Colombia: online gambling to experience 40 percent growth during World Cup

With the launch of six online gambling platforms in 2017, bets placed via the internet amounted to $ 112 billion Colombian pesos –approximately USD 40 M–, a figure which represents 0.7% within the total amount produced by the overall gambling sector, $ 15.8 trillion pesos –USD 5.6 B. This indicates that online wagering would amount to over $ 44 billion pesos –USD 15.7 M– at the end of the international football competition.

"95% of online bets are placed on football, where more than 37 million fans can bet on their favorite team and choose between more than 300 variables, for example, the matches’ score, the number of fouls and penalty cards or even the number of corner kicks. We hope that these opportunities and the classification of our team will be the main drivers of gambling growth during the World Cup," explained Montero Cárdenas.

The number of registered players has also risen: it went from 212.866 players registered in 2017 to 442.998 so far this year. The six operators' licensing rights -granted in 2017- produced approximately $ 5,362 million pesos –USD 2,000, which were devoted to the health sector.

"Land-based and online gaming operators have taken advantage of this opportunity to define business strategies and review the possibility of expanding their brands and possibly close deals that will benefit their businesses and make them more profitable," added Montero Cárdenas.

"At FADJA, we have strengthened Fecoljuegos as the representative of the businesses’ interests before government and private entities, as well as highlighting the importance of trade associations as spokespersons for this industry of extreme importance for the country's economy. Additionally, we extended our invitation to land-based and online operators and manufacturers who are not yet affiliated to our association, to join this great family and work together for the welfare of operators and the future of this industry," concluded Montero Cárdenas.