COThe online betting industry in Colombia experienced a surge in users and bets during the 2026 World Cup, but this growth was overshadowed by high tax burdens. Corredor Empresarial, the leading online sports betting platform in the country, reported a potential 35% increase in betting volume due to the World Cup, though it still struggles to recover from the financial impact of the IVA (value-added tax) imposed in early 2025. The tax, which applied to online gambling operations, caused significant losses for the company, costing them 740 billion pesos. The company argues that the IVA was misapplied because online betting operators do not receive the full amount from users; they only retain a portion after paying out prizes. This led to a negative user experience and increased competition from illegal platforms that avoid such taxes. The tax was later repealed by the Constitutional Court, but its effects on the industry remain evident.
Bias read (Progressive): The article frames the issue as a conflict between the government’s taxation policies and the economic interests of legitimate businesses. It highlights the negative impact of the IVA on the industry, suggesting that the tax was poorly designed and disproportionately affected legal operators. The ph
