The representatives of Slotegrator and Amigo Gaming expressed their vision of the digital amusement field in Latin America by the end of 2023. They also made some predictions for the next year. Casino Market offers you the ability to order the best software from a famous provider to join the new promising jurisdiction or expand your business elsewhere.
Key Insights
The LatAm countries have become the centre of attention for content creators and operators. The high distribution potential, public demand for iGaming products, and convenient legislation create a solid business environment. In 2023, the regional entertainment segment was reported at almost $ 11.80 billion. According to professional forecasts, the growth is about to hit $ 14.75 billion by 2029.
Well-reputed providers and operators try to leave their footprint in Latin America. Building a solid regional presence takes time. That is why brands try to win over local audiences first.
Companies that plan to establish their iGaming business should be familiar with the national legislation and public demand. The country’s cultural background should not be ignored as well, due to the high impact of sports on society. Thus, it becomes possible for businesses to keep their operations smooth from day one.
Gambling legislation experienced slight changes throughout 2023:
- Brazil implemented a temporary policy to take digital entertainment under control.
- Mexico experiences difficulties expanding the grey sector. However, the 33% growth is forecasted within the following years.
- Peru raises charges for iGaming businesses by 3 times or more. The new policy will come into effect by the end of 2023.
- Columbia deals with irresponsible gambling activities by integrating a set of legal norms that allow operators to identify potential threats and give warnings.
- Uruguay offered an iGaming bill that has been heavily criticised.
Prospects of the Brazilian Market
As per the implemented policies, the country requires time to check their effectiveness. Casino sites and bookmakers will pay 18% of the revenue, which may seem a lot. The audience may find more affordable platforms if the tax obligation gets too much to handle. This fact surely influences the local competition and keeps punters in the legal field.
Entertainment brands should act by a strict framework. At this point, it is crucial to communicate with all parties.
Based on the collected information, operators can develop a set of rules in terms of:
- tech advancements;
- economy;
- security;
- taxation;
- employment, etc.
Open a gambling platform in a reliable jurisdiction and enrich it with quality software from top developers. Contact Casino Market’s specialists to buy or rent quality content to approach online punters.
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