The government of Chile has published a framework aiming to regulate all gambling sites operating in the country. After a prolonged negotiation that predicted the law would be enacted in early 2021, the Chilean Parliament will discuss it in the next few weeks. It will be the first legislation that will ask for a license from all online gambling operators, active for 5 years if it gets approval. The bill is expected to collect around $55 million in taxes in economic terms from a total market worth of $150 million.
Undersecretary of Finance for Chile, Alejandro Weber commented on the issue: "With this project, we will set clear rules for an industry that is not currently regulated in Chile. This is a good project, which we hope will pick up its pace and be approved as soon as possible."
The legislation will require a 20% tax on gross income from companies and a 15% tax on net winnings from players. Moreover, operators will have to give 2% of gross income to the various sports federations relevant to the betting activity and 1% for responsible gaming actions. If the bill passes from the Parliament, the regulatory authority Superintendencia de Casinos de Juego (SCJ) will get a name change to Superintendencia de Casinos, Apuestas y Juegos de Azar (SCAJA). The government aims to get the bill running before 2023.