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Nequi in Colombian Casinos
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Colombia is a South American online gambling pioneer, as this country was the first on this continent to legalize Internet casinos in 2016. It made this move as a means to boost its economy, and because of it, it has become famous for one more thing on top of its rich culture, music, and Arabica coffee. Hence, Colombians get treated to a wide array of gambling sites, as many residents are also exploring foreign casinos, unlicensed by the national regulator – Coljuegos, despite its protests. In the same year Colombian online casinos became legal, Nequi debuted, a mobile payment app that has taken this South American nation by storm, and is now one of the go-to transaction options at licensed gambling sites. It is a secure and speedy pick that is a perfect fit for those looking to play remotely, from anywhere at any time. Check out our guide below, which explains why Nequi has surged in popularity among tech-savvy Colombian casino enthusiasts, and learn about the advantages of its use, chiefly in the regulated Colombian gambling landscape.
Online Gambling Regulation in Colombia
South America is now a dynamic gambling region that is evolving at a rapid pace. Colombia is at the forefront of this revolution alongside Peru, Argentina, Chile, and, of course, the continent’s gaming juggernaut – Brazil.
After gaining its independence, the Gateway to South America grew its passion for gambling. However, for the longest period, lotteries dominated this realm. Before the 20th century rolled around, chance-based draws were the primary form of allowed betting in this part of the world, and because of the long legacy they enjoy, they have turned into more than games of chance here. They are a big part of Colombian culture, with playing them serving as a weekly ritual for many even today.
It was not until the mid-20th century that Colombia started to take gambling regulation more seriously. In 1943, a law got passed that stated that only entities that had received government authorization could offer any kind of gambling service, lotteries included. From this point on, these activities started to get treated as a resource that could be milked for the greater public good, and they were, as revenues generated from them got directed to various social services. In 1991, this was officially established through a constitutional referendum, and two years later, the Empresa Territorial para la Salud, or ETESA, was established to manage Colombia’s gambling monopoly.
In 2011, this organization, following various scandals relating to inefficiencies and corruption, got dissolved and replaced by the previously mentioned Coljuegos, which is an administrative agency that took over online gambling regulation after the 2016 eGaming Act started to get enforced. This was a law that set the foundation for what conditions operators must meet to be able to function in Colombia’s online gambling industry.
In 2020, Coljuegos decided to authorize live games in an attempt to help operators offset losses incurred by the world being deprived of sporting events during the early onset of the COVID pandemic. The country’s regulator also has an interesting rule, where if an operator features games with RTPs of 83% and up, then its tax GGR rate drops from 17% to 15%.
Despite Colombia having established its iGaming sector, there are still many foreign casino sites targeting Colombians. Coljuegos looks to blacklist these platforms, but it cannot stop individuals from using them, as this is not a crime. In fact, many locals prefer these hubs over domestic ones because they have wider game offerings, permit the use of crypto, and feature more creative bonuses.
Licensed Coljuegos casinos look to counter the strong appeal of platforms mainly based in Anjouan and Curaçao with local advantages, such as including domestic payment picks, such as Nequi, and accepting peso (COP) transactions without conversion fees. Nequi has seen sizeable use at Colombian online casinos in the past few years, and in the next section, we go into why.
Using Nequi Across Colombian Online Casinos?
Nequi’s establishment, funny enough, coincided with the passing of the country’s eGaming Act, which has set in place the majority of the rules valid in Colombia’s online gambling domain.
Ebanx Insights put the number of Nequi users at 21 million, but Nequi itself claims that this figure is not accurate, that it is old, and that the 2026 user pool of this mobile app is 27 million. Though some sources claim this is the figure of people who have registered with the app, and that the actual number of those who actively use it is 20 to 21 million.
Nequi is a mobile-first payment solution created by Bancolombia. In 2021, it became independent, split off from this major Colombian financial institution, and became its own service. Essentially, this is mobile software that lets users manage funds without monthly fees. It aims to cater to those who enjoy a more digital lifestyle, and Nequi seeks to promote inclusion. It is not available in other countries and is a Colombian-only platform that requires anyone who signs up with it to produce a Colombian ID and a Colombian phone number. These are mandatory for registration.
This app has a host of features. Its main ones are related to its ability to send and receive money to and from other Nequi users and to Colombian bank accounts, issue a physical card for broader use, organize users’ savings, and even supply loans. It can do all these things from the palm of a person’s hand, and for the record, it does not even require reviewing someone’s credit history. Recently, it has gotten connected to Wenia, which is Bancolombia’s crypto platform, and this has given it entrance into the crypto arena.
One should choose to use Nequi for online gambling if they are into mobile play, want high privacy protection, meaning keeping bank info secret from operators, get no-fee depositing, enjoy biometric security, and want quick COP account funding at a wide array of licensed casinos.
