In four years, the regulated online gambling market in Latin America will increase more than fivefold. In 2028, its volume will amount to $12.3 billion, compared to $2.5 billion in 2024. This is according to a new report by electronic payments and gambling agency Vixio.
In the global online gambling industry, the region has long been seen as a nascent market, but now the vast majority of Latin American countries have either introduced regulations or are moving in that direction,” the report says.
As early as next year, the driver of online gaming in the region will be Brazil, where the launch of the regulated market is just around the corner. 114 companies are already waiting for their gambling licenses. It is expected that in 2025 the gross revenue of the country’s market will reach $2.9 billion and will account for 47% of the regulated market in the entire region.
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According to Vixio estimates, the Brazilian figure will grow to $6.3 billion by 2029, and will account for more than half of the total market. Mexico’s market will also grow rapidly, reaching $1.3 billion in 2024 and $2 billion in 2028.
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Colombia and Peru, where the market is still in its infancy, will improve their performance. Thus, Peru recently issued 118 gambling licenses to 63 operators. What’s happening in the world’s biggest casinos? Read international gambling news. However, the market development may be slowed down by the introduction of too strict regulatory norms, such as the ban on advertising in Argentina or changes in licensing rules in Chile.
