The Latin America Online Gambling Market was valued at approximately US$ 12.18 billion in 2023, with an expected growth rate of 3.23% CAGR during the forecast period.
Latin America Online Gambling Market Overview:
Latin America has long been a key region for online gambling investors due to its vast population and widespread interest in sports betting and online casino games. Although the region was slower to adopt legalization, some countries, such as Costa Rica and Panama, have regulated online gambling for over a decade. However, many other Latin American countries are now seeing a significant rise in demand for online gaming and betting.
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Where Online Gambling is Legal in Latin America: Only a handful of countries in Latin America have fully legalized online gambling. Key examples include:
Colombia
Colombia legalized online gambling, including sports betting and online casinos, in 2016. Since then, the sector has seen rapid growth, generating $19.6 million in revenue for the government by 2019. As in many other countries with a strong sports culture, sports betting is a major contributor to Colombia’s online gambling market.
Argentina and Brazil
In Argentina, the legalization of online gambling is determined at the provincial level. Currently, mobile betting is legal in 14 of the country’s 24 provinces, with some also permitting online casinos. According to research, the iGaming sector in Argentina is valued at $2.4 billion. Brazil, the most populous country in Latin America, legalized online gambling in 2018 after years of resistance. While the licensing process has been slow, the industry is expected to surpass $1 billion in the coming years.
Latin America Online Gambling Market Segmentation:
by Type
Sports Betting
Casinos
Poker
Bingo
Others
by Device
Desktop
Mobile
Others
Country Scope
Brazil
Mexico
Colombia
Argentina
Peru
Ecuador
Chile
Rest of Latin America
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Latin America Online Gambling Market Key Players:
William Hill PLC
Bet365 Group Ltd.
Paddy Power Betfair PLC
Betsson AB
Ladbrokes Coral Group PLC
The Stars Group Inc.
888 Holdings PLC
Sky Betting and Gaming
Kindred Group PLC
GVC Holdings PLC
Key questions answered in the Latin America Online Gambling Market are:
- What is Latin America Online Gambling?
- What was the Latin America Online Gambling market size in 2023?
- What is the growth rate of the Latin America Online Gambling Market?
- Which are the factors expected to drive the Latin America Online Gambling market growth?
- What are the different segments of the Latin America Online Gambling Market?
- What growth strategies are the players considering to increase their presence in Latin America Online Gambling?
- What are the upcoming industry applications and trends for the Latin America Online Gambling Market?
- What are the recent industry trends that can be implemented to generate additional revenue streams for the Latin America Online Gambling Market?
- What segments are covered in the Latin America Online Gambling Market?
- Who are the leading companies and what are their portfolios in Latin America Online Gambling Market?
- What segments are covered in the Latin America Online Gambling Market?
- Who are the key players in the Latin America Online Gambling market?
For a detailed overview of this study, click here:https://www.stellarmr.com/report/Latin-America-Online-Gambling-Market/225
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Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2022)
- Past Pricing and price curve by region (2018 to 2022)
- Market Size, Share, Size & Forecast by Different Segment | 2024-2030
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by segment with their sub-segments and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of Business by Region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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