Ecuador Registers 65 Sports Betting Companies Amid Tax Changes
Over the first half of 2024, 65 companies registered to offer sports betting in Ecuador amid changes to its gambling tax framework.
Effective from July 1 this year, Ecuador now enforces a 15 percent gross revenue tax on sports betting operators, regardless of if they are based in Ecuador or abroad.
Players are also now subject to a 15 percent withholding tax, with operators having six months from July 1 to gain compliance with the new regulations.
While land-based gambling has been prohibited in Ecuador since 2011, there’s no specific ban on sports betting, and the Internal Revenue Service’s (SRI) Damián Larco revealed 65 sports betting companies had registered over the first half of this year.
Study: 10 percent of Brazilians Endure Gambling-Linked Financial Issues
A new survey in Brazil by market specialist Hibou has revealed 10 percent of the Brazilian population have suffered financial issues stemming from gambling.
The study involved 2,839 respondents and found around 68 percent of Brazilians gamble, with 16 percent of those surveyed having experienced financial problems from gambling.
That equates to around 10 percent of the population, a statistic that may cause concern ahead of the legal betting market going live in Brazil on Jan. 1, 2025.
The study also revealed that 53 percent of bettors had spent more than they won on all of their gambling, with less than half (48 percent) stating they had ever won a bet.
Kambi and Rush Street Interactive Pen Multi-Year Extension
Kambi will continue to work alongside Rush Street Interactive after the two companies agreed a multi-year extension.
The partnership was first formed in 2018, and the extension means Rush Street Interactive will continue to utilize Kambi’s sportsbook platform.
The Kambi-powered Rush Street Interactive sportsbook is currently live in a number of LatAm markets, including Colombia, Mexico and Peru.
Rush Street Interactive announced in July it was launching its RushBet brand in Peru as part of its “strategic advancement” into LatAm.
Lotteries’ Health Transfers in Colombia up 25 Percent in 2024
Coljuegos, the gambling regulator in Colombia, has revealed the 15 lotteries in the country have transferred approximately COP144 billion ($34.9 million) to the health sector so far in 2024.
That’s COP28.9 billion more than across the same period of 2023, an increase of around a quarter, according to Coljuegos president Marco Emilio Hincapié.
It’s the gambling sector that’s displayed the most growth in Colombia across 2024, ahead of permanent bets and Scratch&Listo.
Hincapié said: “If we take into account all territorial games, we are reaching COP346.5 million in transfers for health care in the departments and municipalities. We believe that, in the remainder of the year, we will be able to surpass the goal of COP470 million in resources transferred by the territorial games.”
49ers Announce Mexico Betting Partnership Expansion with Foliatti Casino
The NFL’s San Francisco 49ers have announced a new deal with Mexican casino brand Folitatti Casino, which it claims is the first international legalized sports betting deal in the league’s history.
Foliatti Casino will provide exclusive experiences for 49ers fans and will present various events in Mexico.
The casino can also utilize 49ers marks to promote its sports betting business in Mexico, and its online operations director Pamela Loman Huerta is excited for the expanded deal.
“This is an achievement that reaffirms our commitment to sports and entertainment and drives us to continue innovating to offer unforgettable experiences for our users and passionate 49ers fans,” Huerta said.
