Chile finalizes new gambling bill

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.

What's Next for Chile's Gambling?

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 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.