Chile’s Chamber of Deputies has approved an iGaming bill that now heads to the Senate
Chile’s Chamber of Deputies has approved a bill to regulate online gambling and sports betting, with 80 votes in favor, 36 against, and 18 abstentions. The proposal now moves to the Senate, where the related commissions will debate it.
Reports say the bill was vastly supported in the two votes. The special quorum rules vote received 97 in favor, 28 against, and nine abstentions. The separate ballots approved the articles delivered by the commissions.
The initiative was first proposed in a message from the previous administration’s Executive, who added reports from the Economy, Sports and Finance commissions during the process. Deputies Miguel Mellado, Jorge Guzmán and Jaime Naranjo presented the reports to the Chamber.
The Chamber says the law seeks to generate a competitive online betting market by protecting public confidence, player health and safety, and increasing tax revenue. It also aims to publicize the sources and destinations of the resources gained through these platforms.
The law will establish the prerequisites and conditions for the authorization, administration, operation and supervision of online betting platforms. It also discourages children and adolescents from accessing games and developing addictive behaviors related to online gambling.
Approved online betting platforms will pay an annual license fee of one thousand monthly tax units, the government’s account unit used to calculate taxes.
Operators must also distribute two percent of their gross income to sports, one-third of which will be given to the National Sports Institute, another third will go to the Chilean Olympic Committee (COCH) and the rest will be distributed to the Chilean Paralympic Committee.
Regarding taxation, operators will pay a 20% tax on gross revenues and a 1% responsible gaming contribution, with the possibility that disbursements can be deducted if measures are assigned for this objective.
Emma Rodriguez is the Proofreader at the Big Blind, with seven years of experience and five years in online gambling. She plays a crucial role in maintaining content quality by ensuring error-free, reader-friendly information about the gambling industry.
