- The Chilean Senate approved Bill No. 14838-0 to regulate online sports betting.
- The measure will establish a tax plan for licensed sportsbook operators and block unregulated sites.
SANTIAGO – The Chilean Senate Finance Committee approved a bill to legalize and regulate online sports betting. The legislation was originally approved by the Chamber of Deputies in late 2023, now advancing to the Finance and Economy Committees before finalization in September.
Bill 124838-0 will require online casino/sportsbook operators to pay a 20% income tax, while gamblers will be taxed at 15% of their winnings.
This new push seeks to contribute to lottery and racing revenue, while combating unlicensed practices. A seminar on responsible gambling was recently held to address further actions to mitigate the dangers of gambling in Chile.
“The vast majority of Chileans gamble responsibly. However, in the latest study (2022) carried out by the Corporation, Gambling Addiction had a significant increase reaching 8.3%, gamblers at risk 18.%, which coincides with the massive arrival of online bookmakers.
The Chilean sports betting bill’s emphasis is to combat money laundering on legal sports betting sites by regulating the industry internally.
The Ministry of Finance is to create an online gambling policy for current operators.
