As one of the most advanced countries in Latin America (if not the most advanced when it comes to laws and regulations towards gambling and betting), Colombia regulated online gambling a short time ago. Since then, the list of legal bookmakers available to Colombian bettors has been expanding, currently reaching almost 20 different platforms.
All these operators offer bettors complete reliability and security, operating under a license granted by Coljuegos, the regulatory body of the Colombian Government. Sports betting sites in Colombia offer many types of bets and a wide variety of markets, along with a very extensive sports offer.
Be that as it may, in a plethora of options, many potential bettors may find it challenging to select a quality sports betting site in Colombia. Read on as we discuss everything about sports betting in Colombia – laws, markets, offers, best sites, bonuses, and much more.
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Is Online Sports Betting Legal in Colombia?
Sports betting, as well as casino gambling, is fully legalized in Colombia. There are certain criteria that bookmakers have to fulfill in order to get a license from the state. This provides player protection and a safe gambling experience.
In 2015, the Colombian government joined forces with Coljuegos, a state-owned industrial and commercial company in charge of regulating the sector, which had been created in 2011. Thanks to this union, at the end of the year, a first regulation was drafted with procedures and standards regarding online gaming technologies, which had to be followed in order to obtain an activity license.
As a result, the first law on internet gambling was approved in Colombia at the end of 2016. Since then, online gaming operators have been authorized to offer gaming and betting products in the country as long as they have obtained the aforementioned authorization or license from Coljuegos, platforms must pay a tax of 16% of their gross winnings in accordance with the law.
Their work has decisively contributed to financing the health system since the collections obtained from Colombian sports betting houses that operate online are destined to improve the national health system. Such is the case that, since the creation of Coljuegos, gambling and betting have contributed to this end the amount of 3.8 billion Colombian pesos, from collections for exploitation rights and tax rates.
The path followed by Colombia to regulate gambling and betting, specifically the one that takes place online, is impacting the average spending of the Colombian bettor. According to Coljuegos, the average betting website user spent only $20 in 2015, while in 2017 (with the regulation), the figure had risen to $94. The trend is on the rise, and the expected market volume in 2024 is estimated to reach $889.1 million.
Coljuegos has promoted new online gaming modalities such as live casinos, bingo with the player’s remote presence, and the immediate response incentive, which was approved by the National Council for Games of Luck and Chance. The fact is that the rest of the countries in the region look to Colombia to elaborate their regulations on online gambling.
A key factor in the increase in online betting is the growing spread of the internet in the country. Today it already reaches 69%, while mobile connectivity is close to 120%; that is, in Colombia, there is more than one mobile device per inhabitant. Smartphones are the clear dominators in terms of devices used since 93% of Colombians access the internet through smartphones.
Many current sports betting sites in Colombia have plenty of experience in the gaming business and provide accessible betting on football online. In addition, new online bookmakers are constantly applying for licenses and work permits in Colombia and the list, therefore, is expected to get longer and longer in near future.
Before choosing a bookmaker in Colombia, it is always a good idea to check its specific characteristics. In general, the offer is not the same depending on the betting platform you choose. Each user has their own preferences when betting. For example, there may be customers who are more attracted by promotions. Others, however, value betting markets or other features.
Therefore, the best choice will depend on each user. These are the most important points that will greatly affect the customer’s experience when betting in Colombia.
Coljuegos, Industrial and Commercial State Company Administrator of the Income Monopoly of Games of Luck and Chance – its job is to ensure a legal and safe environment for Colombian users. For this reason, all the Colombian bookmakers that have the Coljuegos seal printed on their main page are completely safe and legal.
With this, you can ensure that all your personal data, as well as the transactions you carry out, are completely protected. In this way, you will have no reason to worry and you can focus solely on sports betting in Colombia, or its casino games. The ‘Authoriza Coljuegos’ seal guarantees a safe environment.
One of the most demanded searches when making sports bets in Colombia are bonuses and promotions. The best sports betting sites in Colombia have various kinds, be it welcome bonuses for new users, bets or free spins, bonuses for your second and third deposit, improved odds, etc.
With this, you, as a user, could benefit from a series of advantages that could be an important extra in your plays. The best bonuses and their release terms and conditions are always analyzed, and you can consult them at all times.
