Colombia's gambling sector reports $11.2B+ in revenues between January and October

The Colombian gaming regulator, Coljuegos, informed that the land-based and online gaming sectors registered revenues of 54.5 billion Colombian pesos, equivalent to $11.2 billion, between January and October 2022. This amount represents an inter-annual increase of 52%.

According to Coljuegos' report, the payment of operation rights rose, in the same period of time, by 21% to 608,172 million pesos, about $125 million.

Likewise, the regulating entity specified that of the total amount, land-based games -such as casinos and bingos- registered bets for 32.8 billion pesos ($6.7 million), reaching a 46% growth compared to 2021.

In the same line, Coljuegos pointed out that the games operated by the Internet reported bets for 21 billion pesos ($4.3 million) in the first ten months of the year, implying an increase of 66% year over year.

In this regard, the president of the regulating entity, César Augusto Valencia Galiano, explained that in the first ten months of the year, the gaming industry has demonstrated its resilience before the adversities of the Colombian economy.

"This is a result that evidences the strength of the gaming sector as a legal and responsible entertainment activity, which manages to contribute to the economy in the middle of a situation that is not easy for productive activities," he highlighted.

"We are pleased that so far this year, the gaming industry reports growth in the number of bets and in operation rights. We expect to end the year in a very positive way, taking into account that we have important events such as the Soccer World Cup in Qatar," added the regulator.

Contributions to health

Meanwhile, Coljuegos highlighted that the contributions made to the Health sector between January and October of this year already exceeded the figures delivered during the whole of 2021. "In the first ten months of the year, Coljuegos transferred 676,435 million pesos ($139 million), which means 29% more than the total of 2021, when transfers closed at 520,397 million ($107 million)," officials specified.

About this, Valencia Galiano stated: "The feeling of this gaming industry is its contribution to the health of Colombians, the reason why we are pleased to register an accelerated recovery in terms of transfers, surpassing the figures of the total of 2021 with only two months left before the end of 2022".

Finally, the regulator invited Colombians to "opt for games of chance as a legal and responsible gaming activity, only in Internet portals or in establishments authorized by Coljuegos."