Chilean Senate approves online betting regulation bill in general vote
The legislation moves forward with measures to license operators, tax the sector and combat illegal gambling.
Key points:
– Senate passes bill in general by 27 votes to 3
– Framework includes licensing, advertising restrictions, and anti-money laundering measures
– Tax plan imposes 20% specific tax plus VAT on licensed operators
Chile’s Senate has approved in general a bill to regulate online betting platforms, aiming to create a formal licensing system and strengthen enforcement against illegal operators.
The proposal, which passed with 27 votes in favour, 3 against and 5 abstentions, will now proceed to detailed review in the Senate’s joint Economic and Finance Committees.
The bill seeks to protect player safety, ensure transparency in betting revenues and align the sector with other legal forms of gambling such as lotteries and horse racing.
It introduces a National Responsible Betting Policy, restrictions on advertising and a ban on betting by individuals with influence over the outcome of events.
Enforcement measures include blocking payment transactions and access to unlicenced platforms, as well as criminal penalties for operating or promoting illegal gambling.
Good to know: The bill had already received unanimous backing from the Senate’s Finance Committee
Licenced operators would be subject to VAT, a 20% specific tax and an additional 1% rate to fund responsible gaming initiatives.
A 2% levy on gross sports betting revenue would also support national sports bodies.
According to the government, operators that have been active illegally will only be able to apply for a licence after a 12-month cooling-off period, subject to paying a one-off tax based on past revenue and user accounts.
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