HONG KONG, Aug. 3, 2021 /PRNewswire/ -- From Mexico to Brazil (and plenty of places in between), Latin America is one of the world's most exciting emerging markets for online casinos and sportsbooks. Slotegrator explains how to open an online casino and betting platform in Latin America and takes a closer look at the region's tremendous potential in this article.
While all eyes are on Brazil in anticipation of the country's rollout of its new sports betting regulations, there are multiple other opportunities across the continent for new online casinos and sportsbooks or established brands looking to expand.
Regulations vary throughout Latin America. Some countries, such as Ecuador and Guyana, currently prohibit all forms of gambling except for state lotteries; others fully regulate every form of gambling known to man.
Colombia became the first country in Latin America to regulate online gambling in 2016. Almost all forms of gambling, both land-based and online, are now legal in the country. The regulatory framework is already prompting growth; total NGR was predicted to reach $200 million in 2020.
Mexico, where nearly all kinds of gambling are explicitly regulated, is widely considered to be fertile ground for new and expanding online casino and sportsbook operators. Like the rest of Latin America, games of chance are popular throughout the country, with bettors showing an added level of enthusiasm when it comes to betting on football.
Online casino and sportsbook operators don't require an additional license, only authorization and a partnership with a land-based license holder. However, the country could stand to benefit if authorities were to loosen requirements and issue more licenses; the black market is estimated to be worth hundreds of millions of dollars.
Online gambling is unregulated in Peru, meaning that while authorities do not issue licenses, they also do not prohibit operators from offering online casino games or sports betting. The government has also announced an intention to regulate the online gambling sector.
But with over 200 million people, Brazil rightfully draws the lion's share of attention. A bill legalizing fixed-odds sports betting was passed in December 2018, but full regulations are still being developed.
Slotegrator provides top online casino and sportsbook software and shares interesting materials about iGaming in the academy section on the website. Read the full article for more details on the exciting opportunities to be found throughout Latin America.