Colombia is the first fully regulated online gambling market in Latam, where a licensing framework was introduced in the mid‑2010s. Regulator Coljuegos was created in 2011, and between 2016 and 2017, the authority implemented the concession model for online betting and casino, making Colombia the regional reference point for regulated igaming. Historically, gambling in Colombia evolved from state‑controlled lotteries and land‑based casinos into a mixed monopoly/open‑licence system, where private operators run gambling under concession contracts, while lotteries remain under state control.
As of 2025, Colombia has a population of around 53 million and a GDP of approximately ~$457bn, with GDP per capita just over $8,500 and annual growth close to 2.6%. On governance indicators, Colombia scores around 37–40 on Transparency International’s Corruption Perceptions Index, placing it in the mid‑range globally and reflecting persistent, but not extreme, corruption risks.
In gambling terms, Colombia had a total GGR of around ~$2.6bn in 2025. There are 15 licensed online operators in 2026, more than 12 million active online gambling accounts, and more than 100,000 legal slot machines estimated to be distributed across several thousand licensed venues, while the illegal segment still represents a significant share of overall gambling activity.
Regulations
Colombia regulates gambling through four wide categories:
- Localised games, which include land-based activities: bingo, slot machines, betting via terminals, casinos and poker.
- Novelty games, which include non-traditional types of lotteries (instant, numbers) and online games (online casino, slots and betting).
- Promotional games, which include commercial prize promotions organised by companies to advertise or promote their goods or services, where participants enter free of charge for a chance to win prizes.
- Raffles, which include one-off prize draws conducted through ticket sales, typically for charitable, community or promotional purposes, rather than as a permanent gambling activity.
Therefore, traditional gambling verticals in Colombia include land-based casinos, sports betting terminals, slot machine halls and online gambling. Colombia issues licenses with different terms and availability depending on the vertical. Most verticals require a concession agreement, as well as separate authorisation from the regulator and, where applicable, local municipalities.
In addition, Colombia does not regulate B2B activities as a separate licensing category. However, operators remain responsible for ensuring that games, platforms and technical systems comply with certification and technical requirements under their licence.
Licence requirements
For the purposes of this overview, only two gambling categories are relevant: localised games and novelty games. Together, they cover Colombia’s traditional land-based and online gambling markets. The remaining gambling categories mainly relate to lottery products, where private sector participation is significantly restricted.
Localised games (land-based gambling)
Operations may only be conducted by legal entities that obtain prior authorisation from Coljuegos and enter into a concession agreement with the regulator. In addition, each venue requires approval from the relevant municipal authority before commencing operations.
To operate localised games, an applicant must:
- Be established as a legal entity in Colombia.
- Operate from commercial premises located in an area where gambling activities are permitted.
- Meet the minimum gaming inventory requirements, generally at least 80 gaming elements (METs), or the equivalent for mixed operations.
- Provide corporate documentation, including certificate of incorporation and legal representation, evidence that the company’s corporate duration extends throughout the concession term plus an additional 30 months, confirmation that the corporate purpose includes gambling activities, information on shareholders, including disclosure of ultimate beneficial owners through corporate ownership chains.
- Provide gaming documentation, including registration details for every gambling venue, documentation confirming that each venue corresponds to the approved municipal authorisation and declared gaming inventory, completed application forms and gaming equipment inventory, evidence of ownership or lawful possession of gaming equipment.
- Provide financial documentation, including tax compliance and evidence of mandatory social security contributions, previous year’s tax return, or an explanation where filing was not required, bank reference letter.
Some verticals are subject to additional operational requirements:
- Bingo – minimum seating capacity depends on the municipality’s population (from minimum three to 20).
- Slot machine halls – at least 80 slot machines, all registered in the Coljuegos inventory, with requirements to display the required regulatory identification, to have unique Coljuegos identification number, to be connected to Coljuegos’ central monitoring system.
- Betting terminals – limited to wagers on virtual sports and simulated racing events offered through terminals installed in authorised gambling venues.
- Casinos – shall include slot machines and tables, while poker can be organised only inside casinos.
Applicants must also satisfy minimum financial ratios. Coljuegos reviews the operator’s financial position before granting authorisation, including current ratio of at least 1:2, total liabilities not exceeding 80% of total assets, equity equal to at least 30% of the concession value and interest coverage ratio above one, where applicable.
Novelty games (online gambling)
Novelty games represent Colombia’s online gambling regime and include online casino, online slots, online betting and certain non-traditional lottery products, limited for issuance to private operators.
Online licensees must operate through a Colombian company or a registered Colombian branch of a foreign company. Authorisation is granted by Coljuegos under a concession agreement.
To obtain a licence, an applicant must:
- Specify the website through which gambling services will be offered (.co domain), whereas only one domain is permitted per licence.
- Operate only for Colombian residents with Colombian national ID cards or valid foreigner resident ID cards.
- Ensure that the company’s corporate purpose includes gambling activities, maintain a corporate duration extending at least two years beyond the concession term.
