Colombia has been standing out in the Latin American sports betting scene after years of discussing regulation for the sector. As a result of joint work between the private sector and the government in the search for the implementation of the activity in the country, it has become an example that attracts the attention of several jurisdictions that discuss the segment.
In an exclusive conversation with the GMB, Evert Montero Cárdenas, president of Fecoljuegos - Colombian Federation of Entrepreneurs of Games of Luck and Chance-, said that the understanding between the regulatory body and the private sector was fundamental for the country to become a power in the area of sports betting.
GMB – How did Colombia get to this point, being a reference in the sports betting area in Latin America?
Evert Montero Cárdenas – It was a joint work done with the regulator in Colombia. The success was due to the fact that the private sector – entrepreneurs and operators – was able to build the entire process and regulation together with the national government. I believe that was part of the success. It was a difficult path, but one of understanding to find commonalities between the private and the public sector. Finally, looking for this industry to give the results and generate the resources that are so important to us, which mainly go to the health sector.
Everyone in Latin America points to Colombia as an example. Peru recently prepared its legislation, Chile is on the way and Argentina has done the samet. Meanwhile, Brazil continues to wait for regulation. How do you see the Brazilian market and the possibility of regulating betting in Brazil?
It is wonderful. The exercise being carried out at this fair is very valid, in which the government and the private sector participate in this joint and continuous construction. There is something that plays against the activity and that happened with us in Colombia, which is the time. Governments are very slow and time consuming to regulate. This affects not only legal entrepreneurs who want to generate resources for states and nations. This complicates the activity of the sector and I believe that time plays against it, but there is great interest on the part of the Brazilian government in regulating and moving forward with the sector.
Was Fecoljuegos called to give opinions and show Brazil what it was like in Colombia?
Undoubtedly. We were one of the main actors. Fecoljuegos was at the forefront of the discussions when work began on the issue of minutes to conquer legislation and regulations. We made more than 250 observations on the initial documents and from all these observations it was possible to build a good regulation. It needs to be improved day by day as new things emerge and technology changes, and new game offerings and possibilities come out on the market. So, everything is being adjusted and we are always thinking about improving the industry of gaming. We are now working towards creating self-regulation in terms of advertising and commercial communication. We are also working on sporting integrity and keeping an eye on other industries to add trends that are currently in the world in light of what has developed.
But what about in Brazil, did you give any suggestions about what is happening today?
Brazil is wonderful and I believe it is one of the most important markets for the whole world. I believe that the tranquility that the country can have is to offer a regulated, serious and transparent market, with social responsibility. Brazil is a very important market for this industry so we are all looking forward to seeing how we can participate, collaborate and support it. I'm sure the regulation will turn out very well.
Source: Exclusive GMB
