Chile Advances Online Betting Bill
In the same month that Brazil’s Senate passed its sports betting bill, Chile has made similar strides with online betting. Its online gaming and betting bill was approved by Chile’s Chamber of Deputies this December, meaning the proposal will now continue in the next legislative steps. The bill will go to the Senate and be looked over by relevant commissions there.
Chile’s sports betting bill will proceed to the Senate.
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A majority for sports betting in Brazil’s Chamber of Deputies
When it came down to voting, the online betting bill in Chile was broken into two voting moments. One was for general provisions and was approved by 80 votes. While 18 abstained, 36 were against. The other vote was for accepting or denying specific articles that commissions suggested in relation to the bill.
As with its Brazilian counterpart, Chile’s bill has also been in the works for some time. The bill was of interest to Chile’s Executive Branch as a solution for infusing more flexibility into the state budget. This can also explain the timing of the vote. If Chile could fully approve online betting by the end of the year, they may be able to count on this money as a part of the 2024 budget. The same situation was created in Brazil.
Several commissions have added their voices to the project. These are the Economic, Sports and Finance Commissions. Each has a stake in the proposal and thus had recommendations to make about it, which were heard by the Chamber of Deputies. Overall, though, the goal of the project remains the same: to create a legal, regulated and competitive online betting vertical.
Several other components are important to the ethos of the bill. Chile’s government is keen to protect the public by promoting safe and responsible gambling. Therefore, these aspects must be echoed in the final text, along with rules for future operators to ensure responsible gaming measures are maintained.
Tax collection is the other — probably most important — point. A tax collection system will also be a major component of the final project text, determining what payments are received from operators, in what quantity and frequency, how revenue and winnings are taxed, and how all of that money is distributed.
In line with efforts to reduce money laundering and other illegal activity in Chile and throughout the world, Chile’s government will also draw a hard line in regard to transparency of betting operators. These operators must commit to showing their profits and cooperate with authorities when necessary.
This is also true for the subject of match-fixing. Some opponents of online sports betting cite an increase of match-fixing as a reason to limit the activity. Sports books must also be willing to take part in match-fixing investigations and share their data when needed.
In line with global standards, minors will not be allowed to access these platforms. Meanwhile, illegal gambling — like on platforms that are not licensed — will be punished more strictly, since a legal alternative will be available. Illegal operators will be subject to fines and criminal punishment in some cases.
Some opponents still remain. The ones who voted against the bill — and who will probably continue to be vocal about it until it is officially signed into law — cite issues such as match-fixing, the influencing of minors and gambling addictions as reasons to not allow legal sports betting.
However, the official government line has not budged. Since illegal betting exists, the right way to combat the issue seems to be regulating the industry and using the proceeds on social projects, as well as on combating some of the issues that have been raised by opponents.
