Player winnings are also subject to a 15% withholding tax. Effective from 1 July, operators have six months to update their systems in order to comply with the new regulations.
This has prompted 65 companies to register with the Internal Revenue Service (SRI), Damián Larco said in an update to local broadcaster Teleamazonas this week. Most of these operators are local, with two international companies among the numbers Larco said.
However, Larco believes that the total number of active operators is far higher than the 65 that have registered. SRI is monitoring the market to ensure offshore operators apply for licences. If they fail to do so, Larco says offshore operators’ IP addresses will be blocked.
Ecuador gambling tax rises not putting off some operators
Land-based gambling has been prohibited in Ecuador since 2011, although there isn’t a specific ban for sports betting.
In 2024, there have been discussions about lifting the ban on brick-and-mortar venues and introducing a new regulatory framework for Ecuador gambling.
President Daniel Noboa initially included a question on introducing gambling regulation in a public consultation. However, the question was withdrawn after civil unrest in the country amid battles with drug cartels.
Source: iGB
