Online sports betting and the concurrent influence of the Copa América has been recognised as a key driver of Colombia’s rise in gross domestic product.
The National Administrative Department of Statistics (DANE) reported that GDP in the South American country has grown by 2.1 per cent in the second quarter of the year.
Entertainment activities were a vital contributor, DANE said – as reported by Colombia’s gambling regulator Coljuegos – alongside public administration and agriculture.
“The main drivers of growth are artistic and entertainment activities, including online gambling, as they are associated with the sporting activities we have had in recent months and which give way to online betting,” said Piedad Urdinola, director of DANE.
In July, Colombia reached the final of the Copa América, South America’s premier continental football tournament, where they were defeated by Argentina.
“This year, online gaming has seen an increase of nearly 20 per cent in monopoly revenues paid to Coljuegos,” said the regulator’s president Marco Emilio Hincapié.
“This means that, to date, online betting has transferred around COP231.3bn (£44.2m) to the health of Colombians.”
Hincapié added that in Q2 this year, online gaming reported sales of over COP10bn (£1.9m), with sports betting the most popular vertical.
“This important contribution of the gambling sector to the economy is due, to a large extent, to our advances in regulation, control of illegality and the positive growth that online betting showed during the Copa América and Euros events,” he said.
“We are pleased to know that the gambling sector is making a positive contribution to the country’s economy and health.
“If we add up all the gambling concepts and modalities, to date we have already collected more than COP581bn (£111.1m).
“We continue to write a new story for the entity and for the industry. Our intention is to continue innovating and generating regulations so that all types of games generate more jobs, stimulate the economy and continue to provide valuable resources for health and scientific research.”