Colombia Introduces Sports Betting Action

In efforts to answer the needs of millions of potential players, Colombia has finally decided to launch its own sports betting industry.

According to gambling news, Colombia’s state run offer Las Deportivas is licensed by regulator ColJueges while Corredor Empresarial powers it. The country introduced a new pari mutual sports betting offer which makes it the first of its kind in over ten years in the nations that has strongly expressed the need for a new gaming service.

The service so far facilitates football betting, but is looking at options to expand into other areas to grow the business, once the regulatory framework comes into full swing of things. ColJuegos president, Cristina Arango, highlighted that the gambling industry experienced the strongest growth last August, with the main areas being casino, bingo and various slot games.

Diversified gaming portfolio is the key for success

The president of the Federacion Colombiana de Empresarios de Juegos de Azar (Colombian Gaming Employers Federation), Baltazar Madinahis, expressed his views by stating that the primary reasons why the gambling industry hasn’t advanced until recently was due to several factors. The uncertainly in the industry, the lack of supply and insufficient state support were among the main reasons why the business hasn’t manage to develop.

Mobile betting sites report that Coljuegos president Arango highlighted the need for a diversified gaming portfolio. “The idea is to have a wider choice of games that have proven successful in other countries, so that consumers have different options and income for health increases.”