Colombia Sets Legal and Financial Rules for Raffle Tech Operators

Colombia’s gambling regulator, Coljuegos, has released a detailed regulatory framework establishing the legal, financial, and technical requirements for authorising technology operators in the raffle sector. The resolution, drafted in coordination with the National Council for Games of Luck and Chance (CNJSA), aims to formalise the systematised operation of raffles, improve oversight, and ensure stability in the sector. The draft is open for public comment until August 20, 2025, via [email protected].

The framework covers requirements for domestic and foreign legal entities, application procedures, financial standards, and enforcement mechanisms, with authorisations granted for a maximum of five years and subject to renewal.

Legal and Corporate Documentation

To qualify, companies must present a Certificate of Existence and Legal Representation issued within 30 days of application, showing that the company’s duration matches or exceeds the term of the licence sought and that its corporate purpose directly relates to providing technological services for raffles. A corporate resolution is required if the representative lacks explicit authority to apply.

Other mandatory documents include copies of ID for the legal representative, accountant, and statutory auditor; proof of professional registration for the auditor; an updated shareholder composition certificate listing ultimate natural person owners; and proof of social security and parafiscal payments for the past six months. The most recent income tax return or a justification for exemption must be submitted.

Foreign companies with a Colombian branch must provide local registration documents, while those without must present official certification from their home jurisdiction confirming existence, powers of representation, and corporate purpose.

Financial Viability Standards

The resolution introduces specific financial indicators that applicants must meet, verified by Coljuegos’ financial management division. These include:

• Liquidity ratio of at least 1.60
• Debt level not exceeding 60%
• Working capital of at least COP 6.35 billion
• Interest coverage ratio of 1.80 or higher
• Positive return on equity and return on assets

Financial statements must be prepared in line with Colombian accounting standards (NIIF), certified by the legal representative and accountant, and, where applicable, audited by the statutory auditor. Statements must be dated as of December 31 of the prior fiscal year, or initial statements for new entities.

Technical Certification and Transition Period

In line with the CNJSA resolution, technology operators must ensure their platforms meet the Central Game System (SCJ) certification standards, verified by accredited laboratories. Operators will have up to six months from approval to obtain this certification.

A 12-month transition period will allow the continued use of physical tickets and manual sales while platforms are upgraded to comply with the new technical requirements. Coljuegos’ Technology Office will conduct the technical evaluation during the authorisation process.

Application Process, Duration, and Sanctions

Applications must be emailed to Coljuegos with all supporting legal, financial, and technical documentation. Once all criteria are verified, Coljuegos will issue an administrative act granting authorisation for up to five years. Renewal requests must be submitted at least three months before expiry.

Coljuegos may revoke or amend an authorisation if a breach of obligations under the decree, the technical requirements annex, or the authorisation act is confirmed, following the procedure in Article 47 of Law 1437 of 2011.

According to the regulator, these measures are designed to “guarantee the operational and economic viability of technology companies that run raffles in Colombia” and to maintain public trust in the systematised operation of games of chance. The combined legal, financial, and technical standards are expected to modernise the raffle sector while ensuring responsible and transparent operations nationwide.

Source:

Coljuegos abre a observación proyecto de resolución para operadores tecnológicos en rifas, coljuegos.gov.co, August 2025.