In Colombia, Betano applies a 20% withholding tax when an individual win exceeds 48 UVT (Tax Value Units), in compliance with Coljuegos regulations.
When is the tax applied?
The withholding is only applied if an individual win exceeds 48 UVT.
In that case, 20% of the winnings is automatically deducted before the funds are credited to your account.
Why is this tax withheld?
This withholding is mandatory under the regulations of Coljuegos, the authority that oversees games of chance and gambling in Colombia.
It ensures compliance with the tax obligations associated with prizes earned through online betting platforms.
⚠️ Please note
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The withholding only applies if your individual win exceeds 48 UVT.
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The calculation and deduction are automatic.
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This is a legal and mandatory measure that cannot be altered by Betano.
To learn more about taxes on your winnings, log in to your account and go to: Account > Transactions > Withdrawal.