Royal Betting Solutions receives Colombia’s twelth iGaming operator license

Royal Betting Solutions receives Colombia's twelth iGaming operator licenseReading Time: 1 minute

Colombia has issued its 12th online gambling license to local firm Royal Betting Solutions SAS.

On Monday, Coljuegos, the Colombian gambling regulator announced that Royal Betting Solutions SAS had received permission to launch online operations via its domain. Royal Betting, a venture of local construction, commerce and services entrepreneurs, has signed on for an initial three-year term.

Coljuegos revealed approximately 870,000 players have registered with licensed operators in the lead up to the Football World Cup, an increase of 35 percent.

The maximum football event has allowed online bets to continue showing their power in the country,” President of Coljuegos, Juan B. Pérez Hidalgo, said.

Colombians, since the start of the licensing regime in July 2017, have bet more than $ 500,000 million, with deposits on average of $ 20,000, through active licensed operators to date.

We have also identified that the 5 cities where these kind of bets are most made are: Bogotá, DC, Neiva, Villavicencio, Florencia and Ibagué.

Coljuegos said it had raised $ 15 billion in operating rights since July 2017 with bets in 2018 having generated an 88 percent increase in revenues compared to the second semester of 2017 ($ 5,362,166,552).

An analysis of the past year of operation shows 85 percent of players are male between 18 and 40-years-old whose main payment of choice is cash (97 percent).

The authority aims to have 17 online operators authorised by year end.



Source: European Gaming Industry News

After starting out as an affiliate in 2009 and developing some recognized review portals, I have moved deeper into journalism and media. My experience has lead me to move into the B2B sector and write about compliance updates and report around the happenings of the online and land based gaming sector.