Online gambling is booming across the globe, but one region that shows particular promise in Latin America. With every passing year, the number of online and mobile casinos and sportsbooks increases.
However, not every country in Latin America has the same potential. Slotegrator has compiled a list of the most promising countries in Latin America, based on population and regulation. Read on to find out what they are.
As the largest country in Latin America, it’s only natural that Brazil has the largest gambling market in the region. More than half the population has access to mobile devices, which creates the opportunity for mobile playing. Brazilians also love football (North American soccer) and enjoy placing bets on it.
New regulations were approved in May 2022 that don’t put a cap on the number of licenses that can be issued, but the licenses come at a hefty fee of $4.4 million a piece.
Mexico has the second-largest population in Latin America and its gambling industry generates approximately $300 million in revenue annually. Football is also extremely popular and generates many sports bets. Online casinos must partner with land-based casinos but don’t need additional licensing.
One of the most popular forms of betting in Argentina is the lottery, and there are several in the country. Other popular forms of online gambling are sports betting and bingo.
Argentina’s regulatory system is similar to that of the United States—there are no regulations at a federal level, but each state or province can draft its own legislation. As of now, more than 15 Argentinian provinces have approved online gambling
Colombia was the first country in Latin America to regulate online gambling, and today all forms of gambling are legal. More than half of Colombia’s residents have access to mobile devices, and from that group, approximately 60% have shown an interest in gambling. Many casino operators in Colombia use Slotegrator’s APIgrator, a solution that offers over 7000 games that can be integrated into already-existing platforms.
Panama legalized gambling in the 1940s, but although it has allowed gambling for a long time, the regulation isn’t solid. Licenses cost only $50,000, which is not a lot compared to other locations. However, the low price reflects the ambiguous revenue potential in the country.
Costa Rica is home to many offshore casinos, which must receive a “data processing” license. These casinos target residents of other countries and locations. Ironically, online gambling for Costa Ricans is not legal in the country, though there are several land-based casinos.
Belize is another country that’s popular with offshore companies. They set up online casinos that are regulated by the Gambling Control Commission and pay an annual licensing fee of $10,000. While the licensing fee is relatively low, operators also need to submit a deposit of $500,000 to ensure that they adhere to the standards of the Commission.
Gambling isn’t regulated in Peru, but there are plenty of online casino operators. These are usually licensed by Malta or Curacao regulators. However, the government recently approved a bill to regulate online sports betting, which has the potential to bring in more revenue for the country. Today, Peruvians seem to prefer sports betting over online casino games.
Research Is Important When Launching an Online Casino
The Latin American gambling industry is booming, but it’s important to research each location in depth in order to decide which country serves your purposes best. There are many appealing investment opportunities, and it’s important to make the most of them. Slotegrator can assist by offering high-level solutions that have many features that players find appealing.