Future of Online Gaming in LatAm Region: Set up a Casino Business in Chile

The flourishing possibilities of gambling entertainment are increasingly apparent in developing destinations. The Latin American region is undergoing substantial technological and economic advancements. Governments learn to handle industries like gambling and leverage their growing demand effectively. At the same time, operators in states such as Chile are presented with plentiful opportunities to configure and run their businesses on a fully legal basis.

Online Casino Market stays ahead of the curve and keeps a close eye on the dynamic developments within these rapidly growing territories. The moment an opportunity for a lucrative project arises, we provide our clients with swift access to the sector, complete with comprehensive support during and after the launch.

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A Thriving Digital Ecosystem

Chile’s gambling sector has a rich history and continues to flourish in modern times. The nation has been a key player in the gaming world since the mid-19th century, with its first casino-related legislation in 1852. Throughout the years, the country’s strong economic foundations and forward-thinking governance have paved the way for a thriving betting and casino culture.

The creation of Chile’s first gambling hall in 1930 marked a critical moment, although exhaustive regulations did not emerge until decades later. Virtual entertainment made its debut in 1994 with the launch of an online casino by the global leader, Microgaming. Today, nearly 1,000 operators can be found in the area. Collectively, they generate an impressive $150 million annually.

The industry’s remarkable growth is underlined by Chile’s strong digital infrastructure and internet penetration. With 19.6 million inhabitants, 94% are active web users. On top of that, an equivalent of 153% of the population is connected through mobile networks. This strong culture has been instrumental in creating a smartphone-friendly gambling ecosystem with accessibility for clients across the country.

Oversight from the Superintendencia de Casinos de Juego guarantees fairness and responsible practices. This regulatory framework is combined brilliantly with tech-savvy residents and economic stability. As a result, Chile shines as a prime destination for online gambling ventures.

Chile offers unparalleled possibilities for operators who look to establish profitable gambling ventures in a flourishing market. As iGaming continues to expand, the country stands out as an example of growth and innovation in Latin America’s region.

Legal Online Gambling Framework

Chile is shaping up to be a favourable destination for iGaming operators, thanks to its progressive approach to regulation. The country draws parallels with Brazil and has demonstrated a commitment to a structured and inclusive environment for new market entrants.

The foundation of Chile’s gambling regulation lies in Law 19.1995, which governs land-based casino, lottery, and bookmaker activities. However, the virtual sector has yet to fully align with these established rules, which is why the niche has some regulatory gaps. The government recognised this and introduced Bill 035/2022 in March 2022 to establish a more resilient framework for virtual operations.

The decree is guided by several key principles:

1. Regulatory amendments. Updates have been incorporated into the Superintendence of Casinos, Betting, and Gaming resolution to include online activities.
2. Working permits. Licences are issued for a five-year term and can be renewed with an option for a temporary six-month permit.
3. Allowed services. Operators can offer casino and sportsbook activities but are restricted from providing lottery-like entertainment.
4. Taxation policy. All platform owners are subject to a 20% gross revenue tax, and bookmakers are required to pay an additional 2%.

The proposed regulations are not yet entirely in effect, but significant progress has been made. In June 2023, the bill received approval from the Economic Commission of the Chilean Chamber of Deputies and moved closer to the final green light by the Senate.

The steady advancement of these regulations reflects Chile’s intention to create a balanced digital gambling ecosystem. The framework is predicted to deliver mutual benefits like tax revenues for the authorities, legal and lucrative opportunities for operators, and a safe, trustworthy place for users.

Licensing and Financial Gateways

Any illegal operation within the country will be quickly tracked and immediately banned. However, there is still no possibility to acquire an official working permit in Chile. That is why operators have to address offshore commissions to get a licence and function legally in the area.

Operators who function in Latin America often opt for Curacao and Kahnawake jurisdictions. Commissions of these countries provide all the necessary support for official work in Chile. Locals trust platforms that are registered in these destinations. So, credibility levels are going to be high with these licences.

There are also many payment gateways in the country. Operators can create a diverse financial system with fiat and crypto methods for quick deposits and withdrawals.

Visa and Mastercard are the most popular card-based methods. The majority of locals use their services when it comes to banking. As for e-wallets, NETELLER, Skrill, and Red Compra are the most used providers. Other settlement means, including mobile and prepaid services, are MuchBetter, webpay, paysafecard, and AstroPay.

Digital funds are also becoming more popular in the region. Bitcoin is used in the country on the federally approved level. BTC and similar widespread tokens are effectively implemented in iGaming platforms thanks to a well-developed financial framework in the country.

In 2023, the government approved the Fintech Law to recognise Bitcoin and similar crypto assets. In 2024, digital funds were ranked the third most popular investment target among Chileans. As a result, iGaming business operators quickly embraced the convenience and benefits of crypto in gambling.

Casino Advertising in Chile

Gaming platform owners have a lot of freedom in popularising their projects in the region. There are no regulations regarding gambling promotion in the country, so locals are used to creative advertising. Meanwhile, it is expected that the government will implement corresponding restrictions to tighten the possibilities for such popularisation freedom.

Affiliates proved to be the most effective with the following channels:

• various gambling-related blogs;
• platforms that review games and sites;
• targeted campaigns for acquiring organic traffic.

Currently, operators have no worries about using all available means to attract solvent clientele to their platforms. Meanwhile, customisable and scalable affiliate campaigns remain at the peak of advertising efficiency and support both acquisition and retention rates.

Platform Reliability in the Region

Chile presents multiple opportunities for operators globally to target locals with various gambling formats. This leads to relatively high competition for mediocre projects. In order to stand out among the diversity of other businesses, entrepreneurs have to ensure they acquire only the strongest software solutions that align with their brands and operational aspirations.

The appropriate design and relevant functionality are the most critical aspects. However, a variety of bonuses and jackpots with gamification tools for player retention are obligatory in the Chilean environment. Since the country is only on its way to establishing a strong regulatory framework, constant monitoring of any legal issues regarding software is also integral.

One of the most efficient ways of acquiring proper content is to connect with a proficient service supplier. Online Casino Market partners with the industry’s leading content creators and can set up a library of relevant and fully certified titles for the operation in Latin America and specific regions in particular.

The Main Things about the Chilean iGaming Environment

Forward-thinking entrepreneurs continuously look for the most auspicious opportunities for legal earning. Latin America is one of the quickest developing regions that presents its market participants with favourable conditions for the establishment and progress. This is particularly evident in terms of the gaming sector formation.

How Chilean business possibilities welcome operators:

• The establishment of the niche dates back to 1994 with the selection of Superintendencia de Casinos de Juego as a primary regulator.
• A large population (almost 20 million people), substantial internet penetration (94%), and an enormous number of mobile devices (equivalent to 150% of residents) are excellent prerequisites for the iGaming niche.
• Operators should look up to Law 19.1995 and Bill 035/2022 for the legal boundaries of online gambling.
• Official licences from commissions of Curacao and Kahnawake are the most suitable for the Chilean environment, while Mastercard, Skrill, and Bitcoin are the top financial systems to use.
• Affiliate marketing is the most effective way to popularise the iGaming brand, providing the platform utilises relevant software for user engagement.

Online Casino Market has been closely monitoring the situation in South America and all specific regions in particular. Chile is a perfect opportunity to set up a profitable gambling site and start capitalising on the growing demand for progressive entertainment.

Order all the necessary software for the establishment of a functional gaming site in LatAm. Get in touch with Online Casino Market specialists and purchase turnkey solutions for the ready-made elaboration of the project in Chile.

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