ommenting on Colombia’s unique position in Latin America, Julio Tamayo, Managing Director at WPlay.co, explained: “The Colombia case is regarded as a success and having been the first Latin American country to regulate online bets, together with the fact that WPlay.co was the first operator to obtain a contract from Coljuegos, this will be hugely relevant at Juegos Miami. This is a historic milestone in the legal transition and institutional acceptance of online gaming.”
The WPlay.co platform, which offers 50 sports and more than 100 ways to bet, has been created to be 100% responsive to the needs of the Colombian market and has played a major part in the country’s online gaming economic success. Discussing how other countries in the region could learn from Colombia regarding the economy and responsible gaming, Tamayo said: “To different levels, what Colombia has experienced is a modern regulation of the gaming industry, adapted to the new technologies facilitating an unprecedented offer to users, as well as access and business development of legal operators and responsible gaming online platforms and a gaming-friendly tax system. Only six months after the online gaming regulation in our country in 2017, operations had yielded $5.362 billion Colombian Pesos in use rights by the authorised operators till the end of the year. More than 50% of this amount was contributed by Wplay.co which is a good start in the transition to a regulated market, due to the growth dynamics of online gaming.
“If all regulatory bodies accept that the future of gambling is here, and it is in online gambling, the first thing they will do is work on regulations that allow legal and safe operations for the gamblers and that facilitate business development in order to achieve the social aims that gaming has in each country.”
He concluded: “As the Manager of WPlay.co, one of the objectives I have with my attendance to one of the most important events on the continent, Juegos Miami, is to strengthen our company and to prove to the sector that our platform, 100% developed by Colombian engineers and suited to the Colombian market, is able to face the big challenges arising from the revolution that the regulated online gaming industry is experiencing in Colombia. One of the most relevant aspects of events such as Juegos Miami is the opportunity to hear first-hand from the different attending countries what they have to say about gaming regulation as well as their market experience and different platform offerings. It’s an opportunity to find providers with whom we can do business in the future to expand the offer and thus improve the leisure industry in Colombia and beyond.”