Colombian betting industry regulations do not allow 'international liquidity'
in ColombiaTrade barrier summary
The current Colombian regulation is not clear enough about accepting international liquidity, because the current definition of "Apuesta Cruzada" (back and lay bets) is ambiguous. Some changes in the regulation could be useful to clarify the scope and facilitate entrance into the market for UK businesses: 1) stating that the definition of "Apuesta Cruzada" can be interpreted, covering bets made by customers registered in jurisdictions outside Colombia, and 2) defining the tax base for calculating the so-called "exploitation rights" to ensure that betting exchanges that will be regulated in Colombia, are taxed on the commission they charge to their winning customers - as already outlined in Article 3(18) of the regulation.
Sectors affected
- Sports economy
Resolved
No
Date reported
18 August 2020
Last updated
1 February 2021
Public ID
PID-G3J86B
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