The Chilean government expects to reap $84bn annually from a regulated betting market, which has secured the approval of the country’s Senate.
Senators approved the bill launching a regulated online betting and gaming market in Chile with 27 votes against three, while five Senators abstained from the vote.
Both the government and legislators want to take down a huge grey market which has proliferated in the country. The Senate asserts that over five million Chileans use this market, which in turn generated more than US$3.1bn in 2024.
The Ministry of Finance wants to see this market come under greater government control and scrutiny so that the revenue generated can be legally taxed.
