Special Report: The Rise of Online Gaming in Latin AmericaPublished December 24, 2015 by Sol FH
From Argentina to Mexico, online gambling in Latin America making its mark on national economies.
For a few years now, many of the biggest names in iGaming have had their sights set on the growing Latin American online gaming industry. With a population of more than half a billion people combined, Latin America is a virtually untapped resource with massive potential.
Until recently, many governments in Latin America have had outdated laws pertaining to online gambling. Countries like Mexico are now in the process of changing Mexican gaming laws, in order to combat corruption and generate the most impact on national budget. Numerous operators have already made their move into the Mexican industry, with Caliente Casino and Jackpot City Casino being the most popular with the local population.
Brazil is another example of slow and naïve bureaucratic system that has not yet passed legislation for national reform regarding the issue. With the Brazilian economy hovering around record lows there have been new bills, which among other things would threaten foreign operators from proving iGaming services. Some popular foreign operators in the Brazilian market include big names like Tivoli Casino and bet365 Casino.
The Next Step
The Latin American market has been avoided by many operators due to the history of political instability and weak economy. That has changed in many of its countries over the last ten years. In Argentina, Casino Estrella and Winner Casino are examples of how a local brand and a foreign one work side by side and become the most popular brands therein. The Latin American population is incredibly mobile savvy and young, which are two huge markets to consider.
Chile has a booming mobile gambling market with local iGaming leaders 888 Casino and 7Regal Casino offering optimized mobile casino gaming to Chileans.
Sights Set on 2016
2016 will be a huge year for hard-line decisions regarding online and land-based gambling in Latin America. There have already been some of the biggest conferences in the world that have taken place in Argentina and Brazil. Casino Fantasia's Latin American Manager, Victor Arias understands the potential in Latin American, "It is really important to recognize the interesting growth and interest from the biggest companies all around the world to conquest a market with a population of over 600 million people in 27 countries which are having an important economic growth and the power of acquisition is getting better every day." He believes more investors will flock to the Latin American market based on these factors.
Even international software developers have plans to better reach the Latin American industry. Austria-based NOVOMATIC have plans to open local offices in Central and South America to better serve local operators. There are already games designed, which are designed for Latin American players and the future looks very bright for continued growth.
With the New Year just a couple of weeks away, it's exciting to think about what's in store for the Latin American online gambling industry will evolve into. There is currently shaky infrastructure in place, but new foundations are being poured with every new government decision made. The potential is too great to overlook for job creation and new budgets due to online gambling profits. It may be slow going, but perhaps that is exactly what is needed in order to make a strong, lawful online gambling industry in Latin American countries.