Latin America
Online Update
Legislators in a number of jurisdictions in Latin America are making significant headway in regulating the online market. In a surprise development major changes are on the way in Brazil while in Argentina the government of Buenos Aires province has given online gambling the green light in order to generate much needed additional tax revenue. Meanwhile the regulated online market in Colombia has proven to be one of the industry’s bright spots in the region. But while progress has been made in some countries others lag significantly behind and Latin America continues to present an extremely varied picture when it comes to online regulation. In addition currency devaluation, rising inflation and growing economic as well as rising political uncertainty often makes it hard to predict how governments will regulate the market.
However, the potential of the market is undeniable and governments are starting to
P36 NEWSWIRE / INTERACTIVE / MARKET DATA
Argentina, Bolivia, Brazil, Chile, Colombia, Mexico, Paraguay, Peru, and
Uruguay. G3 explores the progress made in online gaming sectors in 2019 across multiple markets in South and Central America
regulate the space more closely. While customers are increasingly better served by a more closely regulated land based casino industry there is still plenty of room for government sanctioned online gambling. Gambling as an entertainment option has gained considerable ground over recent years and attitudes to the industry are far more open than they used to be. Demand is particularly high due to the huge local passion for sports while awareness is being driven forward by increasing presence of online gambling companies via sponsorship deals with football clubs as well as in local media.
So what inroads are legislators making? Where is progress being made? Which jurisdictions look likely to continue to lag behind? What are the most important developments of late and what can we expect to see from the Latin American online gambling market going forward?
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