Bonuses and promotions would be worth nothing if the user did not have sports markets in which to play. For this reason, players should always be directed to the betting markets, the odds, and all the possibilities offered by the best Colombian bookmakers.
Hundreds of markets at your fingertips, the possibility of following broadcasts of events via streaming or withdrawing bets ahead of time. Everything influences the betting experience in the long term and has available the option to make sports bets in Colombia with a handicap, exact markers, or even bet on virtual sports and events of all kinds.
Absolutely all sports betting sites in Colombia have certain odds for sports markets. Depending on the bet you make and the amount you play, your winnings are decided by the betting odds. That is why it is important to take odds into account when betting.
That is when the comparison between bookmakers in Colombia gains importance. In other words, one operator may offer a better rate than another for the same event and specific bet. That will mean that you could win more if you pay at a betting platform with better odds.
Absolutely all payment platforms that are enabled for the client must guarantee data security and protection. Colombian bookmakers provide plenty of various, safe and reliable payment methods. In turn, a wide range of options in this regard will always be a positive point.
Every reputable Colombian bookmaker should provide the option for fast resolving of any possible problem, incident, or doubt. For that reason, always make sure that the operator provides complete customer service. User support will be of great help, but it is also important for it to be efficient and quick.
In Colombia, it is common to find euphoria in sports. These are activities that have permeated the depths of the Colombian citizen, becoming culture, custom, and topics of conversation at all times.
This is why, when an opportunity arises to be able to make profits using the knowledge of sports, nobody lets it escape. And that is what has happened since online sports betting houses have been legalized throughout the nation, which means that anyone can play with their money on web portals regulated by national or international entities.
All you have to do is register, verify your account, deposit the money and bet according to the predictions of the matches that you prefer. Colombian bettors can place various bets that help to generate more profits at the end of the session.
All websites allow you to play a multitude of sports, and you should use an online casino without a problem. The best thing is that you can bet on several sports at the same time and multiply the profits.
In summary, there are 3 steps that must be followed to bet legally at sportsbooks in Colombia:
Patiently choosing the online platform that is going to be used to bet on sports is very important, since depending on the page, you can get special promotions and bonuses to boost your earnings.
In addition, the references and regulations of the web must also be reviewed before doing anything else, only in this way can you ensure that the company will comply with your withdrawal of money.
Once you have chosen the Colombian bookmaker you are going to use; you must create an account to be able to use the platform. It is a simple process in which they will ask for personal data, a username (which will be an email that you use and that you can confirm), and a password.
After this, you will already be a member of the community of the bookmaker in which you have registered.
You need to verify your user account in order to withdraw your winnings. The procedure takes about 24 hours, and the bookmaker may ask for an identity document and a service invoice (depending on the platform) as proof of residence address.
Once done, you can start freely using the platform and place bets on current and upcoming matches. On the other hand, you have to know that the platforms may require a minimum deposit amount, which can be from $10 and up.
And that’s it! You are ready to place some bets. Choose your favorite sports, select the games and markets that you want on your betting slip, place a bet, and wait. The lucky ones will have their account enriched by more money, which they can either withdraw or use for further betting.
A good betting page should offer sports that Colombian bettors like. Bearing that in mind, here are the most popular disciplines that Colombian bettors love to bet on.
If all the Colombian bookmakers have something in common, it is their wide range of possibilities to bet online. The huge number of sports disciplines offered by the operators in Colombia adds to almost endless fun. Here are some of the most interesting types of online bets for your sports predictions in Colombia.
A bet placed on a single outcome in a sports event. It is the simplest and most straightforward type of bet.
A wager that allows you to cover two out of three possible outcomes in a sports event, reducing your risk but offering lower odds.
Bets placed in real-time as the sports event is taking place, with odds that change dynamically based on the current score and situation.
A bet that gives one team a virtual advantage or disadvantage, leveling the playing field and altering the odds.
A type of bet that allows you to make multiple selections and covers all possible combinations within those selections to increase the chances of winning.
A bet where you predict the exact final score of a match, offering high odds due to its difficulty.
Considered one of the most striking and popular strategies offered by online bookmakers, casino and sports bonuses attract, invite, and encourage users who enter for the first time to bet on a web portal or a mobile application. Each bonus contains gift money that you will receive just for creating an account as a new user on the platform or for depositing money after completing your registration process. In the latter case, generally the value of the bonus is the same amount of money that you deposit, which means that if you enter $10,000, you will have a total value of $20,000 pesos to bet.
