Tomás Yelmini
As it happens in the United States, online sports betting in South America is also growing rapidly, and Chile is a country with an increasingly enthusiastic market. Therefore, today we bring you all the new details about sports betting in Chile.
Since we have already mentioned and developed in depth that sport betting is legal in Chile, we now bring you this report that will provide an update about the online sports betting situation in Chile in January 2023. So, be ready to find out more about it below.
What Is the Situation of Sports Setting in Chile in January 2023?
In March 2022, the then President, Sebastián Piñera, proposed in his last week in office an initiative to regulate the licensing of remote betting operators in Chile, better known as online betting.
The initiative was not discussed until last August, when the Undersecretary of Finance requested an extension. All this happened because the Executive Office, headed by the current president Gabriel Boric, wanted to add some indications and initiative to be part of a tax reform. The purpose of all this is to add the online betting activity in Chile to the corrective tax project.
This means that the operating companies and the platforms will be under the supervision of the new Casinos, Betting and Gaming Superintendency. Under this regulation, those companies and platforms will be paying specific taxes, such as 20% on gross income for operating companies, 15% for users, and 1,000 Monthly Tax Units (UTM) for general and special licenses. With all this, the Government intends to raise $50,000,000 per year.
Currently, the only legal sports bets in Chile are La Polla Chilena and Carrera de Caballos, which are regulated by the Casino Law No. 19,995 of 2005. That law regulates all physical casinos in the country, and grants them a 15-year license to operate in the country.
Is it possible to bet online in Chile in 2023?
Yes, because although there is no law regulating the activity of online sports betting companies based in Chile, bettors can still enter and bet on foreign sites.
According to Chile’s Gaming Casinos Superintendency, there are around 900 betting sites that local bettors can access for online betting.
Additional information
Now you have all the updated information regarding sports betting in Chile in 2023. Moreover, it is expected that this year the new law regulation will finally come out, so we advise you to follow closely our News section to find out what is happening.
In the meantime, you can read the following articles about these safe sportbooks so that you can place your bets and take advantage of good sign-up bonuses!
- Professional Basketball in Chile
- Chilean Soccer League Betting: early predictions for season 2023
- Top 5 Best Chilean Golfers to Watch in 2023 and Beyond
- Top 5 Best Chilean Tennis Players to Keep an Eye On in 2023
