Most Popular Bookies in Chile

Betting has always been a popular pastime among Chilean sports enthusiasts. With the introduction of online betting, the people of Chile can now bet on almost every sport out there. And while many people consider betting a money-wasting activity, no one can deny the ever-increasing popularity of betting in Chile and the world at large.

It is worth noting that there are no specific online betting laws in Chile (even though online betting appears to be prohibited), so punters in the country have been gambling at foreign betting sites as long as such sites are willing to accept them. And the good news is that the Chilean government does not seem to be pursuing the citizens who choose to bet online.

Most Popular Bookies in Chile

One reason why online sports betting is popular in Chile is the fact that bettors don't need to visit a physical betting joint. With a smartphone or tablet, they can log in and place a bet from wherever they are. Isn't that super convenient?

But there are other reasons why sports betting is such popular in Chile. The number of sports one can bet on online is big. From football, tennis, and horse racing to basketball and everything in between, punters are always spoiled for choice. And most sportsbooks offer bonuses to Chileans, wow!

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History of betting in Chile

History of betting in Chile

Chile is one of those countries with a long gambling history, and sports betting occupies a significant portion of that history. For many years, Chileans have been able to wager on sports through, in essence, a state lottery. In fact, the only betting on horse racing was the only form of betting allowed in the country prior to 1990.

Essentially, this was done as pari-mutuel betting on track. And while this served many betting enthusiasts in Chile, there was always an appetite for betting on other sports, such as football. As a result, some operators started taking bets on football illegally.

After the 90s

The Chilean sports betting market was in turmoil until 2008, when lottery operator, Polla Chilena, decided to seek permission from the Chilean authorities to offer fixed odds betting; that was in 2008. Partnering with GTech, a gambling tech firm, the operator was able to establish at least 2000 sports betting joints in Chile.

The operator was allowed to take bets on a wide range of sports, including football. This came as a sign of relief for Chileans who preferred betting on other sports other than horse racing. With so many options to choose from now available, betting would surge in popularity, prompting the Chilean government to regulate the industry.

According to the legislation enacted in 2005, all gambling landbased betting operators in Chile are subject to a 20% taxation to ensure they play by the rules. Those who don't play by the rules risk having their license withdrawn. And while this is one of the harshest taxation policies in South America, the operators have continued to reak in profits year-in, year out. Hence, there are signs sports betting may continue to grow.

History of betting in Chile
Betting nowadays in Chile

Betting nowadays in Chile

While there are landbased sportsbooks in Chile, the internet has become a real threat to these gambling establishments. With online sports betting now booming, it may just be a matter of time before Polla Chilena closes down its premises (hopefully, that will not happen).

As explained earlier, online sports betting comes with a package of benefits, including convenience, bonuses, and a wide range of games to choose from. Indeed, no Chilean punter would overlook these perks. Yes, there are no licensed online betting sites in Chile, but the number of offshore bookmakers accepting Chileans is overwhelming.

It is worth mentioning again that the legality of online sports betting in Chile is not clearly defined, and the Chilean government does not prohibit it outright. Those found betting online are not subject to any penalties ether. Rather than pursue outright prohibition, the government seems to focus on regulating the industry.

In fact, several proposals to license locally-owned Chilean betting sites have been put forth, so punters would be keeping their fingers crossed for a substantive outcome. Meanwhile, Chileans are free to visit Chilean-friendly offshore sportsbooks and bet on the games they want. There haven't been any efforts by the government to block these sites from operating in the country.

Betting nowadays in Chile
Future of betting in Chile

Future of betting in Chile

With no prohibitive laws to tame offshore betting sites in the country, one could only guess that these sites will continue to mushroom as long as Chilean punters are willing to bet. But what happens if the efforts to regulate the betting market bear fruits?

Well, it is widely expected that any regulatory attempts will favor local-owned sportsbooks. However, international bookies will still be popular thanks to their exceptional services, which may not be matched by local bookmakers. But anyway, these are just projections.

Future of betting in Chile
Betting legislation in Chile

Betting legislation in Chile

Chileans benefit from some of the most gambling-friendly legislation in South America. In fact, offline gambling has been permitted in the country for more than a century. There are many gaming establishments across the country where gamblers can bet on lotteries, horse racing, and casino games. Lotteries in Chile are run by Lotería de Concepción and Polla Chilena, companies owned by the state. The two companies have a monopoly over all lottery games and a limited number of games of chance.

