"Since the company’s foundation in 2012, Slotegrator has been one of the iGaming industry’s leading software and turnkey solutions providers and aggregators for online casinos and sportsbooks. Headquartered in Europe with a strong presence in the CIS market, they are constantly expanding into new markets and developing their products and offers, which include a variety of payment systems and a portfolio of games that range from standard slots to pioneering live dealer games.
Slotegrator aims to create the new leaders of the iGaming industry by helping to kick-start successful projects, offering business solutions to different sectors, and providing expert advisory. On Slotegrator Academy company made an analytical article about Latin America, offering a country-by-country rundown of the South American online gambling market for 2021.
Emerging markets will dominate the iGaming conversation throughout 2021, and the Latin American market is home to multiple new opportunities. Keep reading for an overview of regulations and revenues from Mexico to Brazil and get an idea of the region’s tremendous potential.
Latin America is a land of promise for the iGaming industry. Markets that have already chosen to regulate online casinos and sportsbooks are seeing stable growth in the sector, and countries with favorable regulations on the horizon are anticipating astonishing levels of growth in the near future.
The regulatory status of online gambling varies across the continent. Some countries, such as Ecuador and Brazil, currently prohibit all forms of gambling — with an understanding that online gambling is included — except for state lotteries. In other countries, while it is not officially regulated, it is not actively prohibited either.
Bolivia, Mexico, and Brazil are all among the nations considering or actively pursuing reforms to their online gambling laws. The latter two countries currently have proposed legislation under consideration. Colombia, meanwhile, has been updating its regulatory framework to better embrace the digital age. In Argentina, online gambling is regulated on a province-by-province basis.
Brazil is often called the sleeping giant of Latin America, but several other markets present iGaming operators with opportunities worth serious consideration. Latin America’s largest and most populous country, is often referred to as a sleeping giant — one that’s long overdue to wake up.
At the moment, most forms of gambling are prohibited, but a special commission was formed in 2016 to develop regulations for the sports betting sector. Gambling legislation was ultimately passed in 2018, but the implementation of the scheme has been delayed.
The legislative process involved public consultations that brought in nearly 2000 suggestions from 600 gaming companies. Ultimately, sports betting is set to be privatized, lotteries will be run by the state governments, and jockey clubs will continue to offer horserace betting. The highly anticipated new regulations are set to come into force by the middle of 2021.
Once the new regulations come into effect, Brazil will have the continent’s largest land-based and online sports betting market. With a population of over 200 million (an estimated 63% of whom have access to mobile technology) and a nationwide passion for sports — particularly football — Brazil is a dream come true for sportsbook operators who want to expand into South America.
The entire iGaming industry has been keeping a close eye on the situation in Brazil — and for good reason; within five years of becoming regulated, the country’s sports betting market is expected to be worth over $1 billion.
How can Slotegrator help?
Starting an online casino or sportsbook is no easy feat. Without expert assistance, potential operators can stumble right out of the gate. Our jurisdictional advisory services can assist you with choosing the right market and business structure for your enterprise, as well as acquiring a license.
Latin American bettors are famously passionate about football. Meet their needs with Sportegrator, our customizable online sportsbook solution that comes with a wide range of data feeds and sports disciplines to bet on."
Source: GMB / Slotegrator
