The iGaming market is always growing and expanding, creating new ways for players to indulge in online gameplay.
Colombian residents can look forward to even more gaming variety with Live Casino added to their iGaming offering.
Following the publication of enabling licensed online gaming, operators within the country can launch live dealer casino games.
New developments for iGaming in Colombia
The Live Casino regulations approved late in April were made public by Colombian gambling regulator, Coljuegos on Friday the 15th of May 2020.
The new regulations allow all licensed gambling operators to offer live casino games from casinos or studios within Colombia or based overseas. All games will first be sent to an approved testing house for approval and certification.
According to Coljuegos, the addition of live casino will complement the existing offering and promote visitation to land-based casinos. It will also assist in the battle against unlicensed operators targeting Colombian players with live casino offerings.
Relief during the COVID-19 pandemic
Coljuegos believes that the addition of live casino games in these trying times will be highly beneficial in terms of social distancing and adding to the Colombian health care fund.
The new regulations require that all Live Casino Games offer a return to player rate of at least 83%. Furthermore, all land-based venues taking part in the broadcast of such games must ensure that players who are physically present at a table cannot participate in the same game remotely.
Facing the opposition
The launch of live dealer games online has been met with great opposition from the land-based sector. Many land-based casinos have raised concerns that legalising live dealer games will drive players away from their respected establishments.
Coljuegos addressed these concerns by doing a thorough impact assessment where it was concluded there is little crossover between land-based and online players.
According to the gaming authority, the launch of live dealer casinos will have very little impact on brick and mortar casinos. In fact, the regulator stated it would drive more players to visit land-based establishments.
All land-based casinos get to stream table games such as Roulette and Blackjack live from their casino floors. All venues that don't have table games available can offer live dealer content via select terminals.
Live Casino to bring in more revenue during a time of crisis
With Colombia’s extended lockdown due to the novel coronavirus (COVID-19) revenue has dived.
Coljuegos reiterated that in this time where revenue has fallen due to a suspension of all major sports events, the live casino would ensure the gaming sector is able to generate funding for the country’s public health system.
The new regulations will come into effect once published in the government’s Official Gazette.
Both local and international providers may broadcast their games as long as the content meets the technical specifications set out by Coljuegos.
Industry-leading software developer, NetEnt, has already made moves to get into the market. Soon Colombian gamers will have access to a selection of their finest live dealer blackjack and roulette offerings at RushBet.co.