Chile: Economic Commission of the Chamber of Deputies approves the creation of criminal sanctions to regulate the correct operation of online betting platforms

From the Betsson, Coolbet, Betano and Latamwin platforms, they highlighted this legislative progress and emphasized that the recent decision of the Economic Commission will generate a modern and transparent regulation.

The Economic Commission of the Chamber of Deputies approved the articles that establish for the first time criminal sanctions for those who violate the regulations related to online betting platforms in Chile, in such a way that transparency and security in betting activities are safeguarded. virtual bets.

Article 40 establishes a new criminal type that punishes as a crime anyone who operates an online betting platform without having the proper operating license: "This approval is very important, since it confirms that the current operation of online betting platforms line is completely legal, beyond the obvious need for this regulation. If this were prohibited today, it would not be necessary to add a rule that prohibits it in the future regulation," said Carlos Baeza, lawyer representing the online betting platforms Betsson, Coolbet, Betano and Latamwin.

Ensure transparency

The Commission also approved article 22 a few weeks ago, a rule that expressly prohibits players, representatives and other figures who may influence the results, from betting on these platforms; guaranteeing conditions for the correct operation of this industry. Today, after the approval of article 39, the crimes against anyone who alters or modifies a betting object and, in the same way, against those who bet knowingly of that alteration, were established.

"This means that those who alter results or place bets with prior information about any change in the object of the same, will face sanctions," said Baeza.

This way, whoever alters or modifies any bet object, in its mechanisms for obtaining results, affecting the quality of its future, uncertain or unknown, will be sanctioned with the penalty of minor imprisonment in its medium degree and a fine of 15 to 20 monthly tax units.

"We are advancing in a legal framework that aims to avoid possible conflicts of interest in online betting platforms, thanks to the efforts of the Ministry of Finance and the Economy Commission," added the representative of the four bookmakers.

Next week, the Commission will continue to analyze this bill, addressing the tax burden that will affect the industry. With the indications introduced by the Treasury, Chile would have one of the highest tax burdens in the world. “We believe that there are very good reasons for this to be reviewed and corrected,” Baeza added.