Online Gambling in Latin America

Latin America is becoming one of the most strategically important markets for the online gambling industry.

As European and North American markets begin to mature and establish more onerous regulatory environments, operators are looking for new opportunities. Countries such as Colombia, Brazil, Mexico, Peru and Argentina have become new prospects as they move to regulate their online gambling markets.

In this blog, we use Vixio’s interactive map to show you a regulatory overview of the increasingly significant Latin American online gambling market.

Latin America Online Gambling in a Map

Until recently on the periphery of the global online gambling industry, Latin America is now a strategically important region for operators and suppliers seeking out growth opportunities in newly regulating markets.

_{The map above assigns each country a label based on whether the online gambling market is regulated, unregulated, or operating under a state monopoly.}

A regulated country may legalize online gambling through a federal law such as in Colombia, which operates under a traditional European-Style open licensing scheme. Alternatively it may regulate online gambling at the provincial level, with each province having their own distinct licensing framework.

On the unregulated side, a country like Bolivia may have a law passed, but doesn’t have regulations in place, or there are countries like Honduras and Guatemala that do not address online gambling in their legal framework.

And lastly, there are countries that operate through a “state monopoly.” These are countries where there may be a general prohibition on online gambling but with exemptions for online gambling to be offered through state-authorized lotteries, as is the case in Ecuador and Chile.

Vixio subscribers can look at a more in-depth analysis of each countries’ regulatory framework by interacting with the map. The interactive map is a must read for anyone looking to understand Latin America’s online gambling market.

Key Markets to watch:

Brazil: In December 2023, the Brazilian government enacted landmark legislation to legalize online gambling at a national level. Law 14.970 creates a national licensing regime for fixed-odds bets on “real sporting events”, as well as on “virtual online gaming events”, or online casino games.

Brazil has now entered the rulemaking stage of the legalization process, with a number of regulatory ordinances set to be introduced that will address key subjects such as certification requirements, advertising and marketing rules, and permitted online games.

Peru: In June of 2023, Peru’s president signed a bill to thrust Peru into the regulated market of online gambling.  Regulations were published in October 2023 and as of February 2024, operators are now eligible to apply for a license for the right to offer online gambling in the country. For international operators wanting to enter the region, Peru may be looked at as a testing ground that offers lower barriers to entry than Brazil, albeit with a smaller market size.

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