Is Online Sports Betting Legal in Colombia?
Colombia is one of the most progressive countries in South America when it comes to online gambling. The government spotted an opportunity to work with Colombia sports betting sites and generate millions in tax revenue. This led to online gambling being legalised in the country in 2016.
The passing of the eGaming Act saw the Coljuegos become the government’s regulatory body for the online gambling industry. Any online gambling sites that wishes to operate legally in Colombia must follow its strict procedures to protect players at all times.
The early success of the legislation prompted further relaxation when online sports betting exchanges and virtual sports betting were legalised in 2017. The move to legalise the industry has proven very successful for Colombia, with online gambling revenues from licensees alone in 2019 increasing by 106.3% to $19.6 million.
Although international sports betting operators do not fall under the Coljuegos, there is no law that forbids the country’s residents from accessing them. However, some foreign betting sites that accept Colombians have been blocked by ISPs. The good news is that most major online bookmakers can be accessed safely and securely in Colombia, so you certainly won’t be stuck for options.
What Do the Best Colombian Betting Sites Offer?
At SBO.net, our expert review team has racked up decades of experience betting online. It means you can have confidence that we are only recommending Colombian betting sites which follow strict criteria, giving you the best and most secure online betting experience possible.
Popular Payment Methods at Colombian Betting Sites
Thanks to legalised online sports betting in Colombia, you can take your pick from a wide range of payment methods. All are fast and secure, with little or nothing to pay in fees.
Credit and debit cards
The most common credit and debit cards are issued by Visa and Mastercard. Colombians love to pull out their cards and enter their digits at online betting sites because they make it so quick and easy to fund their accounts. Another advantage of using credit and debit cards to deposit at Colombian betting sites is that you can easily withdraw your winnings back to the card you used to deposit.
E-wallets generally present an instantaneous way to fund sports betting account. Once you have loaded an e-wallet like Skrill or NETELLER, the funds can be transferred across to your betting site at the speed of light. You can also withdraw to your e-wallet, so your bank does not even need to know the cash came from a sports betting site. This is a major benefit if you wish to bet at multiple sites.
Many Colombian betting sites now accept cryptocurrency as a form of payment. The distinct advantage of using cryptocurrency is that transactions are fast, cost-effective, and state-of-the-art security protocols ensure your funds are safe. Bitcoin betting has exploded in popularity, but plenty of betting sites also accept alternative cryptocurrencies like Ethereum or Litecoin.
Mobile Sports Betting in Colombia
One of the many joys of online sports betting is spotting an opportunity and placing a bet fast. It’s no good carrying a laptop around, just in case you need to place a bet. Instead, you should be able to use your smartphone or tablet.
The convenience of mobile betting apps is obvious: you can place your bets anywhere, anytime.
The Colombian betting sites recommended on this page all have dedicated mobile apps. Sites without official apps have been developed using HTML5 technology, meaning you can place browse and bet directly in your web browser. Sports betting apps also make life easy when it comes to live betting.
Live betting means you don’t just have to predict the result of a football match or sporting event. Instead, changing odds will be offered in-play, shifting as time goes by.
It’s far easier to pull out your smartphone when you spot a betting opportunity rather than waste time firing up your desktop or laptop. By the time you do that, the odds may very well have changed and that bet you wanted to place may be suspended, or the odds have changed so drastically that it isn’t even worthwhile placing your bet.
Is the Colombian Peso Accepted at Sports Betting Sites?
Although some of the local sports betting sites will accept the Colombian peso (COP), most international betting sites will not. It is much easier for customers to convert to another currency first, with many sites preferring main currencies such as the British pound, Euro or US dollar.
What Are the Most Popular Sports to Bet on in Colombia?
Colombians are passionate about sport. Like the rest of the South American continent, football remains the most popular sport to watch and bet on. Cycling and baseball also attract a lot of attention at the top sports betting sites in Colombia, and you’re about to discover why.
Although the Colombian national team is starved of success, it did reach the quarter-finals of the World Cup in 2014. The main domestic league in Colombia, Categoría Primera A, remains popular. A total of 20 teams battle for glory each season, including Millionarios and Deportivo Cali.
Outright betting opportunities include predicting who will win the league and which player will score the most goals. Numerous markets are offered for every fixture, including match result, first goal scorer, number of bookings and total goals. In-play betting adds further opportunities to profit.
Colombia has produced world-class cyclists, and following the fortunes of road cycling stars is a national pastime. Chaves, Gaviria, Quintana, Uran and now Egan Bernal are just some of the names that mix it up on the pretisgious grand tour events like the Tour de France and the Giro d’Italia. Bernal became the first Colombian to win the Tour de France in France in 2019.
When it comes to betting on cycling, the main markets are event winner and individual stage winner. The biggest sites also offer odds on sprint and King of the Mountains jersey winners.
Baseball is popular throughout Colombia. Sports betting fans can often find betting markets on the domestic Colombian Professional Baseball League (LCBP). However, there is also a lot of interest in Major League Baseball (MLB) in the US. You can bet on these baseball leagues at our recommended betting sites for Colombians. Markets include match winner and the total number of runs scored.
Colombia Betting FAQs
Yes! Online gambling has been legal in Colombia since the introduction of the eGaming Act in 2016. In 2017, the legislation extended to cover sports betting exchanges and betting on virtual sports. Read this page to discover the best Colombian betting sites and everything else you need to know.
The Coljuegos is the regulatory body responsible for licensing and monitoring gambling websites in Colombia. All primary forms of online gambling, including casinos and sports betting, are covered by the body. The body’s role is to protect customers and raise tax revenue for the government.
There are many ways to fund betting sites in Colombia. The most common method is using Mastercard or Visa-branded debit or credit cards. E-wallets like Skrill or Neteller are also popular options, while many betting sites now accept cryptocurrencies like Bitcoin and Ethereum.
Colombian sports betting customers do not pay taxes on winnings. However, the Coljuegos – the regulatory body responsible for online gambling – does tax the revenues generated by betting sites.