When it comes to online gambling, the situation is different. The 2005 legislation (Law Number 19.995) technically outlawed online gambling. Nonetheless, many Chileans continue to gamble online at foreign betting sites.

Betting legislation in Chile
Betting acts in Chile

Betting acts in Chile

Law Number 19.995 (Ley Num. 19.995) was enacted in 2005 and is responsible for most of the country's betting laws. This law allows brick-and-mortar betting establishments in Chile and creates the licensing framework under which they operate.

It provides that a maximum of 24 gaming establishments may be awarded operating licenses inside Chile. In its own words, the body is responsible for the authorization, administration, and supervision of physical betting premises. It gives the state the right to authorize or deny bookmakers in the country.

Ley Num. 19.995 also created the Superintendencia de Casinos de Juego (SCJ) to oversee the betting industry and issue licenses to bookmakers. Under this law, the SCJ basically functions as the gambling commission of Chile. This is the licensing agency and final adjudicator of all things pertaining to gambling in Chile, which is the final arbiter of all forms of gambling. On top of Law Number 19.995, the Chilean betting industry is subject to a variety of decrees (e.g. Decree No. 547) emanating from the Ministry of Finance for additional regulation of the industry.

Betting acts in Chile
Chilean player's favorite games

Chilean player's favorite games

Chileans enjoy betting on a variety of sports, and topping the list is football, which is also the most popular sport in any betting nation. Football presents Chileans with odds on various top-flight leagues and tournaments, including the English Premier League, the Major League Soccer, Bundesliga, and La Liga.

Chileans know that football also comes with a wide range of markets, allowing players to invest their money where they think they have the best chance. With most sportsbooks also allowing Chileans to bet on live matches, football betting has never been more popular in the country. What makes football betting even more popular is the fact that football matches are always going on; it doesn't matter the season of the year.

Another favorite sport for Chilean punters is horse racing. As mentioned earlier, this is a very old sport, and Chileans have been betting on it for at least a century. Horse racing also comes with a wide range of markets, and horse racing events to bet on are available at almost every major betting site in Chile. Other sports that command popularity among Chilean bettors include tennis, rugby, basketball, cricket, and golf. But there is also a sizeable betting constituency that loves baseball, volleyball, and mixed martial arts.

Chilean player's favorite games
Payment methods in Chile

Payment methods in Chile

Like other betting sites, Chilean betting sites prioritize reliable and trustworthy payment systems. The sites understand that no Chilean punter in their right mind would choose to deposit or withdraw funds with a payment method whose reputation is questionable. As a result, the sites choose payment processors wisely, knowing that this can be a deal make or breaker. For instance, the bulk of Chilean betting sites allows punters to use credit and debit cards, with VISA and Mastercard being the most used cards. These cards have stood the test of time, and they are globally accepted.

In addition to debit and credit cards, online payment systems, such as e-wallets are also available at Chilean betting sites. Neteller, PayPal, and Skrill are some of the most popular e-wallets, and they are widely used in the country. First of all, e-wallets are fast.

Of course, the best payment method for punters is one that supports instant payments since a punter may want to deposit money into their betting account and place a bet within a few minutes to kick-off. If funds do not reflect in their account immediately after completing the transaction, the punter may miss out on that bet. In terms of security, e-wallets shine even brighter.

Payment methods in Chile
FAQs

FAQs

Is online betting legal in Chile?

Online betting is technically illegal in Chile, and there are no locally-licensed sportsbooks for Chilean players. However, the government of Chile does not prosecute Chileans who bet at international sportsbooks operated from foreign jurisdictions.

Are online betting winnings taxed in Chile?

No. The government of Chile does not tax winnings on online sports betting because there is no legal framework to do so. However, the government may consider taxing winnings in the future if the industry becomes regulated.

What are the most popular sports for betting in Chile?

Chileans have a wide range of sports they like to bet on. However, the most popular ones include football, horse racing, cricket, rugby, tennis, and basketball.

How can one find the best sportsbook in Chile?

The best sportsbooks in Chile should be properly licensed in their Jurisdiction and must offer reliable and safe banking methods. Other factors to consider include better odds, good customer support, and mobile compatibility.

What bonuses are available for Chilean punters?

Chilean punters are entitled to a wide range of bonuses, including free bets and free money. The bonus type depends on the sportsbook where one is betting at.

FAQs