Monday February 10,2014 : COLUMBIAN PARI MUTUELTENDER PROCESS BACK ON TRACK
Expected to go live pre-2014 Brazilian World Cup
Coljuegos, the Columbian Gaming Regulator has relaunched its stalled pari-mutuel betting software tender, saying it expects its sportsbook operation to be launched in time for the 2014 Brazilian World Cup.
Following a warning to unlicenced online gambling operators from ColJeugos in March last year, limited pari mutuel sportsbetting had been given the green light in the South American country but the public software tender that was subsequently launched was suspended following public consultation.
At the time, it was estimated that income received by the State from the introduction of pari mutuel sports betting would be in the region of $12 Billion in the first year of operation, rising to $49 Billion by year five. However, Finance Minister Mauricio Cardenas said in a recent press statement that initial sales are projected to reach over $ 38 billion in its first year of operation, and that by the fifth year, cumulative sales of the game would reach an amount close to $ 300 billion, providing an additional $ 50 billion for the health sector.