Colombia’s national gambling authority, Coljuegos, has proposed a resolution to adopt new advertising restrictions alongside changes to other licensing conditions.
The potential reforms will need to be approved by Colombia’s Congress to be enacted, which if successful will see new requirements adopted by 1 January 2024.
Regarding advertising, restrictions will follow a ‘tiered system’ whereby the more revenue an operator contributes to the state the more breathing space they will be given on marketing.
This means that new entrants to the market will only be able to allocate 20% of gross gambling revenue (GGR) to advertising campaigns. Any marketing material itself will also be subject to a range of conditions.
Adverts will have to clearly display what entity is producing the commercial or messaging, Other rules prohibit depictions of gambling as something that comes without financial risk.
Sports sponsorships will also be included under the proposed regulations, with Colombian sports teams required to gain Coljuegos’ permission in order to sign a partnership with an operator.
Betting firms which breach regulations could be subject to hefty penalties. Coljuegos remarked: “In the event that an operator exceeds the established range, they will be subject to a fine equivalent to up to 100% of the amount exceeded in the investment.”
Advertising is not the only aspect of the resolution the regulator addressed, however, as it also seeks to update regulations on how credit card deposits are handled and the adoption of mandatory responsible gambling tools.
The resolution comes shortly after Coljuegos sponsored a Bill to the Colombian Congress that would name it the ‘control authority’ responsible for monitoring all forms of gambling advertising in the country.
