Gambling Sphere in South American Markets: Features and Benefits

09 june 2022
Author: James Burton
Source: www.yogonet.com
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Casino Market has conducted an extensive analysis of various South American markets. We will discuss the gaming industry in developing and successful countries.

Gambling business in South America: features

The states of this continent have great ambitions. Residents of the region enjoy such digital entertainment:

On the continent, the policies and legislations of the sector vary greatly from state to state.

Top Markets

On such a large continent, there are many opportunities and some destinations have a lot to offer for new businesses.

Brazil

It is the continent’s largest and most ambitious gambling target. This country has two key features:

  1. 200+ million residents.
  2. Football and betting passion.

On 10 May 2022, Brazilian regulators introduced new rules for obtaining a licence. From August, the cost of a work permit will reach $ 4.5 million. The validity of the approval is 5 years. The innovation will apply to both established market players and those wishing to join.

Despite the crazy love of Brazilians for football, in the region, bets on the following areas are also popular:

  • horse racing;
  • mixed martial arts;
  • basketball.

Mexico

Mexico is by far the second-largest market in Latin America in terms of the economy. The country has 120 million inhabitants, and the gambling market generates about $ 300 million per year.

In the state, several kinds of gaming are presented, such as baccarat or blackjack. Mexicans are also obsessed with football wagering.

There are a large number of regulatory adjustments. Relying on them, on the technical side, many types of entertainment are illicit. However, with different judicial interpretations, gaming organisations are thriving.

Online operators do not require special permits to perform in Mexico. It is enough to authorise and have an alliance with the owner of a land-based casino licence.

Argentina

With a population of 50 million, Argentina has the third-largest economy in South America.

According to the country’s rules, each province has its regulation of gambling. Entrepreneurs can only serve visitors of the area where the licence was obtained.

As of 2022, 15 regions have allowed online casinos to operate in their territories. The largest state, namely Buenos Aires, approved the idea of collaboration of local and foreign brands in 2021.

The most widespread game among Argentines is the lottery. Players also enjoy bingo and betting on some sports:

  • football;
  • basketball;
  • tennis.

Columbia

One of the largest gaming markets is Colombia. The population of the nation is 50 million people, 60% of whom love gambling.

This region is the founder of trends in Latin America. Here, all types of amusements are legal. The industry tax is 15% of GGR. Also, for the work, distributors must pay a flat fee of around $ 175,000.

The Colombian market is in a constant evolution process. Despite a huge selection of amusements, players are continuously looking for new options. All this leads to an endless expansion of operators' range.

Offshore Locations

Offshore jurisdictions for the gambling business

Some countries on the continent attract with inexpensive licences and great opportunities for distributors.

Panama

Panama was one of the first territories to officially allow the operation of the entertainment sector in 1941. The regulatory body is the State Council for the Control of Games, which is attached to the Ministry of Finance.

The cost of the licence in the region is quite low, namely $ 50,000. Moreover, online platforms for foreign players are not taxed. However, insufficient regulatory oversight raises doubts about the permit.

Costa Rica

The centre of offshore operations is Costa Rica. This is facilitated by the fact that local governance prohibits any gambling action on their citizens. However, foreign companies have the access to clients from other jurisdictions with the local «data processing» licence.

Players in the region are limited to table games and slots in land-based locations. However, in the internet space, participants enjoy various entertainment options:

  • bingo;
  • keno;
  • blackjack;
  • roulette;
  • baccarat, etc.

Belize

Belize is very popular among entrepreneurs from:

The entertainment sector is guided by the Gambling Control Commission. This area is one of the cheapest places to get a licence. Its cost is $ 10,000. Meanwhile, the regulator requires a deposit of $ 500,000 as a guarantee against any violation.

Peru

There is no responsible authority in this country to oversee internet casinos. All distributors get international authorisations, mainly from the Malta Gaming Agency or Curacao's regulators.

Locals are more likely to bet on sports than participate in gambling. Some changes have been introduced to the regulation of online sports wagering recently. These improvements are aimed at tighter control of the industry and replenishment of the state budget.

The markets of Bolivia, Ecuador, Guyana and Venezuela have less potential.

The countries of South America are constantly improving their conditions for the entertainment segment. Thus, they are creating a fertile ground for further investment.

Source: www.yogonet.com
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