Colombians bet nearly $63m online during 2018 World Cup

Colombia’s online gambling sites handled nearly $63m in wagers on the 2018 FIFA World Cup, according to the local regulatory body.

On Wednesday, Colombia’s Coljuegos gaming regulatory body reported that the country’s 12 locally licensed gambling sites handled wagers worth COP185.9b (US$62.8m) during the month-long football frenzy in Russia between June 14 and July 15.

Coljuegos president Juan B. Pérez Hidalgo said that the average online bet placed during the tournament was COP13,000 ($4.70), which seems impossibly miniscule, but the monthly minimum wage in Colombia is only about $265, and the average World Cup wager was more than twice the size of the average bet placed in the period spanning January to May.

Coljuegos requires its betting licensees to pay out a minimum of 83% of turnover to their customers. The average monthly payout to punters from all Colombian betting sites in 2018 was $33.6m but this sum increased by over 56% during the World Cup. The biggest individual payday issued by a Colombian site during the tourney was $12,200.