Rush Street Interactive has been granted a Colombian online gaming licence in time to capitalise on a surge in World Cup betting.
The digital division of US operator Rush Street Gaming secured the five year licence following a $5m payment to regulator Coljuegos.
Rush Street president Richard Schwartz stated the initial investment is designed to “obtain the proper level of insurance for compliance guarantees.”
The contract agreement marks the tenth online gambling licence awarded in the country since it became the first South American country to regulate online gambling in 2016.
Rush Street will offer online sports betting via its Rushbet domain, and follows in the footsteps of Sportium, granted a $2.7m licence in March, and Luckia, the Spanish operator awarded a $3.8m licence in February.
As of April this year, Colombian licensed platforms registered over 614,000 local customers, who have wagered a total of $26.2m, a figure predicted to swell over the course of the World Cup.
Coljuegos president Juan B Perez Hidalgo said the addition of Rush Street to the country’s licensees “confirms the great interest of the private sector” in Colombia’s potential.
Hidalgo stated in December of last year that the regulator intended to have 20 operators licensed in time for the World Cup, adding that increased competition “benefits the players.”
Though this figure has not been reached, the demonstration of enthusiasm should act as an encouragement for both operators, and neighbouring countries, to enter the promising South American online market.