4 Most Promising Latin American iGaming Markets in 2021
According to the latest research, the most prospective countries in South America are Colombia, Argentina, Brazil, and Peru. These states have good economic indicators and optimal conditions for launching and running entertainment projects.
This country is the largest and most promising market in the South American continent. Even though gaming activities are not legalised here, lots of operators work under offshore licences. The population of the state is over 200 million people. Almost all adult citizens have smartphones and other devices. About 70% of residents have stable internet access. Therefore, this is an ideal target region.
The Brazilian authorities have been working on the development of gaming legislation for a long time. Expected that the gambling law should be adopted as early as 2021.
Brazilian tax legislation was revised and improved in 2018. The estimated tax rate for casino operators and bookmakers will be quite loyal — 0.05% for online projects.
The most popular type of gambling in this country is the betting business. Brazilians often wager on horse racing and football. In addition, online lotteries and poker are allowed here.
The preferences of local gamers in terms of the functionality of online resources are as follows:
Over 48% of Brazilians choose sites with a simple and clear user interface and unobtrusive design. About 56% of players indicate that the main criterion for choosing an online betting resource is the presence of a bonus program and regular promotions. More than 45% of gamblers believe that the convenience and security of payment instruments are of utmost importance. Such financial systems as Boleto Bancario and Pix are popular in Brazil. Besides, players often use bank cards.
This Latin American state ranks 4th in the region in terms of economic development. It has incredibly favourable conditions for the growth of online gambling. The population of the country is about 45 million people. Most Argentinians have uninterrupted access to high-speed Internet.
The most promising regions are:
Buenos Aires; Cordova; Mendoza.
About 70% of all gaming projects are launched in these territories.
The online entertainment business is allowed in 8 Argentine provinces. Gaming activities are regulated at the regional level. To open an online casino or betting business in this country, an operator must obtain an appropriate licence.
The most demanded areas in Argentina are sports betting, casinos, and bingo. About 40% of adult citizens have taken part in bookmaker activities at least once in their lives. Video slots are the most sought-after casino entertainment in Argentina.
Live games are especially demanded here. The closure of land-based establishments in 2020 has provoked a huge increase in interest in this type of gambling.
The important statistics:
User-friendliness of the interface is the main indicator for 49% of Argentine gamblers. About 66% of players consider the availability of bonus options and unique betting offers essential. More than 58% of gamblers believe that the ease of performing financial transactions plays a huge role.
The most popular payment systems in Argentina:
This is the first country to legalise gaming in Latin America. The entertainment industry has been legal in Colombia since 2016. In five years, the volume of the industry has increased by more than 300%. The gaming field’s income is 1.5% of the country's GDP. Columbia is home to over 45 million people. About 64% of citizens have constant access to the Internet. These are excellent indicators for launching new entertainment projects.
Colombian gaming legislation has such specifics:
The main act controlling the gambling industry is Law 643/2001. The government agency Coljuegos is responsible for regulating the entertainment industry and issuing licences. The presence of a universal permit allows an operator to work in different iGaming fields. The activities of unlicensed projects are monitored and blocked by law enforcement agencies.
The most popular types of gambling are as follows:
sports betting — about 84% of the interested audience; lotteries — 43% of users; live casinos — 5% of players.
About 90% of betting enthusiasts focus on local soccer tournaments. International football competitions and other sports are much less in demand in Colombia.
The main preferences of players from this state:
Simple financial operations
60% of players
Bonuses and special offers
58% of punters
45% of gamblers
The most demanded payment services in Colombia are:
Baloto; PSE; Efecty.
This is the smallest country among the considered states. Nevertheless, it has huge potential for the gaming industry’s success. Peru has a population of 33 million. About 66% of residents use mobile communications services. About 55% of Peruvians have permanent internet access. Despite this, the entertainment field is developing quite actively here.
The main body that controls the activities of online casinos is Direccion General de Juegos de Casinos y Maquinas Tragamonedas. The sportsbook business has not yet been legalised in Peru. However, the authorities are working on the improvement of gaming legislation. The government promised to legalise the bookmaker industry soon.
About 88% of all bets placed by Peruvian users are wagers on football competitions. Besides, horse racing is also in demand here. Nonetheless, this niche covers only about 6%.
The average better in Peru is a man between the ages of 20 and 45. In general, the citizens of this country make 150,000 bets a day. It is noteworthy that about 18% of Peruvians have participated in bookmaker activities at least once in their lives.
The local gamblers pay attention to such parameters:
Special offers and bonuses
65% of players
Convenient payment methods
60% of punters
55% of gamers
The most sought-after financial instruments in Peru are:
Visa; Pago Efectivo; MasterCard.
The launch of a gambling business in South America is a perfect solution in modern realities. This region demonstrates decent economic indicators and high public interest in gaming activities. The level of competition in emerging markets is quite low. It is much easier to start an online project here than in the USA or Europe.
The Latin American region is characterised by such features:
the possibility to get a licence and work legally; the popularity of betting and the gradual development of other areas; large population and many active gambling enthusiasts.
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