The Growth Of Online Gambling In Latin America26 April, 2022
After years of scrutinizing the online gaming industry, Latin America is finally starting to open and live up to its full potential. The young population, willing to spend less money per bet, but play more frequently, is about to discover a world full of fun opportunities in this new market. LatAm is an emerging market, and in the upcoming years, it will most likely leave a lasting footprint on the industry.
According to VIXIO GamblingCompliance, online gambling revenue in LatAm should reach the jaw-dropping US$2.6bn by 2025. Not too shabby for a market that experienced less than US$1 billion in revenue in 2020! It is believed that the rocketing numbers will be reached due to the increased level of regulation, as well as the presence of reputable site like Amazon Slots.
Brands like the one we just mentioned operate in regulated markets, thus enabling customers a safe and reliable gaming experience on all levels. As online gambling becomes more regulated, people feel confident enough to play. Until now, we have witnessed the legalization of online gambling in Argentina, Brazil, Colombia, Costa Rica and Panama.
In those markets, European operators (also known as the best in the world) often apply for local licenses or pursue partnerships with local gaming giants to get their slice of this yummy business cake.
However, it is not like the rest of the market is just sitting there and fiddling with their fingers. The Covid-19 pandemic caused delays in online gaming legislation in several countries, including Chile. With pandemics out of the way, the forecasts for further expansion are sunny and bright. The aforementioned Chile has already published the first online gambling bill and introduced a non-renewable online gaming license. Way to go, Chile!
Another factor that shouldn’t be neglected easily is the constant rise of themed slot machines, especially those inspired by the rich cultures of Latin America. Whether you play the Mexican Esqueleto Mariachi slot, which is as spooky as it is cheerful, or tap your feet to the samba rhythm in the Brazilian Rio Stars slot, you will have a great time. In addition to having a great time, Latin American customers will also get a chance to experience something new yet familiar the very first time they step into an online casino.
And while some might argue how LatAm-themed slots rely heavily on cultural appropriation, it cannot be denied that witnessing a part of your own culture on an international gaming platform speaks to many. Brazilians seeing their native tribes, Mexicans being greeted with mariachi music and Día de Muertos skeletons, and Argentinians seeing many passionate tango slots is an opportunity for players to fill more like welcomed. As the number of regulated markets and operators grows, gaming studios will also produce more games that focus on Latin American players. Let’s hope they bring their A-game!
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