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Colombia Generates $5.03 Billion in Gaming Revenue

Colombia Generates $5.03 Billion in Gaming Revenue
Colombia generated $5.03 billion in gaming revenue in the first half of 2021.
by Academia   |   comments 0

According to information recently revealed, Colombia generated US$ 5.03 billion in gaming revenue in the first half of 2021. The information was released by the country's own regulatory body, Coljuego, which confirmed that sports betting generated the amount of COP$ 19.48 trillion (US$ 5.03 billion) only in these first six months of 2021. The agency reported that, compared to the first half of 2020, it was an increase of 99.3%, since in the year in question, gaming revenue was $2.52 billion.

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Last week, the commercial vice-president of Colijuego, Jhon Jairo Altamiranda, revealed that the online games sector had a growth of 148% in this first semester, compared to the year 2020. Through this information, Altamiranda affirms that it keeps good expectations for the remainder of the second half of 2021: "We hope that in the second half of 2021, this manner continues with the same sales rhythm, positioning itself in the market as one of the great strengths of our sector."

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Meanwhile, César Augusto Valencia Galiano, president of the Coljuegos body, who took over at the end of 2020, also commented on how the gaming sector in Colombia is growing. Mentioning the difficulty encountered in the pandemic, Galiano said the following: "We have lived through challenging times where we have encountered uncontrollable aspects that have had an impact on this industry,". In addition, the president adds that, "In the midst of that situation, we work h and in hand with guilds and operators for economic reactivation."
Among other things, Galiano also points out that during 2020 the sports betting sector had suffered a severe downturn, as several sporting events had been cancelled. Thus, on the other hand, there was automatically a growth for random number generator games (RNG).
"As an effect of the cancellation of sporting events at a national and international level, a considerable increase was generated in the participation of RNG games", comments Galiano. "For this reason, players loyal to online games had no choice but to migrate to the RNG games, which increased their market share." It is worth mentioning that last week the Coljuego organization carried out an operation that brought down seven establishments that practiced games illegally in the country.
Commenting on the sport's industrial sector, Galiano said that the data collected by Coljuego showed that the market is following a satisfactory path. Thanks to this, Colombia has been able to reactivate the economy: "this is data that shows that we are on the right path in terms of economic reactivation and that, thanks to this performance, they can send greater resources to local health, since the rights reported operating costs by operators increased as a result of higher sales."
Furthermore, Galiano commented on overcoming a difficult period in the market: "We had to overcome adverse moments and variables that are out of our hands in order to move the gaming sector forward. For this reason, we will continue to work together on economic reactivation."
Finally, the president emphasized the importance of online gaming in this period, stating the following: "By opening up these betting figures by game category, it becomes evident that historically, betting on sporting events is the category with the highest share in the portfolio of authorized online games. So, today, sports betting accounts for 56% of total sales, casinos and virtual games for 35% and other types of games such as live casino for 9%."

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