It is important that you identify the different bonus percentages offered by sports betting sites in Colombia since they vary between 50%, 100%, and 150% in most cases. Each one can be played and redeemed in compliance with the terms and conditions related to the bonus, such as the wagering requirements and the time limits for using them, among others.
If you are thinking of benefiting from and making use of these gift bonuses, it is essential that you know what types there are, in addition to the no-deposit and the first deposit bonus. Here are the most common bonuses and promotions that you can find at online bookmakers in Colombia:
A bonus provided to new bettors when they first register with a betting site. Typically includes free bets or a matched bet based on their first deposit.
A bonus awarded to new bettors without any initial deposit requirement. This can be in the form of a free bet or bonus credit for betting.
A bonus that offers a certain number of free bets based on various criteria like deposit amount, betting patterns, or promotional offers.
A bonus given to existing bettors when they deposit additional funds. Often takes the form of matched bets or enhanced odds for certain events.
A bonus awarded to bettors who introduce their friends to the betting platform. It can come in the form of free bets, enhanced odds, or a percentage of their friend's first bet.
A bonus tailored for VIP bettors with unique perks and benefits. Perks might include personal account managers, exclusive betting offers, and faster withdrawal options.
What Is the Best Payment Option for Colombian Players?
So far, when talking about national and legal betting houses, bank cards have the best features - they are safe, free of fees, widespread, and relatively fast (withdrawals are a bit slow). Close by are e-wallets, which are also safe and widespread, but also faster. The only disadvantage is the small fee that has to be paid during collecting money.
Colombia’s best sports betting sites have multiple payment methods to make deposits and withdrawals with total comfort and maximum security. Most of them are free of depositing and withdrawing commissions. Generally, to make a withdrawal through a method, it is necessary to have made a previous deposit through the same method due to security issues.
These are the methods Colombians use to enter and collect on sports betting platforms.
Both online and land-based sports betting is legal in Colombia.
Colombia has strict regulations and only safe casinos and bookmakers can receive a gambling permit.
Much like casino gambling, online sports betting is well-regulated and therefore quite safe in Colombia.
Each online sports betting site in Colombia will provide different conditions when it comes to limits. Every banking option has its own conditions as well. It is recommended to read the terms and conditions before depositing money.
The players, or better said, the winners, must pay taxes on the winnings obtained. This retention, the income tax for obtaining prizes, is applied to players if the prize exceeds 906,000 Colombian pesos. The amount withheld for the tax will be 20% of the prize.
The processing time required before withdrawing money depends on both the bookmaker and the banking option. While most bookmakers offer instant withdrawals, some require 24 hours. In addition, the selection of banking methods is important as well. E-wallets are the fastest, followed by internet banking, credit and debit cards, and lastly bank transfers (the latter taking around 5 working days).
It is impossible to choose a single sports betting site in Colombia and say it is the best. Instead, players should go for bookmakers that offer services that are suitable for the player’s needs. This includes safety, great odds, a variety of sports to bet on, and banking methods of preference.
Colombian bettors can bet on many sports, most commonly football, basketball, tennis, motorsports, and similar.
Unsurprisingly, football is the most popular sport to bet on in Colombia.
There are three different types of betting odds that bookmakers provide – decimal, fractional, and American odds. The decimal odds are the most common ones in Colombia and they work like this: chances of winning are presented in decimal numbers (1.5, 2.0, 2.60, etc.). Winnings are calculated by multiplying odds with the money invested – 2.0 odds x 1000 pesos = 2000 pesos win.
Some sports betting sites in Colombia will offer free bets as part of bonuses and promotions. These are often rare and should be collected whenever possible.
The sign-up bonus is offered to new players. Whoever creates a betting account for the first time at a particular betting site, will be able to collect this bonus immediately upon registration. Sometimes it is needed to input a certain promo code or deposit money for the first time.
Players who experience gambling addiction can always look for a local psychiatrist for help. Also, there is Hospital Universitario de San Vicente Fundación, a private hospital located in Medellín, Colombia, that specializes in gambling addiction treatment.
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