Three senators agree on key points to regulate online gambling
A regulated online gambling market could contribute around 300 million dollars annually to Chilean coffers. This figure was put forward by Senator Matías Walker when presenting, alongside Gastón Saavedra and Ricardo Celis, the agreement they all signed this Tuesday to unblock the regulation of online sportsbooks in Chile.
The document is based on four pillars: a licensing system, user protection measures, advertising restrictions, and a specific tax regime. It was drafted by a technical committee of parliamentary advisors who, in recent weeks, worked with representatives from the Ministries of Finance, Economy, and Security.
Saavedra, president of the Economy Committee, described the regulation as necessary and urgent, linking the absence of controls over online gambling to security problems and organized crime. Among his concrete proposals, he suggested limiting advertising during hours when minors are present and establishing an inflexible and strict tax regime.
Celis, for his part, focused his intervention on the need to create a legal framework for an activity that currently lacks specific regulation, with the aim that the State can collect revenue from a legal activity and channel resources towards municipalities and sports, in addition to strengthening the protection of minors and measures against problem gambling.
Walker contributed the chapter on financial control. He proposed incorporating rules on ultimate beneficial owners to identify the real owners of the platforms and strengthening the intervention of the Financial Analysis Unit and the Commission for the Financial Market, along with biometric controls to prevent access by minors under 18 and allow tracking the origin and destination of funds. Regarding the estimated 300 million dollars, he noted that these resources could be allocated, among other purposes, to the reconstruction of regions affected by disasters.
Walker himself recalled that the Senate has already approved the idea of legislating on online gambling and that there are indications related to problem gambling and access by minors. On tax matters, he stated that the ball is now in the court of the Ministry of Finance, which must present its indications for the discussion to advance.
The bill seeking to regulate online gambling in Chile entered Congress in 2022 and was approved by the Chamber of Deputies before moving to the Senate, where its processing was stalled for years. Meanwhile, the activity operates outside Law 19995, applicable to land-based casinos, in a scenario that in recent weeks has seen the judicial blocking of sites and the collection of VAT from foreign platforms.
Tags: Online gambling regulation in Chile, Matías Walker, Gastón Saavedra, Senate Economic Committee