. Although there are online casinos to play in Chile, there is still no modern regulation since the last one is from 2005 and is focused on gambling in traditional casinos.
When we think of the gaming development industry, Chile is not the first country that comes to mind. But Chile has a small group of highly talented developers. It has an emerging scene of startups and with the support of the government in favor of exports, there are some local companies that are beginning to have weight in the international market.
Chile's game developer market grew consistently until 2015-2016, when it was affected by the exit of two large foreign companies: DeNA and Behavior. However, the talent cultivated by those companies was soon absorbed by local companies.
Will Chile follow the example of Colombia?
Many news make you believe that gambling in Chile is illegal, but nothing is further from the truth there are many casinos that operate from Chile such as Betsson Chile . The question is the one we raised above. Will Chile follow Colombia's example?
Soon to be presented a new project is intended among other things to protect the safety of players by more effectively monitoring the activities of licensed operators.
Finance Minister Ignacio Briones said this would also help generate more tax revenue for the country.
Chile is still on the path of economic recovery from COVID-19. With the physical casinos still closed, the government is looking for other sources of tax revenue.
"Casinos are relevant for the economic development of the country both in their contribution to the financing of municipalities and regional governments through the payment of taxes and in the development of tourism in the regions," said the Ministry of Finance.
In conclusion, it is expected that sooner or later the Ministry of Finance of Chile will present a new bill that regulates online sports betting, internet casinos and other forms of online gambling and will become the second country in Latin America to regularize online gambling.
see also finance and business knowledge
