IAGA SUMMIT BELFAST POTENTIAL EXPANSION OPPORTUNITIES LAZCANO SÁMANO
Why does Mexico have the greatest potential in Latin America?
Even though Mexico has an old-standing gaming legal framework that requires certain updates, and like other Latin American jurisdictions, it sometimes is not perceived as one of the most developed or civilized countries in the world, there are many qualities that make the Mexican market one of the most appealing in the whole region for international operators.
For starters, Mexico holds a privileged geographical position: it is literally in the middle of the American continent.
Tis location allows it to maintain closeness to all the countries of the Americas, which translates into greater knowledge of their cultures and, therefore, an unmatched versatility of the Mexican culture itself. In this sense, for example, while Mexico shares the same passion for soccer with several South American countries, it is remarkable that, just in 2023, outside the United States, Mexico was the country with the most Super Bowl viewers .
But that’s not all, Mexicans’ tendency to liking sports is transferred to the sports betting market. According to a recent report of YouGov (a renowned publicly traded company of market research and opinion poll):
“47 per cent of the fans of a sport in the country have downloaded between 10 and 20 apps on their smartphones, a figure statistically higher than the 40 per cent of those who do not follow any sport and the 46 per cent of the national average. Tis suggests that online betting sites have a great growth opportunity in the country within this niche.”
Moreover, Mexico ranks third in the entire continent in terms of population, just behind Brazil and the United States, which also makes the country an attractive market due to the number of potential players.
On the other hand, gaming regulation in Mexico is federal. Tis means that, once approved by the regulatory body (the Ministry of the Interior) all betting games can be offered nationwide. Situation that, on the contrary, can generate different legal, technological, operational, and even marketing challenges, as in countries like the United States –or even in the long-awaited Brazilian market– where sports betting is legal or in process or legalisation, but solely at the state or local level.
Mexico’s gaming industry has been stable during the last 20 years, and it undoubtedly has great growth potential in terms of betting games; sustained upgrowth that has been demonstrated over the last few years and that can be confirmed in the Law on Federal Income for the Fiscal Year of 2023 . In said Law, according to official data, the Mexican Government expects to collect 20 per cent more in 2023 with respect to the immediately previous year for betting games.
Alfredo Lazcano Chair
Lazcano Sámano
Alfredo Lazcano is Chair of Lazcano Sámano, a law firm based in Mexico City. Since 2007, he has been positioned as one of the most experienced and reputable Latin American lawyers in the Gaming Industry and other cutting-edge technology sectors. Alfredo counsels and represents several leading technology companies of the Gaming, Fintech, and Media Industries; most of his Clients are publicly traded companies and hold various regulatory licenses in the strictest jurisdictions over the world.
In 2020, he was appointed by the Federal Mexican Government to assist as an Independent Gaming Expert on matters of national and international relevance. On a regular basis, Alfredo serves as panelist in the main international gaming conferences, as well as with articles, interviews, and studies for the prime industry publications; his contributions – and his overall professional performance– are primarily focused on regulatory improvement, combat against illegal operations, corporate responsibility, protection of vulnerable individuals, as well as best practices and technical standards. He can be reached at +525543587774 or
als@lazcanosamano.com.
“47 per cent of the fans of a sport in the country have downloaded between 10 and 20 apps on their smartphones, a figure
statistically higher than the 40 per cent of those who do not
follow any sport. This suggests that online betting sites have a great growth opportunity in the country within this niche.”
Based on the aforesaid facts, the Mexican market has probably the most promising growth potential in the Latin American region; a good proof of this is that major international operators and reputable brands from other more mature and strict jurisdictions are currently operating and/or in the process of entering Mexico through licensed and regulated operations.
WIRE / PULSE / INSIGHT / REPORTS P75
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