Colombia new esports bill set to boost betting in the country

Colombia’s online gambling industry is on the brink of a major transformation as a new esports bill moves closer to becoming law.

The legislation, known as Law Project 026 of 2024, recently cleared the Senate and now awaits presidential approval. If enacted, it will officially recognise esports as a sporting discipline, integrate it into Colombia’s National Sports System, and open the door for regulated esports betting.

Industry leaders are hailing this move as a game-changer. Marco Emilio Hincapié, President of Coljuegos, the country’s gambling regulator, emphasised that the bill will diversify betting options and drive growth in the regulated market.

“Esports now has legislative support. We understand that this is both the present and the future, and we won’t be left behind in the face of technological progress,” Hincapié said.

The expectation is that esports will attract a younger, tech-savvy audience and inject fresh energy into Colombia’s already dynamic online betting sector.

The new law doesn’t just stop at betting. It also provides a framework for creating esports clubs, leagues and federations, allowing for public funding to support cyber-athletes and talent development programs.

This institutional backing could help Colombia send its best players to international competitions, further raising the country’s profile in the global esports arena.

The timing is crucial. Between January and March 2025, Colombia’s licensed online platforms recorded more than 4.6 trillion pesos in bets, with sports events dominating the action.

However, the industry has faced recent headwinds, such as a new 19% VAT on online gambling deposits that has led to a sharp drop in gross gaming revenue and concerns about driving players to unregulated markets.

By broadening legal betting options to include esports, the government hopes to counteract these challenges and sustain growth.

As Colombia prepares to embrace the future of betting, the new esports bill could be the catalyst that revitalises the industry and positions the country as a regional leader in both gaming and gambling innovation.