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Chile seeks to ban sportsbooks from advertising at sporting events and clubs in the country

By March 22, 2022Sports events

from Chile MP for the Coquimbo region, Marco Antonio Sulantayannounced that in the coming days he will submit a bill to Congress that would ban the advertising of betting companies at sporting events and clubs in Chile.

The lawmaker, who is also a member of the Chilean Sports Commission, explained that although betting companies “are legally prohibited from operating in our country, in reality they operate in tax havens, with unknown whereabouts, generating millions of dollars in profits, but without paying any tax on those profits,” he said.

“During the last years we have seen how dozens, if not hundreds of these platforms have taken over sporting events through static advertisingand sponsoring football teams in particular, which could become a serious problem, such as the participation of minors in sports betting,” Sulantay added.

Without going any further, the parliamentarian assured that online betting companies “could also lead to gambling addiction, since users can generate profits through small bets, but in a single bet lose everything and in the desperation to get their money back, bet larger sums again”. .

Sulantay said that “since they operate in tax havens, it is unclear who the owners of these betting houses are, one could therefore deduce that there is money laundering. So, it is necessary to prohibit them from sponsoring sporting events and clubs, otherwise the Ministry of Finance should move decisively to regulate their operation in Chileas has been done with streaming platforms, so that they can pay the corresponding taxes,” he concluded.