Popularity of crypto bookmakers (Colombia)

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1) Where did "crypto popularity" come from

Interest in overseas betting sites hosting cryptocurrencies has grown in Colombia in recent years. Their key "lures" are fast deposits/withdrawals, cashback in tokens, high limits and weak verification. But almost all such sites operate offshore and without the Coljuegos concession, that is, outside the legal circuit of the country. The regulator regularly suppresses unlicensed formats - in 2025, Coljuegos publicly requested the blocking of the Polymarket platform, where cryptocurrency bets on political events were accepted (in Colombia, such bets are not regulated and are considered illegal).

2) What the law and regulators say

Legally - only under the Coljuegos concession. All online gambling/betting activities in Colombia are permitted solely under a contract (concession) with Coljuegos; The "white list" of existing operators is published on the regulator's website.

Crypto is not "money" in the legal sense. Financial Supervision Authority (SFC) explicitly states that it does not regulate or endorse business models on "cryptocurrencies"; crypto assets in Colombia are not legal tender. This reinforces traceability and AML requirements for any payments in the sector.

The 2025 tax regime also affects crypto deposits. Provisional Decree 175 of 14. 02. 2025 introduced 19% VAT on deposits in online games, and the database also includes "transfers in cash or crypto assets" when the player makes the replenishment. This confirms: any replenishment, including through crypto assets, falls under the VAT logic of 2025.

3) Crypto payment and the "white field" of betting: where there is a conflict

The Federation of Operators (Fecoljuegos) pointed out a key problem: the use of cryptocurrencies as a payment method in unlicensed products undermines the requirements for access control, age verification and responsible play. In the context of the Polymarket case, this was one of the reasons for requesting the lock. Conclusion: crypto acceptance from offshore sites is a marker of the "gray/black" market in the eyes of the local industry.

4) Why players still go to "crypto"

1. Speed and convenience of international transfers, bypassing cards/bank gateways; 2) aggressive promos in tokens; 3) the illusion of anonymity. But you have to pay for it with risk - from blocking domains and freezing funds to lack of legal protection and the inability to complain to Coljuegos. Lock request cases demonstrate the reality of these risks.

5) Coljuegos position and tightening trend

The Colombian regulator is strengthening supervision of "games operated via the Internet": it updates technical requirements and financial guarantees for operators, seeks blocking of illegal platforms and emphasizes the priority of consumer protection and health care (through payments for exploitation rights). For players, this means: vector - to a legal, highly compliant market, where crypto payments have not yet been normalized.

6) Practice 2025: How to navigate the player

Check the whitelist. Play only with operators from the Coljuegos registry (clickable brands on the official page).

Look at replenishment methods. Legal brands are dominated by PSE/bank transfers and local wallets (Nequi, Daviplata). If the site "insists" on crypto without alternatives, it is almost certainly offshore. (And with any replenishment in 2025, the VAT deposit mode will work.)

Assess the risks of offshore. No Coljuegos protection, probability of domain/account blocking, difficulty of refund, increased AML risks. The precedent with Polymarket is indicative.

7) For operators and partners

If you are aiming at Colombia, crypto inputs/conclusions are possible only in logic compatible with the regulatory and fiscal requirements of the country (KYC/AML, reporting, taxes, consumer protection). Keep in mind that financial and supervisory authorities do not recognize cryptocurrency as legal tender, and Coljuegos focuses on traceability and compliance with technical regulations. Separately, lay down the impact of VAT on deposits in 2025, which directly includes transfers in crypto assets.

The popularity of crypto bookmakers in Colombia is fueled by convenience and promotional mechanics, but the legal contour remains tough: only operators with the Coljuegos concession can legally play; crypto acceptance - the "red flag" of an unlicensed offshore; and in 2025, any deposits, including those made through crypto assets, are subject to 19% VAT under Decree 175. A safe and sustainable choice is to follow the Coljuegos registry and payment practices that are compatible with local compliance.