On March 7, 2022, the government presented a bill aiming to regulate gambling platforms in Chile in Bulletin Nr. 14838-03.
Specifically, the Bill aims to regulate online gambling platforms (the “Platforms”), which cannot operate under current law as they are not expressly authorized. The gambling industry legally authorized to operate in Chile mainly consists of (i) casinos, (ii) racetracks, (iii) Polla de Beneficencia (Chilean state-owned company, authorized to conduct gambling activities), and (iv) Lotería de Concepción (part of the Universidad de Concepción and also authorized to conduct gambling activities).
In addition to developing a flexible regulatory framework, the Bill aims to (i) create a more competitive market; (ii) protect the users of these Platforms; (iii) safeguard public trust; (iv) enhance transparency of the origin and allocation of the resources obtained in this activity; (v) and increase tax revenue.
If it becomes law, the Bill will be supplemented with a regulation, and oversight will fall to the Superintendency of Gambling Casinos, which will be renamed the Superintendency of Casinos, Betting and Gambling.