Video slots, table games, live dealer games, online poker, sports betting, and fantasy sports are all included in the Coljuegos licenses which are issued to some of the best online casinos operating in the thriving Latin American iGaming market.
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Coljuegos, or the State Industrial and Commercial Company Administrator of the Rent Monopoly of the Games of Luck and Chance, is a renowned gambling operator based in Bogota, Colombia. Since it was established by the government in 1991, the organization has undergone several changes to better adapt to the thriving Colombian iGaming market.
In terms of gambling laws and regulations, Colombia has made a massive change in recent years, primarily to address several issues relating to online casinos and online gambling in the country. Colombia was one of the first few countries in South America to authorize fully regulated land-based and internet gaming. Colombia legalized land-based gambling in 1991 and some forms of online gambling in 2016.
The Coljuegos licensing incorporates video slots, table games, live dealer games, online poker, sports betting, and fantasy sports under a single license. In contrast, many other licensing authorities where there are separate licenses for different gambling and online gambling services and products. At the same time, the gambling operator issues different licenses to gambling operators and gambling providers.
More specifically, online gambling operators can get a game supplier license from the Coljuegos to offer games of chance and other online gambling products. At the same time, online gambling providers have to obtain a different type of remote gaming license from the Coljuegos to be able to offer their games and products at licensed online casinos. Aside from licensing operators to offer online casino and sports betting products, the Coljuegos also licenses other gambling activities, including:
The Coljuegos works with several accredited laboratories that ensure the fairness of online gambling products, including BMM, GLI (Gaming Laboratories International), SIQ, Quinel, iTech Labs, eCogra, and Trisigma BV. All Coljuegos licenses have to operate according to strict gambling rules and regulations imposed by the Colombian gambling authority. For instance, casino software must be certified by an accredited regulatory body, such as eCogra or iTechLabs.
All iGaming operators also have to conduct yearly audits on the fairness of their software. In addition, all operators licensed by the Coljuegos must offer safe gambling options by employing different safety and security measures, such as relying on SSL data encryption and HTTPS technologies. They also require a decent Privacy Policy.
Obtaining a remote gaming license from the Coljuegos costs $200,000 a year. Before operators can get their licenses reviewed, the licensing body performs a review to make sure all the licensing requirements are met. These licensing requirements also include making sure that all iGaming sessions are properly recorded and stored and that all player complaints are taken care of.
Recently, the Coljuegos started working on establishing a better Responsible Gaming Policy to protect the local community from the detrimental effects of excessive gambling. The new national Responsible Gaming Policy will also aim to promote trustworthy and accurate information about the gambling industry and all of its various segments to help gambling fans make better and more informed decisions.
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The Coljuegos is responsible for monitoring and regulating all forms of land-based and online gambling activities in Colombia, including casinos, sports betting sites, venues offering raffles, lotteries, and more.
Gambling operators invest $200,000 a year to obtain a gaming license from the Coljuegos. Before they can get their licenses renewed, the licensing body conducts a yearly review to make sure all the licensing requirements are met.
Gambling operators with licenses issued by the Coljuegos can legally operate in the Colombian gambling market as one of the main responsibilities of the licensing authority is to strengthen and improve the local gambling scene.
Operators that want to obtain a license from the Coljuegos must comply with a series of financial, operational, safety, and other requirements. In other words, they have to employ effective safety and security measures, deal with customer complaints promptly, make sure customers’ funds are stored properly, etc.
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