Gambling laws are strict but Columbia is actually the only country in the entirety of Latin America that has a market and structure to permit and allow for online gambling in a regulated environment. This, however, is new and so moving towards mobile gambling is a work in progress.
The online gambling is an evolving and growing industry and is becoming so prominent in Colombia that trade shows and expos are popping up and becoming annual events that are well attended by local residents and those in neighbouring countries as well. Technology and innovation is creating an exciting opportunity for online and mobile gambling.
Land based casinos in Latin America are heavily regulated, but online casinos and their regulation are relatively liberal in Colombia. 2017 was the year that the first license for online gambling was issued. Since then, laws and regulation for online gambling have evolved with some unique restrictions and rules.
Some of these unique restriction s include the fact that live games are only able to and legally allowed to be offered by licensed online gaming operators. Further, unlike many other Latin American countries, Colombia allows citizens to use online platforms that are based and operated out of foreign countries.
What is a casino license? The first step in understanding the importance of only playing and using licensed casinos is to understand what a casino license actually is. Essentially, a casino license is issued by the regulatory body in the nation/ region to a gambling operator as a sort of seal of legitimacy.
In order to receive a license, an operator must prove that it meets and follows a set of criteria and regulation that range from offering legitimate and legal games to an operator's abiity to protect consumer information and look out for consumer safety and security. This criteria is often publically available.
When using an online or mobile gaming platform and doing so with real money, there are few considerations to ensure responsible online gambling. Firstly, understanding the operator's commitment to consumer protection and the levels of security as it relates to personal information can be important before even signing up for an online casino.
Further, once you have signed up, it is important to make a budget and understand what you are not only WILLING to spend but also how much you can afford. Understanding and playing within ones' limits helps reduce the risk of losing money, addiction and other issues proven to be related to online gambling.
Colombia is a Latin American country with nearly 50 million citizens, making it the second largest country in South America by population. The population is young, with over half of the population being under 30 years old. The country has a high literacy rate and a skilled workforce.
In terms of the economy, the longstanding democracy make the country one of Latin America's most stable democracies. This is one of the reasons for the successful free economy and market. The economy has diversified and grown consistently over the last decade with increasing presence in industries ranging from agriculture to gambling.