To start an online casino in any Latin American country, operators should comprehensively explore local culture and customs, legislation, audience demands, etc. Chile boasts one of the region’s most flourishing iGaming segments and requires entrepreneurs to have deep knowledge and a thorough approach to open a successful niche project.
Casino Market’s team has prepared an informative guide on how to launch a lucrative online gambling business in Chile. At our studio, you can order the development of an RMG startup on a turnkey basis.
Gaming Market’s History and Current State
Let us dive into the chronology of the local industry’s establishment:
- 1852 — the introduction of the 1st gambling laws for some amusement categories;
- 1930 — official opening of the 1st ground casino in the country;
- 1994 — the foundation of The Gaming Club, Microgaming’s website serving Chileans, among other users;
- 1995 — the emergence of regulations for slot machine halls, betting and lotteries;
- 2005 — the update of the existing rules for supervising 24 physical RMG projects.
The state was among the 1st across Latin America’s territories to accept online gambling portals. Its digital realm is more progressive than that of other regional countries. About 17.7 million citizens (over 90% of the entire population) can access the Web. The absolute majority of residents have smartphones and other portable gadgets with internet connectivity.
Local gambling is regulated by an established authorised body called Superintendencia de Casinos de Juego (SCJ). Its primary duties comprise ensuring responsible and fair gaming practices. As of 2024, over 900 operators are involved in the market, generating about $150 million annually.
Chile’s economic prosperity and growth contribute to its iGaming segment’s success. The state’s population is nearly 19.6 million, and around 88% of it inhabits urban areas. The GDP per capita reaches $15,095, which is the 2nd-highest figure on the South American continent.
Legal Nuances for Entering the Chilean Jurisdiction
The current situation is similar to Brazil’s, with slight differences. The country made a few attempts to improve sector regulation and increase foreign investment. As of now, land-based gambling is managed by the provisions of Law 19.1995. Nevertheless, the document does not apply to internet amusement portals.
For many years, offshore brands have been offering their services to Chile’s punters without paying taxes to the country’s treasury. Thus, the government decided to fill the regulatory gap by introducing Bill 035/2022, which would set a legal framework for web casinos and sportsbooks.
The draft law included the following points:
- setting the fiscal rate of 20% on operators’ gross gaming revenues;
- prohibiting digital entertainment platforms from providing lottery products;
- presenting rules for supervising online RMG activities and ensuring compliance;
- requiring bookmakers to pay 2% of annual GGR to the National Sports Federation;
- spending no less than 1% of niche companies’ revenue on fostering responsible play initiatives;
- issuing 5-year licences, offering the opportunity to renew them with temporary 6-month permits.
In 2023, the bill was approved by Chile’s Chamber of Deputies, specifically its Economic Commission, and addressed to the Senate. Nevertheless, the state’s monopolies blocked further progress.
Although the document has not been passed, that move underlined the government’s commitment to finding ways to establish a decently regulated iGaming sector. It aims to create a transparent business sphere and protect players. Considering the recent worldwide boom in gambling supervision, those interested in Chile’s online RMG market may expect new positive prospects to arise.
Currently, land-based wagering projects operate under SCJ licences. Entrepreneurs looking for ways to enter the digital segment resort to international permits. Among the most requested options are certifications from Curaçao’s and Kahnawake’s commissions.
Widespread Payment Systems for Gaming in Chile
Citizens prefer both new and popular financial methods for deposits and withdrawals. They care about safety and variety, so an operator must prioritise offering a vast range of secure services.
Chilean punters often choose the following payment options:
- Visa;
- Skrill;
- Neteller;
- AstroPay;
- MuchBetter;
- MasterCard;
- PaysafeCard;
- Red Compra, etc.
A lot of RMG software providers working in the country support the listed systems, so it will not be hard for entrepreneurs to find and buy suitable products. These gateways are widely known for their ability to streamline operations, minimise expenses, and deliver a reliable and well-protected environment to gamblers.
Cryptocurrencies also confidently pave their way in the local sector:
- Fintech Law’s approval. The document was passed at the beginning of 2023 and notably fostered the position of tokens in the state’s economy. Virtual money was acknowledged as a valid payment asset.
- Residents’ support. Legalisation has led to broader usage of digital currencies. Just a year after the law’s passage, they became the 3rd-favourite investment type among citizens.
- Central Bank’s backing. Even before 2023, crypto options were actively gaining recognition across offshore iGaming platforms. However, the official approval of a reputable institution accelerated the niche’s growth.
- Perspectives for operators. Business people who are willing to work in the country can launch crypto-focused or hybrid projects. The most popular tokens among Chileans are Bitcoin, Ethereum, Cardano, Dogecoin, and Litecoin.
The country continues to develop, offering broader possibilities for entrepreneurs with each passing year. With such a tempo, more business people will be interested in the jurisdiction. Those who explore and enter the destination now win more.
How to Legally Advertise Web Casinos in the State
The market faces several restrictions related to business popularisation, similar to those in other Latin American jurisdictions. There was a risk that Bill 035/2022 could imply even stricter rules, censoring or even cancelling gambling advertising. Nevertheless, since the document has not been approved officially, brands can still market their services under old standards.
Operators are advised to engage with affiliate networks. This promotional method works great in other countries with rather harsh regulations, so it can be of impressive benefit to Chilean companies as well.
Besides advantages related to compliance, partner marketing has the following strengths:
- diverse cooperation formats;
- access to various markets globally;
- quick and visible feedback from clients;
- the possibility of paying for a specific result;
- leveraging influencers’ reputation and popularity;
- the availability of tools for tracking performance, etc.
The Main Things About Running iGaming Projects in Chile
The state boasts one of the most flourishing digital gambling segments across Latin American territories. This factor is justified by the destination’s stable economic growth, the government’s commitment to legalising transparent web activities, and the high demand from local players.
Let us review the central notions from the article:
- The state was among the 1st in Latin America to accept online gambling. Its digital realm is more progressive than that of other regional countries.
- Local gaming is overseen by a reputable authorised body called Superintendencia de Casinos de Juego (SCJ).
- Currently, land-based operations are regulated by the provisions of Law 19.1995, which was updated in 2005.
- Entrepreneurs looking for legal ways to enter the online segment usually obtain international licences, especially from Curaçao and Kahnawake.
- Chileans often choose Skrill, Neteller, Red Compra, MuchBetter, MasterCard, and other payment gateways. Cryptocurrencies like BTC, ETH, ADA, DOGE, and LTC are also viral.
- The best method of legally popularising iGaming portals in the country is initiating partnerships with trustworthy affiliates.
The jurisdiction shows promising signs of further development. With the worldwide legalisation boom, there is a high chance of officialising digital activities in the state in the near future.
Our experts constantly monitor the situation in different gambling markets and can help you launch a lucrative RMG startup in the most beneficial destinations.
We also provide slots and other amusement titles, assist with project licensing and promotion, install security systems, connect payment services, and perform other essential tasks. Feel free to contact the studio’s managers to learn more about cooperation formats and enlist the support of a reliable aggregator.
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