Colombian Gambling Revenue Surges 99.3% in First Half of 2021
Colombias gaming oversight body, Coljuegos, has issued a report revealing that the total income from the gambling sector in the initial six months of 2021 reached 19.48 trillion Colombian pesos (roughly 36.8 billion pounds/42.9 billion euros/50.3 billion dollars).
This figure signifies a 99.3% surge compared to the sales of 9.77 trillion Colombian pesos in the first half of 2020.
The regulatory body also declared that online gambling expanded by 148% year-over-year in the initial six months of 2021, while online gambling revenue for the entirety of 2020 was 8.30 trillion Colombian pesos (approximately 15 billion pounds/18 billion euros/21 billion dollars).
Jhon Jairo Altamiranda, Vice President of Commerce at Coljeugos, stated at the GAT Expo that he anticipates this expansion to persist in the latter half of the year.
“We anticipate that this pattern will continue at the same rate of sales in the second half of 2021, establishing itself as a significant advantage for our industry in the marketplace.”
Cesar Augusto Valencia Galiano, president of Coljuegos, who assumed office in November 2020, discussed how the industry has been impacted by the novel coronavirus (Covid-19) pandemic.
“We have encountered challenging times, we have faced uncontrollable factors that have influenced the industry,” Galiano remarked.
In this scenario, we’re collaborating with associations and administrators to stimulate economic revival.
Galliano highlighted that the market dominance of sports wagering has dwindled over the past twelve months due to the suspension of athletic competitions. However, the appeal and market share of random number generator (RNG) games have surged.
“The influence of the cancellation of national and international athletic events has led to a substantial rise in participation in RNG games,” Galliano elaborated.
“Consequently, dedicated online gaming enthusiasts had no alternative but to shift their focus to RNG games, augmenting their market share.”
Last week, Coljuegos conducted raids on seven illicit gambling establishments.
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