Chile's iGaming future: Ahead of presidential elections
Chile does not have a specific law that prohibits online betting. Consequently, platforms operate without being regulated, but they are not declared illegal either.
The current government has maintained a conservative stance, prioritizing the protection of the state-owned company Polla Chilena, while the regulation project slowly advances through Congress.
Meanwhile, the Lotería de Concepción managed to get the Supreme Court to order the blocking of 12 international platforms, although the companies remain active by using alternative URLs and mirror domains. The companies Dreams S.A. and Enjoy S.A., which hold almost all of the 24 casino licenses in the country, lead the opposition to the advancement of iGaming, which they consider a direct threat to their physical business. Paradoxically, the casinos themselves now claim to support the regulation of online gambling, but on the condition that fair rules are established regarding taxation and operations. The casinos defend the idea of directly participating in the digital market, integrating their physical operations with their own online betting platforms, following the hybrid model adopted in markets such as Spain, Colombia, and Argentina.
Both companies, along with the state lotteries —Polla Chilena de Beneficencia and Lotería de Concepción— have pressured to halt the bill seeking to regulate online betting, an initiative that has been stalled for three years in the National Congress.
Presidential elections in Chile
The future of gambling regulation in Chile could be defined after the presidential elections, which will go to a second round on December 14. The official candidate, Jeannette Jara (Communist Party), has expressed her intention to completely ban online betting and strengthen the role of the State through Polla Chilena.
In contrast, right-wing candidate José Antonio Kast, the favorite in the polls, has expressed his support for a modern and competitive regulation of iGaming, open to private investment.
An expanding industry despite the lack of regulation
Despite the legal vacuum, online betting platforms have consolidated in the country, sponsoring teams in the Chilean First Division football league and national sporting events.
According to industry estimates, the Chilean iGaming market exceeds USD 400 million annually, with a 25% year-on-year growth, driven by high mobile penetration and payments via WebPay and international cards.
Meanwhile, Dreams S.A., one of the giants in the physical sector, reported a 97% increase in its consolidated revenues in 2024, with operations in Chile, Peru, Colombia, Argentina, and Panama, although it sold part of its Peruvian assets to focus on its local market.
Chile faces a regulatory turning point: either it moves toward comprehensive legislation that integrates physical and digital gambling, or it continues in a scenario of tension and legal ambiguity.
For the sector, the challenge is no longer to debate the existence of iGaming, but how to regulate it effectively, ensuring user protection, fair taxation, and business competitiveness.
Tags: Chile, online betting regulation