Emerging markets & culture
the Superintendence of Gaming Casinos. This regulatory body will be renamed Superintendence of Casinos, Betting and Gaming (The Superintendency). The Superintendence of Casinos is already an institution with a good reputation. The Bill amends it and gives it the authority to monitor and control online gaming giving it new tools to meet those objectives. At this stage there is confidence that it will be an effective regulator. The project establishes and regulates an Operating License regime that allows the exploitation of an Online Gambling Platform. Licenses that may be General or Special, as we shall see. Among the concepts or matters dealt with in the project are the following: 1. Betting Account The Bill establishes that bets may only be placed from a “Betting Account”. Each natural person may have only one Account in each Betting Platform. It establishes that payments to these Betting Accounts may only be made by a means of payment authorized by the Superintendency. The Bill prohibits operators from granting credit or loans to users of the same Online Gaming Platform. 2. Online Betting Platforms: two concepts are introduced by the Bill • Only those companies that have an Operating License may operate in Chile. • Platforms that, regardless of the location of the infrastructure that supports their operation or the country that hosts their domain or their system or servers, allow one or more users to place bets from the national territory, are understood to operate in Chile. 3. Operating Licenses The project considers two types of Operating License, the General Operating License and the Special Operating License. • General Operating License: is a license granted for a renewable term of five years. • Applicants must be incorporated in Chile as closed corporations, with a maximum of 10 shareholders, individuals or legal entities, and must have an exclusive purpose. They must submit an Operating Plan, provide a guarantee to cover the prizes to be determined by the Superintendency, and comply with the other requirements established by the Regulations and instructions of the Superintendency. • There is no limited number of licenses; all those licenses whose applications meet the requirements
will be granted.
• Special Operating License: is a license granted for single events or events that take place in a period up to 60 days. • Applicant companies must be incorporated in Chile as a capital company (S.A. or SpA). • They must present an Operation Plan. • They must provide a guarantee and other requirements to be established in the Regulations. • In neither case is there a limit to the number of licenses: all licenses will be granted to those whose applications meet the requirements. • There is no specific number of licenses: all those whose applications meet the requirements will be granted. • Licensees are not required to hold a physical Casino Operating License. 4. The Objects of the Bet Only gambling objects authorized by the Superintendency may be developed. The development of objects containing or transmitting graphics, messages or sounds that threaten public order, national security, the honor of persons, that are directed to minors, or any other content that could seriously damage the health or the physical or mental development of the users may not be authorized. Lottery draws or numbers are expressly excluded as betting objects. 5. Advertising The project allows the advertising of Online Gambling Platforms, with the following limitations: • Promotion and advertising may only be made by the Platforms that have an Operating License, which must be verified by the broadcaster. • It must be clearly and precisely stated that the service is for persons over 18 years of age. • The use of graphics or symbols or characters that appeal to minors is prohibited. 6. Technical Standards and Certifications Online Gaming Platforms may only operate if they use software, equipment, systems, terminals and servers that comply with the standards defined by the Superintendency and are duly certified by the entities authorized by the Superintendency. The project establishes the creation of a Registry of Certifying Entities. 7. Oversight The Superintendency is responsible for overseeing compliance with the regulations. The Bill establishes
60 • IMGL Magazine • November 2022
Made with FlippingBook flipbook maker