If Chile were to regulate online gambling and implement the required laws involving taxation and advertisements, the business would be overjoyed.
A new statute on the regulation of internet betting has been passed in Chile. The proposal has been floating about since March of last year. The gaming sector applauded the bill's progress but noted that it still needs more approval.
At the time of publication, Lotera de Concepción, Polla Chilena de Beneficencia, and Teletrak were the only formally sanctioned gambling operations in Chile. The Internal Revenue Service (IRS) now has the authority, according to March's new regulations, to bar unregulated offshore businesses like sportsbooks from the simplified tax framework.
Online Gambling Legislation
According to baseball betting picks experts, the Chamber of Deputies later recommended a ban on partnerships between bookmakers and betting agencies. The internet sports betting business, for example, was already a sizable part of the landscape in local sports. But with the new law in place, internet sportsbooks would have legal ground to stand on in Chile.
If Chile does decide to legalize online sports betting, it would likely use a centralized and non-competitive system to distribute licenses. On the other hand, players will be issued ID cards before they can start betting, streamlining the process of identifying problem gamblers and preventing them from harm.
Finally, only legitimate businesses will be able to advertise in Chile, and those that continue to sell counterfeit goods will face sanctions.
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