Chile's Senate gives green light to Bill 14838 for legalizing online sports betting
Chile Advances in Legalizing and Regulating Online Sports Betting
Chile is moving forward in its efforts to regulate the online gambling industry, with the Senate Finance Committee's approval of Bill No. 14838-0 to legalize and regulate online sports betting. The bill, which received a strong majority vote, aims to integrate digital betting into the regulated market, increase transparency, and boost fiscal revenues.
The bill establishes a tax system that includes a 20% income tax on licensed sportsbook operators and a 15% tax on gamblers’ winnings. Additionally, a 2% annual levy on gross sports betting revenue will be allocated to the National Sports Institute to support sports development.
The legislation also targets illegal activity by aiming to block access to unlicensed websites and apps, enforcing criminal sanctions against unauthorized operators, and aligning online betting regulation with Chile’s broader economic intelligence and organized crime-fighting laws. This includes preventing bets from individuals who can influence sports results and enhancing anti-money laundering controls within legal betting sites.
Consumer protections are another key aspect of the bill. Measures include age restrictions to prevent underage gambling, safeguards to ensure fairness and randomness of betting games, and efforts to promote responsible gambling to reduce addiction risk. The bill notes a rising concern for problem gambling as online betting grows rapidly.
The online gambling policy by the Ministry of Finance is a new development in these ongoing regulations. The policy, which is aimed at current operators in Chile, is expected to provide guidelines for the industry. However, it does not directly address issues of responsible gambling or have any specific taxation details for operators.
The bill, which was previously approved by the Chamber of Deputies in late 2023, is currently advancing through the Finance and Economy Committees. It is expected to undergo detailed review by the joint Economy and Finance Committees with amendments expected by late September 2025.
It's worth noting that a 2022 study revealed a significant increase in Gambling Addiction in Chile, reaching 8.3%, with 18% of gamblers at risk. A seminar on responsible gambling was recently held to address further actions to mitigate the dangers of gambling in Chile.
This comprehensive legal framework for online gambling, if passed, is expected to contribute to Chile's fiscal revenues, estimated at around CLP 84 billion annually, and increase public trust in the sector. It represents a significant step towards integrating digital betting into the regulated market.
- The bill to legalize and regulate sports betting in Chile, Bill No. 14838-0, received a strong majority vote from the Senate Finance Committee.
- Bookmakers operating in the online sports betting market will be subject to a 20% income tax if the bill is passed.
- The new legislation targets illegal betting activities by blocking access to unauthorized websites and apps, and enforcing criminal sanctions against unlicensed operators.
- Casino gambling and sports betting are being integrated into the regulated market in Chile, aiming to increase transparency and boost fiscal revenues.
- Consumer protections, such as age restrictions and safeguards to ensure fair betting games, are key aspects of the bill to prevent underage gambling and reduce addiction risk.
- The online gambling policy by the Ministry of Finance provides guidelines for current operators, but does not have taxation details or provisions for responsible gambling.
