The Current State of the Latin American Gambling Industry

The Current State of the Latin American Gambling Industry

The world's gambling industry is evolving every daySome regulatory markets in the Northern HemisphereShows significant growth.

Let's take a look at what role Latin America plays. The gambling industry in South American countries is still in the early days. However, some trends and characteristics will see the future image.

We define the operator's current arrival, the value of the industry, the active laws in the huge market, and the highly possible options for events.

How the Latin American Gambling Industry Looks Like

By 2023, global industries have increased by 50 % -to $ 90 billion from $ 60 billion. The center of his topic was Europe and North America.

However, the situation changes as follows.The leaders of the Igamin Market are concerned about the Latin American market.Latin America is a bazaar that is rich, rich in financial strength, with a huge population and growing.

However, the main barriers that prevent merchants from being dominant are the fact that there is no single legal concept of relative land and wigming on the mainland. Some states have a reliable framework for the development of the industry, while others do not have the laws related to gambling.

It is not considered that Latin America is the only. Each US state uses certain arrangements in this work. As a result, it is worth seeing the story of each country individually.

Gambling in Colombia

The following are the best scenarios in the Igaming industry. Colombia, which has more than 50 million spectators and fourth in the local economy, is one state that adopted the Igaming Law in Latin America.

The first law was passed in 2016, and the license for websites and casino proposals was introduced in 2017. In fact, with regard to market coverage, the main mass of the work that falls into the concept of "gambling" is available in Colombia.

A strange exception is a jump that could be organized alone.COLJUEGOSIs a sole proprietor with national regulatory authorities or local governments.

He also introduced important statistics on the possibility of the Igaming market from the Colombia legalization stage. In 2019, gamblin g-related work increased by 106 % compared to the previous year. In fact, the round reached $ 798 million, which led to the total income of $ 38 and $ 38.

By 2020, Igaming had a total profit of 37, $ 983 million. However, the total gallops they acquired-The revenue was stable to some extent, but it remained a good concept.Some experts are in the Gambling industry in the Latin American who should come to ColombiaSome experts regard it as a model state in the Latin American gambling industry.

The Opposite End: Brazil

Brazil, which has the largest population and land in South America, is often called Latin America's "sleepy giant."

From these precedents, Brazil has become a perfect target of traditional gaming and Igaming. However, Brazil lacked a legal framework to attract the industry in his country. In 2016, the federal government established a committee to formulate the rules for sports betting, and passed a bill for that in 2018.

As a result, the Brazilian government stopped implementing it up to 2021. In this way, Brazil is considered a fairly young market. Traders and operators are already from 600 to 2.

From the followingstatementGustavo José de Guimarães, Secretary Secretary Secretary Secretary Secretary Secretary Secretary Secretary Secretary Secretary Secretary Secretary SECAP, expects to launch the Sports Betting Division in 2022 before the start of the World Cup.

Of course, the timing is perfect, but considering the effort, the launch may be urgent. Last but not least, the Sports Betting Division is estimated to produce $ 1. 5 billion annually, as a result, the state agency is interested in prompt launch.

Chile is Also a New and Challenging Market

The Chilean government announced a new proposal to regulate Igaming in 2021, and will expand its ability to provide the Internet.

However, one of the disorders and qualities that had dissatisfied with the mouth of many operators was poster produced in 2020. Basically, the renewal of the license in Chile depends on whether or not to meet a specific claim, but to the economic evaluation, that is, a bid. For this reason, negotiations between foreign casino investors and the government have completely broken.

However, according to recent announcements, the adjustment plan is in the final stage, and both seem to have concluded. For this reason, Chile will soon have the opportunity to become a new gaming market in Latin America following Brazil.

Argentina’s Third Way

There is no doubt that gambling operators have evaluated the possibility of opening a business in the Latin American second economic country Argentina.

And the authorities gave them a chance, but not all were at the state level. Argentina's gambling industry varies from state to state.

Although there are regional regulations, Igaming is estimated to be $ 2. 4 billion, like casinos and sports betting. Government officials have announced that the federal tax on Igaming will increase from 2 % to 5 %, paying attention to the impact of Igaming's revenue.

However, Igaming tax regulations may differ depending on the state. For example, in Buenos Aires, services are taxed at 10%of GGR, but in the country's capital Benos Aires, this tax is 25%.

Argentina seems to be a good partner for Eagaming, despite a large amount of taxes in some areas. In addition, it may be an alternative model for the future gambling industry in Latin America.

Costa Rica

There is a strange relationship with Costa Rica, a stable prosperous country in the Latin American region.

Despite many Costa Rica laws banning gambling, the government has tolerated gambling. However, Costa Rica citizens cannot use any services, so they are not for their own people. However, services for foreign players are provided. Combined with this fact and calm tax system, Costa Rica has become an ideal center for Igaming operators.

The Dominican Republic: Gambling’s Caribbean Colombia

Transferred from a limited law to a more generous law, for example, the Republic of Dominica.

This country is one of the most allowed countries, based on the gambling industry in the Caribbean and Latin America. Except for fantasy rates and virtual sports, all kinds of gambling are legal. The government offers standard licenses for Igaming services. Interesting facts: In the Republic of Dominica, the age of gambling is the lowest in the world.

