The Chilean government has sped up the process of regulating online gambling. The online gambling bill has been given “supreme urgency” status by the government, which means that the Senate will have to vote on it within 15 days.
The online gambling bill was first introduced into the Chilean Congress in March 2022 and establishes a licensing system for online gambling operators. This means that online gambling operators must obtain a license from the Chilean government and also form a local company in Chile. In addition, the bill would increase the number of laws governing online gambling operations, strengthen anti-money laundering laws and impose additional regulations on responsible gambling.
As part of the bill, online gambling operators will be required to pay 20% of gross gaming revenue VAT to the Chilean government, as well an additional 1% of gross gaming revenue for responsible gambling programs. Gamblers will pay 15% of winnings on a winning bet to the Chilean government.
The bill will provide the Chilean government the authority to block unlicensed online gambling sites and suspend payments to unlicensed gambling sites. If convicted, online gambling operators could be fined and/or imprisoned.
The bill will also add restrictions on gambling by minors, self-excluded gamblers (those who exclude themselves from gambling) and individuals with an outstanding alimony obligation. A national exclusion registry for everyone who has self-excluded and is registered in a self-exclusion program will also be created.
