The world of online gaming is entering a phase of many changes in which several countries are starting to accept the gaming industry as a legitimate business. This is especially true for the sector of online gambling that, to date, continues to face certain stigmas. Betcris understands the importance of establishing productive connections across Latin America (LATAM) and has just become an affiliated member of the Colombian Federation of Luck and Random Game Entrepreneurs (Fecoljuegos). This Colombian non-profit organization exists to bring more professionalism, industry healthy competition and social responsibility to an industry that still has many challenges to face in the future, complying with the specific requirement of each location. As Betcris continues with its goal of expanding across more countries in LATAM, this can turn into a very fruitful partnership that comes to benefit Betcris’ current operations in Colombia, as well as throughout the region.
With its experience, Fecoljuegos looks to serve as a consultant to companies in the gaming industry to help them face more complex situations. Looking for the best solutions that are fair and effective has helped Fecoljuegos to build a solid image across LATAM. It was founded in 2000, and it functions as a trade association, or professional union, with members coming from the industry, such as gambling operators, gambling software developers and game providers within the scope of luck and random game entrepreneurs located all across the country.
This was not the only reason for Betcris to enter in such affiliation; Fecoljuegos is a consolidated agency that is respected by several government entities as a trusted caller, even though it is privately owned. Betcris continues to recognize more reasons to consider this a win situation, as Fecoljuegos can provide a legal framework for the company to work on moving forward. The agency is also a leading example among the rest of the LATAM countries in terms of interactions with its members and educational opportunities.
Fecoljuegos is constantly running workshops, usually focused on imparting knowledge to industry insiders, such as conferences, updates regarding anti-money laundering processes and any legislative reform in Colombia. It is one of the referents for consultation for many locations in LATAM that are starting to consider adopting different levels of legalization. Since Betcris intends to expand across all LATAM countries, the information obtained from such a respected organization can set the ground for similar practices to be adopted in farther lands.
Betcris also recognizes that this is an opportunity to excel as this affiliation can open the door to conversations with other political figures not only in Colombia, but as well as in other LATAM countries. Fecoljuegos can also provide leverage is the great experience it accumulates in terms of compliance of the industry in Colombia and other LATAM countries. The development of the industry needs to operate in accordance with local governments, and, in order to stand out from the competition, it makes a significant difference to be up to date on steps taken towards online gaming legalization. The hope is now set on more countries in the LATAM region to create these types of entities that will increase awareness of the gambling industry.