Colombia: Betting has grown 50% compared to last year

PayU, a leader in payment solutions in Latin America, studied the behavior of online betting in Colombia and its variation between 2023 and 2024. This increase highlights the preference of Colombian users for the use of digital platforms for their betting transactions, reflecting a significant change in consumer habits and the use of online payment methods.

Learn the most important data from the study

The number of payers in the betting sector has shown constant growth month by month, reaching 741 thousand payers in June 2024, an increase of 52.84% compared to the same month of the previous year. Likewise, this has been reflected in the volume of transactions, which reached around 3.5 million in June, an increase of 59.43% compared to June 2023; and in the total amount of transactions that increased by 46.83% in the same period, reaching over 175.8 billion pesos.

The daily transaction analysis shows significant variations, for example during the development of the Copa America and the Euro Cup. During these key dates, sports and betting enthusiasts demonstrated greater dynamism compared to the same period of the previous year, with increases of 50.83% in the number of transactions and 46.83% in the total payments made compared to the same period in 2023.

The daily transaction volume reached a peak of 348,301 on July 14, 2024, representing an increase of 66.10% compared to the same day of the previous year. The number of transactions in June 2024 grew by 59.43% compared to June 2023. At the same time, the total payment volume in June 2024 increased by 46.83% compared to the same month of the previous year.

In June 2024, a total of $175.8 billion pesos was recorded, an increase of 88.06% compared to June 2023, which reached $93 billion pesos. Although during this period of 2024 the average transaction was $50,000 pesos, lower than the average of $65,800 in June 2023, the increase in the total value is explained by the increase in the number of transactions, with around 3.5 million in June 2024 compared to 1.4 million in June 2023.

During the development of these important sporting events, the number of unique users reached 741,347, which represents an increase of 52.84% compared to June 2023, when 349,623 users were registered.

The analysis of the preferred payment methods reveals that 77.01% of betting transactions were made through PSE (Secure Online Payments), followed by credit cards (CC) with 22.96% and a minimal proportion in cash (0.02%). This indicates a clear preference for safe and efficient digital payment methods.

The average ticket has experienced fluctuations, registering a decrease of 31.07% in June 2024 compared to the same month of the previous year. Despite this decrease, the growth in the number of transactions and in the number of payers highlights an increase in overall betting activity.

The enthusiasm generated by the Copa América and Euro 2024 as well as the increase in consumer confidence in online platforms drove considerable increases in transaction and payment activity in betting in Colombia.