Chile’s legislative landscape witnessed a pivotal development in December 2023, as the Chamber of Deputies approved a Bill to regulate online gambling.
However, progress has been stymied in the Senate, with Cecilia Valdés, President of the Asociación Chilena de Casinos y Juego (ACCJ), characterising the process as “slow and fragmented.”
The Senate Finance Committee’s deliberations have been hindered by discord over tax, institutional and enforcement matters. Despite assurances from authorities, the Bill’s advancement has been stagnant for over a year.
Valdés points to the removal of the Bill’s urgency status as a sign of waning commitment from both executive and legislative bodies.
The legislative impasse is compounded by technical challenges, a lack of consensus, pressure from informal market actors and legal ambiguities that have led to inconsistent judicial rulings. Valdés suggests that 2025 could be a realistic target for the Bill’s enactment, although she cautions that election-year dynamics might further delay proceedings.
Given its strong digital engagement and vibrant betting culture, Chile’s regulated market potential is substantial. Valdés envisions Chile aligning with Brazil and Peru, fostering significant revenue and adhering to responsible gaming standards.
According to a Yield Sec study, the market could reach a valuation of US$3.1bn, with potential annual tax revenues of up to $800m.