Only individuals over 18 years old can have full app capabilities, and this software is easily downloadable from Google Play and Apple’s App Store. Setting it up is easy, and it includes a KYC verification process, with funding on the app balance being possible via P2P transfers, cash at correspondents, a Bancolombia account, or even money transfer services like RIA and Western Union. Though the latter options are only in play when someone from outside of Colombia sends money to someone in the country.
Casinos for Players from Colombia that Offer Nequi
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Deposits and Withdrawals with Nequi
A good-sized chunk of the regulated Colombian casino sites offer Nequi. Coljuegos-licensed platforms seem to integrate Nequi quite prominently, and that should come as no surprise, given the overall popularity of this payment method in the country. Its presence at gambling hubs in Colombia grew significantly in the past few years, and it is now, one of, if not, the most commonly accepted local payment methods there, along with DaviPlata and PSE.
Finding a good Nequi online casino is not an overly complicated process for experienced gamblers who know what to look for. It entails making a list of vital criteria and then seeing if considered brands meet these stipulations. The one that checks the most boxes gets chosen. The most commonly set criteria by veterans are bonus quality, game selection, reputation, payment rules, customer care, and overall terms of service transparency. When you track down a site that satisfies your preferences and needs, featuring Nequi as a transaction choice, to use this payment pick to load your account there, you must:
- Pop open your Nequi-friendly casino’s Payment window. It can usually be accessed through a button labeled Depositar, Cajero, or Cuenta.
- Once you are inside the Payment window, look for the deposit tab. Most times, this section will load first by default.
- Pick Nequi from a drop-down menu, or by clicking this app’s icon, which should be placed alongside others, like Visa, MasterCard, and so on.
- After deciding how much you wish to fund your gaming voyage with, input that sum in the deposit field, while respecting your chosen site’s minimum and maximum restrictions. If you don’t, you will not be able to complete this transfer.
- Authorize the payment on your Nequi app account using your PIN or biometric authentication of choice.
In around 90% of cases, the deposited sum will arrive in your Colombian casino balance in seconds. If it does not, refresh the transaction review area after a two-minute wait. If your funds are still not there, but are missing from your app wallet, talk to the casino staff.
KYC is obligatory at all gambling sites boasting Coljuegos approval. This is a legal requirement to ensure there’s no underage gambling. On most sites, this process must be completed after registration. So, the actual process of requesting a withdrawal through Nequi should be fairly quick. It repeats many of the steps we went through for depositing, and wait times for this method range from minutes to two days. Though this largely rests on how fast the casino staff processes withdrawals. Not all sites allow payouts through Nequi, and many use PSE transfers, Efecty cash, DaviPlata, or card options as alternatives for this.
Conclusion
Nequi, without argument, is a payment app that has had a great impact on how people transact in Colombia. Thanks to its mobile-first design, speed, and state-of-the-art security, it has also become a more than well-used tool for funding gaming balances across regulated Colombian online casinos. Colombian players will struggle to find this method at offshore sites, but even those that have it, while boasting a more expansive offering overall, cannot match the security and localized experience that Coljuegos-regulated platforms deliver.
FAQs
Is it legal to gamble online in Colombia?
It has been since 2016, when Colombia chose to become an online gambling trailblazer with the passing of its eGaming Act, which was the first such law of its kind in South America. It legalized online casinos in this country and gave Coljuegos the power to regulate this market. This organization began issuing licenses in 2017 and has done a stellar job controlling the Colombian gambling landscape.
Can Colombian players get access to international foreign online casinos?
There is no law that can stop residents of Colombia from using foreign gambling platforms or seek to punish them for using foreign gambling platforms. Coljuegos does not want Colombians accessing these sites, as it hopes to keep all gambling revenues produced by its people in the country. This is why it does its best to block offshore operators, but players who select to use foreign casinos face no penalties for this. Coljuegos’ aggression is directed towards operators, not individuals.
Will I find many Colombian online casinos that offer Nequi?
If you stick to regulated ones, then the answer to this question is yes. Many of the best-established brands in the country have it, at least as a deposit option, but its availability at international gambling websites is poor, given its local nature and this being a one-country payment solution.
Is Nequi used for both deposits and withdrawals at Colombian online casinos?
This payment solution has the infrastructure to support withdrawals as well. It is a two-way solution; both options are provided at some sites. But it gets primarily used for depositing. It has a higher level of availability for account funding only, instead of both depositing and withdrawing. This is mainly on account of integration costs and AML regulation.
Are there any fees connected with Nequi use at online casinos?
As a rule of thumb, no. This service generally does not charge any fees for standard money transfers. This is one of the reasons why Colombian players like it so much. Nonetheless, this does not mean that an online casino cannot add its own fees for Nequi transfers. They can. Thankfully, few seldom do.