- Obtain technical certification from a laboratory recognised by Coljuegos.
- Submit financial statements, provide a bank reference for the player funds account, submit documentation supporting the concession value calculation, demonstrate compliance with tax and mandatory social security obligations.
- Implement an AML framework, including internal policies, a code of conduct and the appointment of a compliance officer.
Coljuegos also applies minimum financial requirements before granting authorisation. Operators must maintain working capital of at least 1,450 monthly minimum wages (~$768m), interest coverage ratio of at least 1:1, total liabilities not exceeding 70% of total assets, and equity equal to at least 30% of the fixed concession payments and administrative fees for the entire concession term.
Player funds are subject to separate safeguarding requirements. Operators must:
- Maintain player funds in a segregated bank account in Colombia.
- Use that account exclusively for player funds.
- Maintain sufficient funds to cover all player balances available for withdrawal.
- Refund player balances upon termination of the concession or transfer unclaimed funds into an approved trust arrangement where reimbursement is not possible.
Operators must also provide financial security covering player winnings and player fund refunds. The amount is linked to 15% of GGR and must be updated periodically.
Finally, the technical rules establish a minimum theoretical return to player (RTP) of 83% and prohibit several betting products, including:
- Bets on the outcomes of slot machines, casino table games, bingo and other games determined by a random number generator.
- Bets on lottery or numbers games.
- Bets on events linked to virtual currencies.
- Bets on financial market indicators.
- Bets on events that infringe fundamental human rights, including political events.
In addition, pari-mutuel sports betting and horse race betting fall outside the scope of the novelty games regime.
Licence cost and term
Both localised and novelty games are issued via concession agreements, which cannot be less than three years and more than five years. Overall financial burden includes:
- Bingo – either 12% GGR or from ~$18 to ~$60 per seat per month.
- Casinos – either 12% GGR or ~$2,100 per table per month, minimum ~$160 per slot machine per month.
- Slot machine halls – either 12% GGR or from ~$160 to ~$240 per slot machine per month.
- Betting terminals – either 12% GGR or 17% GGR.
- Online gambling – 15% GGR licence fee, plus 811 minimum salaries per year (~$430,000), plus 1% of licence fee. Additionally, online operators shall present bank guarantee for winnings in amount of around ~$186m.
Taxation
Colombia has a differentiated tax regime for gambling. Land-based gambling is subject to the ordinary 19% VAT regime, although VAT is calculated using fixed statutory tax bases rather than the operator’s actual revenue (eg the number of slot machines, casino tables or bingo seats). Online gambling is taxed separately: since 2026, online operators are subject to a temporary 16% national consumption tax, in addition to the licence fee of 15% GGR. As for the general corporate taxation, there are also 35% CIT rate and 10% to 30% withholding tax.
Responsible gambling
Colombian gambling legislation combines responsible gambling measures with strict technical controls designed to ensure the integrity of gambling activities. In parallel, operators must implement a comprehensive anti-money laundering (AML) framework in accordance with Coljuegos’ regulations.
Colombian regulation establishes several general principles aimed at protecting players and preventing misleading gambling practices.
Operators are prohibited from:
- Marketing gambling as a guaranteed source of income or presenting games as risk-free or purely skill-based where outcomes depend on chance.
- Offering or selling gambling products to minors, to persons declared legally incapacitated due to mental illness or self-excluded.
- Offering gambling products that may endanger players’ health.
- Offering gambling to employees and other individuals capable of influencing game outcomes.
- Conducting fraud, defects or any interference capable of altering the random nature of the game or the probability of winning.
Before commencing operations, every operator must submit a responsible gambling program to Coljuegos. At a minimum, the program must include:
- Permanent notices stating that gambling is prohibited for minors.
- Responsible gambling messaging.
- A self-exclusion procedure.
- Tools allowing players to limit deposits, betting activity or gaming session duration.
Operators must offer players the possibility to self-exclude for a chosen period. During self-exclusion, players cannot gamble or fund their gambling accounts. Upon expiry of the exclusion period, they may either extend or cancel the restriction.
Anti-money laundering (AML)
All operators must implement an internal AML/CFT compliance system. The AML framework must include risk management policies and procedures, internal controls and monitoring mechanisms, record-keeping procedures, reporting mechanisms, employee training and compliance documentation.
Operators’ internal policies must also specifically address:
- Prohibition of business relationships with persons suspected of involvement in money laundering or terrorist financing.
- Allocation of AML responsibilities between management and control functions.
- Internal code of conduct.
- Customer identification before prize payments, chip exchanges, withdrawals or execution of contractual documentation.
- Cooperation with supervisory and law enforcement authorities.
- Record retention and confidentiality.
- Monthly reporting to both the Financial Information and Analysis Unit (UIAF) and Coljuegos.
- Confidential handling of suspicious transaction reports.
- Disclosure of shareholder and beneficial ownership information upon request.
