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Stake Colombia, a subsidiary of the renowned online casino and sports betting platform, has announced a measure to mitigate the impact of recent Decree N°0175 of the Colombian Government. This decree imposes an Added Value Tax (IVA) of 19% on online payments, with the objective of raising approximately COP 519,000 million (USD 123.2 million) to address the humanitarian crisis in the Catatumbo region.
To prevent its users from being affected by this new tax, Stake has decided to compensate the amount of the tax through a special promotion. Through this initiative, players will receive a bonus equivalent to VAT deducted from their deposits, allowing them to continue betting with the total amount of their deposited money.
A Measure for the Benefit of Players
Diana Otálora, general manager of Stake LatAm, explained that the company seeks to ensure that its users are not affected by the tax application. “Users are the most important thing and that is why we have to adapt to the new Government measure regarding the 19% tax and comply with the required times. For this reason, we are adopting internal measures so that our clients can continue playing without being affected by this situation.”, declared Otálora.
Details of the Promotion and its Application
The promotion will be in effect from the 22nd of February 2025 until the 25th of February 2026. Its operation is based on the following formula to calculate the bonus:
Formula: Bono Value = amount deposited / 1.19
This means that for every deposit made on the platform during the duration of the promotion, the Stake will automatically credit a bonus equivalent to the value of the VAT applied. For example, if a user deposits COP 100,000, he will be deducted COP 15,999 in VAT but will receive a bonus of the same amount to continue betting without effective loss of capital.
Requirements to Obtain the Bonus
To access the benefit, players must meet certain requirements:
- Be registered on the Staking platform with an active User Account.
- Accept the Terms and Conditions of the promotion and the General Terms and Conditions of the Stake.
- You must wager 100% of the net amount of your deposit (excluding VAT) before being able to withdraw the winnings generated.
It is important to highlight that the accredited bonus is not withdrawable directly. It can be used to generate gains that can only be withdrawn once the deposit requirements have been met.
Conditions and Considerations
Stake has informed that the promotion only applies to deposits made in the User Account during the period of validity. It does not extend to earnings obtained or other bonuses offered by the company.
Furthermore, the company reserves the right to modify or cancel the promotion in case of technical errors or changes in applicable regulations, notifying users in advance.
With this initiative, Stake seeks to minimize the impact of the new VAT on Colombian players, ensuring that they continue to enjoy the platform without seeing their betting power reduced. By returning the tax in the form of a bonus, the company maintains its commitment to the user’s experience, adapting to new regulations without harming its betting community.
Source: YogoNet
