Colombian gambling market in 2022

We´ve been analysing the recently released data of the Colombian gambling market in 2022 and we´ve found very confusing the articles published by the specialised media. Most of them only publish it with data in Colombian Pesos (not showing conversions to EUR or USD) plus the terms used are somehow confusing as well.

For example, there is no mention to GGR, but to “collection” (recaudo in Spanish). I´m assuming that that´s the GGR of the market.
Colombian gambling market 2022

GGR, wagers and operator´s margin

According to those news, in 2022 the online gambling sector in Colombia had a GGR of 52 million euros (approx, after converting it from Colombian pesos. Official data: 255.376.000.000 pesos).
Then we have the “wagers” data: 26.883 billion pesos (26.883.000.000.000 pesos). That´s 5.458.867.292,08€ (5.4 billion euros).
So we would have 5 billion euros in wagers for a GGR of 52 million euros, hence a margin of 0,95% for the operators.
In Spain, a country with a similar population (52 million people in Colombia and 47 million people in Spain), 2022 GGR was approx 950 million euros (DGOJ still hasn´t published data of Q4 but that would be the total GGR pro-rating with the rest of the quarters) and it had 27.300.000.000 in wagers.
That´s a margin of 3,50% approx for operators, more than triple than the one in Colombia.

Operators in Colombia

In Colombia there are just 16 operators operating online gambling and according to different sources, two of them (Betplay and Wplay) have over 70-80% of the market-share (combined).
Rushbet, Zamba and Rivalo should be the other operators in the Top-5 and then, we have the international operators that recently entered the market, Bwin, William Hill, Betfair and Betsson.
I´m assuming that it will be a very tough market for them, but with the huge financial muscle that they have, I´m sure that they will soon gain some market share.
But I would not discard that some of them could leave the market as well, as it has happened with other operators like AquíJuego, Masgol, Mijugada or Apuestalo.
You can find here more information about the Colombian gambling regulation.
Eduardo Miranda

Eduardo Miranda

Eduardo is the founder of Itzitip Consulting. ​He has worked in the gambling industry for more than 11 years, in different positions within different companies.

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We are not lawyers, nor fiscal or legal advisors and our blog posts are just our thoughts and considerations regarding the different aspects of the gambling regulations and activities.

English is not our mother tongue, so please excuse typos and grammar errors.