Chile's government have published the country's first online gambling bill, which would introduce and regulate igaming in Chile.
Chile's Ministry of Finance first announced plans to legalise online gaming in Chile in February 2021, with aims to introduce a bill to do so in the first quarter of the year.
However, the bill was ultimately not published in 2021 at all.
Now published, the bill states that all betting entities in Chile must hold a general licence, which lasts for a total of five years. However, it proposes that operators that wish to offer online gaming must have a special online betting licence that is non-renewable.
The legislation outlines that the government wishes to have an objective licensing criteria as opposed to a monopoly or bidding process, due to the “flexibility required by the development of a nascent industry” that “by its nature will be constantly in a process of change”.
Tax will be at 20%. From the amount of tax collected, $50m will go to social initiatives.
Licensees may offer online versions of any type of game permitted under current gaming regulations, with the exception of lotteries.
The bill also establishes Chile's casino regulator Superintendencia de Casinos de Juego as the regulator of the online gaming market, adding that it will be renamed to include betting and games of chance. Operators must submit to all terms outlined by the Superintendencia in order to receive an online gaming licence.
In terms of social responsibility, the bill stipulates that no minors or self-excluded individuals can place bets.
Placing online bets on events that are targeted at minors will not be allowed, along with using characters or graphics in betting advertisements that could entice minors to bet. Betting on credit will also be prohibited.
Operators must also donate a minimum of 1% of their gross annual contributions to support initiatives that promote responsible gambling.