The Republic of Dominica developed tourism and gambling industries, making it both hot spots. And the government has definitely gained from this advantage. In the Dominican Republic, in addition to $ 230, 000, it costs about $ 230, 000, and a 10 % consumption tax is imposed.

Mexico: The On-Land-Online Connection

Mexico's gambling and lottery (1947) regulates almost all kinds of gambling. However, independent poker rooms and fantasy sports are exceptions.

This law officially prohibits all gambling. However, interpretation creates a space for the effective implementation of gambling services. As a result, after the introduction of the law in 2004, 300 permanent casinos were operating, especially in the Mexican territory, especially in an area adjacent to tourist resorts, making most of the activities.

Igaming is a little different. Neither the Internet nor Igaming had yet to exist in 1947, so it was not regulated by major laws. Nevertheless, casinos and bookmakers are operating in Japan, but there are several reservations.

In order to run online services, you basically need to own a partnership with a ground organization. Igaming's direct adaptation has been completed since 2014, but often comes off. Considering that Igaming is available in conditional, there are few requirements for subsequent formation in this direction.

Hard Stance Nations: Ecuador, Guyana & Venezuela

The three nations with solid beliefs are literally not participating in the Gaming Industry in the Latin American, but one of their own requirements and situations do so.

Ecuador

The Ecuador government blocked all casinos, bookmakers and bingo in 2012, and banned Igaming online services.

An unexpected development was that the main protest against the ban was caused by a former casino employee organization.

Niza-Movement of WorkersAfter 2019Since 2019, to resume the work and role of the gambling company in the Latin American gambling industry.

Guyana

After the adoption of the Gambling Prohibition Law in Gean, most of the exterior of the same affiliated work was banned.

Lottery and pool beds are the only remarkable exceptions stipulated in the current law. Like Costa Rica, the stat e-owned casino is still operated (only two locations). However, they are operated in the hotel and only accept guests.

With regard to the difficulty of being directly prohibited for oggaming, the government has canceled all external service licenses.

Venezuela

In 2011, the Venezuela government banned all gambling companies throughout the country. Eagering cases are more difficult.

Venezuela has no clear law to regulate Igaming. This event gave the opportunity to be used immediatel y-the government itself, which is actually the most surprising.

In 2019, an online casino of the cryptocurrency was released as part of the government's efforts to raise the price of the Peter's cryptocurrency.

Other Cases of Lawful Gambling

Most of the Latin American scope legalization of gambling and the Latin American gambling industry mostly strengthened.

Nicaragua

Since 2001, Nicaragua has operated a legal and regulated physiological institution, for example, casinos and bookmakers.

The main managers in the casino gambling industry are the Casino Gambling Council and the Ministry of Finance and Local Corporation. The state does not pay attention to all opinions, does not bear the prosperity of the industry, and the current scale is MAL.

Panama

In most states, gambling and casinos are resolutely prohibited, but lotteries, amateur games, and poolbetting are recognized. Panama is operated in a revolutionary direction.

Not only casinos, but also sports charges and auto racing can be done on the Internet or offline. However, lottery lottery, races on jumping platforms, and other events are prohibited or allowed at the discretion of the licenser.

Peru

Peru is still following Panama's example and declared the ban on casinos, slot machines, and lotteries.

In this country, more strict standards are applied, and sports betting is still prohibited. Currently, online services remain out of the law, but also provide illegal jobs. Igaming-Adjustment gives patchwork faster than the general set of law.

For example, INTRALOT PERU, Corporacion Galena, MOTERRICO HIPPPODROME. Apart from this, online services need to pay 20 % tax to personal GGRs. However, it is not clear how the government will secure tax compliance.

Paraguay

Paraguay has a few accurate examples of the Gambling industry in the Latin America because it allows gambling and actually levies it.

Sportsbetting is only once by calling the United States, which is less than $ 4 million from tax. In 2016, several configurations related to Igaming were included in the law, and new taxes were introduced in 2021.

Uruguay

Uruguay is another case where legality does not match the legal agreement. Online and offline businesses have all the opportunities to work in the nation. With a personal interest agreement, you can get this right in any case.

At the same time, the offline market is under the monopoly and strict management of the country. Similarly, after 2018Nationwide lottery, about 5 minutesIt is considered a single official organization that has the ability to legally make a proposal. One belief, it complies with the Costarikan rules. Online operators have any chance to open a store in the Monte Video's free trade zone, but if you make a suggestion to someone, Uruguay will not be counted.

Looking Towards the Future

As a result, the relative gambling industries and laws of Latin America can implement rational conclusions.

The Latin American economy will focus on gambling proposals and have already passed or passed a coordinated bill.

However, it is worth repeating that Latin America is not the same block. Each state has its own characteristics and is obliged to adapt to gambling.

So at least, at the level of the spread of mobile communicationIt is estimated to reach 73 % in 2025.Iggaming will definitely be seen and will remain in the future. The Latin American gambling industry is the largest part of the operator.

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Elim Poon - Journalist, Creative Writer

Last modified: 27.08.2024

Sports betting is on the rise in the Latin American (LatAm) market. The industry has enjoyed an increase in popularity all over the globe in recent years. Gambling in Latin America has traditionally been dominated by small The market is localised despite the shared language in Central and South America. We will discuss the current operator revenue and industry size, the existing legislation in the largest markets, and potential developments.

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