Customer identification requirements apply to both land-based and online gambling activities. At a minimum, operators must verify customer identity before paying winnings, exchanging casino chips, processing player withdrawals or entering into contractual relationships.
Suspicious transactions must be reported immediately to the UIAF; reporting is triggered whenever a transaction appears suspicious under the operator’s internal procedures.
Operators are also required to submit monthly threshold reports covering:
- Single transactions exceeding ~$1,500.
- Multiple transactions by the same individual exceeding ~$4,500 within one month.
- Prize payments exceeding ~$1,500.
- Cumulative monthly winnings exceeding ~$2,400.
Additionally, operators must maintain technological systems capable of monitoring customer transactions, consolidating operational data and generating regulatory reports. Employees and contractors must receive AML training at least one per year, with training records maintained and staff understanding documented.
Finally, every operator must appoint an AML compliance officer. The officer must be registered with Coljuegos, formally accept the appointment and submit professional qualifications for review. Except within a corporate group, the same individual may not serve as AML compliance officer for more than one operator. If the position becomes vacant, the operator’s legal representative temporarily assumes these responsibilities until a replacement is appointed.
Marketing
There is no general prohibition on gambling advertising in Colombia. However, local regulations impose several restrictions on the advertising and promotion of gambling products.
General rules include:
- Gambling operators may not advertise or market gambling in a way that conceals its random nature or the risk of losing.
- Gambling products may not be offered, featured with or advertised to minors, self-excluded or those with limited capacity.
- Only licensed gambling products may be promoted. Advertising or offering offshore games is prohibited.
- Gambling ads in medical and educational facilities are prohibited.
For online gambling, there are additional advertising requirements. In particular:
- Advertising must clearly relate to the licensed website and operator.
- It is forbidden to add testimonies from winners.
- Advertising must include responsible gambling messages and a warning that participation by minors is prohibited.
- Targeted ads must be pre-agreed.
- Advertising must include information about the risks associated with gambling.
- Bonuses, promotions and marketing campaigns must not mislead consumers regarding the characteristics of the gambling product or the chances of winning.
It is also important to note that in 2023 Coljuegos introduced financial limits on advertising expenses. In simple terms, operators could not spend more than the following two limits, whichever was lower:
- 20% of their advertising calculation base, linked to GGR after regulatory payments.
- The equivalent of 11,000 monthly minimum salaries (~$5.8m), or 8,000 monthly minimum salaries (~$4.2m) during the first year of operation.
However, these limits are not currently in force. In summer 2026, the Council of State provisionally suspended the advertising spending caps, related reporting duties and related sanctions. Therefore, operators must still follow the general advertising rules, but the financial advertising caps do not currently apply.
Market specifics for entry
Colombia is considered the most mature regulated gambling market in Latam, supported by strong player engagement, a well-established regulatory framework and stable GGR performance.
The market includes 15 licensed online operators, such as BetPlay, Stake, Betano, Codere, Betsson, and RushBet. The land-based segment remains significant, with approximately 100,000+ legal slot machines operating across more than 3,700 venues.
Despite the progress of the regulated sector, illegal gambling continues to account for approximately 35% of betting activity, making enforcement a key priority for regulators. Coljuegos has blocked tens of thousands of unlicensed websites, established a Judicial Police Unit, introduced programs to formalise previously illegal slot machines and invested in AI-based real-time monitoring solutions.
Looking ahead, Colombia is expected to maintain steady high single-digit growth, driven by sports betting, live casino and emerging products such as keno and virtual sports. The country is likely to remain the leading reference market for regulated igaming in Latam.
The 4H view
Colombia is a high‑value but high‑complexity market: regulatory clarity and institutional experience reduce licensing uncertainty, but the combination of old, scattered rules, detailed concession conditions, financial ratio tests and strict AML/RG obligations raises the bar for operational discipline and governance.
For land‑based operators, the country is most suitable for focused, professionally managed clusters of casinos and slot halls in major cities rather than broad national coverage. In the online segment, Colombia can be treated as a reference market for regulated Latam operations: once systems, processes and product design are aligned with Coljuegos’ expectations, they are generally scalable to other jurisdictions in the region with limited adjustments. At the same time, business models must factor in compressed margins due to cumulative licence fees, consumption tax and guarantees, and carefully design products around prohibited bet types and underlying events.
Overall, Colombia is recommended for experienced regional or international operators with strong internal compliance and risk functions, transparent ownership, and the ability to maintain a constructive dialogue with the regulator and local partners. For new or smaller entrants, the combination of profitability, complexity and numerous pitfalls makes the jurisdiction significantly harder than more straightforward markets and increases the likelihood of costly missteps.
Stasya Yautodzyeva is head of analytics at 4H Agency.
The post The 4H View: Everything you need to know about Colombia first appeared on EGR Intel.
EGR partner 4H Agency delivers its monthly insight into a regulated market’s key requirements. This month, Colombia is in the spotlight
The post The 4H View: Everything you need to know about Colombia first appeared on EGR Intel.