Cryptocasino growth (Colombia)

Full article

1) What is it all about: "crypto" as a new entrance to the market

Over the past two years, Colombia has seen increased interest in overseas betting sites and casinos accepting crypto assets. The reasons are clear: quick deposits/withdrawals, aggressive bonuses in tokens and a sense of greater anonymity. But almost the entire segment operates offshore and without the Coljuegos concession, that is, outside the country's legal field. The verifiable list of "white" online operators is published by the regulator itself, and it does not include offshore cryptosites.

2) Legal circuit: what is allowed and what is not

The only legal way is the Coljuegos concession for "games operated via the Internet" and work under the control of the regulator (register - on the Coljuegos portal). Offshore without concession = illegal.

Crypto in Colombia is not money by law. Finnadzor SFC has repeatedly confirmed: bitcoin and other "virtual coins" are not legal tender, have no government guarantees and are not required to be accepted for payment. This strengthens the KYC/AML and traceability requirements for any payment scenario.

3) Tax reality 2025: VAT on replenishment - both in fiat and crypto

From February 14, 2025, Decree 175/2025 is in effect, which introduced 19% VAT on deposits in online games. The tax base is determined at the time of replenishment of the game account, and the norm directly covers transfers "in dinero o criptoactivos." That is, even if the replenishment takes place in crypto, it falls under the VAT deposit regime of 2025.

Practical effect. Players have less funds than the payment amount (after VAT), and operators have a compressed margin. This reduces the attractiveness of the "gray" crypto segment in terms of product economics and increases incentives for concession work.

4) Enforcement: Polymarket case and "hard signal" to the market

In the fall of 2025, Coljuegos publicly asked providers to block Polymarket, a platform of "prediction markets" where cryptocurrency bets on electoral events were accepted (in Colombia, such bets are not regulated and qualify as illegal). The Fecoljuegos Guild supported the initiative, pointing out the lack of access control, age verification and responsible play measures for such services.

5) Why "crypto" is still growing - and where is the limit

• international UX standards (rapid replenishment/withdrawal), token cashback marketing, attempts to circumvent banking restrictions/fees.

• high risk of blocking domain/applications and freezing funds, lack of access to consumer protection mechanisms (complaints to Coljuegos, mediators), tax burden on deposits in 2025 if the operator wants to work "in white."

6) What it means for players and operators

To players

1. Check the brand in the Coljuegos registry - this is the only reliable indicator of legality.

2. Remember: crypto is not a legal tender in Colombia; offshore crypto sites have no protection.

3. Keep in mind that in 2025 there is 19% VAT on replenishment (including crypto funds).

To operators

1. If you're aiming for Colombia, the only way is the Coljuegos concession + full KYC/AML compliance and tech regulations.

2. Build a payment architecture around legal local methods (PSE, wallets, etc.) and transparent calculation of VAT on deposits.

3. Do not put political/electoral markets and "crypto-only" replenishment in the product - the risk of blocking is high.

Interest in cryptocasino in Colombia is fueled by the convenience of crypto derivatives and global trends, but the legal framework remains tight: crypto assets are not legal tender, only Coljuegos concession holders legally operate, and in 2025 deposits (including crypto) are subject to 19% VAT. Instead of a "crypto-short," the market is moving towards a complimentary model with local payments, public registries and active blocking of illegal immigrants - and it is in this direction that further "whitewashing" of demand will take place.