Broadening the horizon: There’s more to LatAm than Brazil
Latin America is one of the hottest regions for online gambling right now, with the heat being turned up in Brazil as a result of the country opening its doors to regulated and licensed online gambling from 1 January 2025. It’s easy to see why Brazil is causing so much excitement. This is a large market with a population that skews younger than others, and where Millennials and Gen Z make up the largest addressable audience for sportsbook and casino operators. This difference in audience needs to be reflected in the experience operators offer; this means stocking their books and lobbies with fast betting products, and combining that with social interaction and a thriving community around the brand.
Remember: this is a market of influencers, esports fanatics and crash game players. Operators must understand these cultural quirks and deeply localise their offerings to meet player expectations. If they don’t, players simply won’t engage. The operators that can do this stand the best chance of finding success in Brazil, a market that promises to be fiercely competitive – I’d go so far as to say, in the early days, it will be the most competitive market we’ve ever seen as operators and suppliers fight for market share. But success in Brazil provides operators with a blueprint for launching into other LatAm markets – the region is more than just Brazil, of course. While LatAm markets differ – as they do in other regions such as Europe and North America – the fundamentals are pretty much the same. So, which markets can operators look to expand into beyond Brazil?
Mexico
Mexico is a bit of a sleeper market right now. Both online sports betting and casino are regulated, with the market expected to be worth around $3bn per year by 2029. This is supported by operators in the market reporting significant revenue increases, especially online.
Colombia
The online gambling market in Colombia is also riding a nice upward growth trajectory – in the second quarter of the year, revenues hit $2.5bn, with the industry proving to be a key contributor to the country’s wider economic growth. Interestingly, online sports betting contributed the most to the total, accounting for around 47%, with localised bingo and casino games, including crash, accounting for 33%.
Argentina
Argentina is more of a long-term play, especially when you consider the situation in Buenos Aires where the regulator has suspended new operator licence applications. This is over concerns that regulations are not sufficiently protecting players. These issues will likely be addressed and the licence processing resumed. But, in the meantime, current licence holders can continue to offer online gambling to their players.
Other provinces that have regulated online gambling include Santa Fe, Misiones, San Luis, Entre Rios, Neuquen, Rio Negro, Chaco, Córdoba and Tucuman, with the total market estimated to be worth around $2.4bn per year.
Peru
Peru passed a law to regulate online gambling back in February, with more than 145 licence applications submitted by operators wanting to enter the market. The recent introduction of a 1% excise tax has caused some concern, but this remains a solid market for operators to explore.
In each of these markets, localisation is an absolute must. This covers everything from currency and payments to bonuses and, of course, content. Crash games are hugely popular in Latin America and are a must-have for operators in any LatAm market. This is because they deliver the fast action players are seeking, are multiplayer and offer plenty of social interaction. Mobile is also the dominant channel of play across the region.
Indeed, we believe crash games are proving to be a powerful acquisition tool for operators in Latin America, while also allowing them to build a loyal and engaged community around their brands. In such a competitive market, stocking a powerful and effective crash game can be the difference between success and failure.
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