Thursday 29 September 2022

The Rise of Online Gaming in Latin America

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29 September 2022 - At The Banks - BCCR

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Online gaming is on the rise everywhere but industry experts are tracking Latin America as one of the fastest growing. This is the case for a number of reasons and this is expected to keep rising through 2016 and beyond.

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The legislation that existed in these countries until recent years was highly prohibitive of online gambling and its offshoots. The gaming laws are changing however as the governments realise that they are losing out on revenue by banning it. Some casino operators have already started to move into this area with remote gambling licences making this possible. These big players in the casino world have been operating in Brazil and Mexico as they relax their laws on the pastime. The previous gambling laws in place were incredibly strict in many countries. Last year a man was sentenced to four months in prison for operating a remote gambling site from the US.

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Increased access to alternate payment methods is also a factor that has been key to this growth. As citizens of these territories now have better access to safe payments like PayPal they can gamble with more security. This overview of new casinos that accept PayPal deposits is helpful for any player that wishes to remain safe while playing online. Governments have also been policing these gambling channels with an iron fist, as they don’t want them to be used as a way to money launder.

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The potential market of untapped gamblers in this area is huge and online casinos are doing their best to appeal to these players. As a result there are now more conferences than ever in this area to show off the latest that the industry has to offer. The 600million strong population in these 27 countries are now in prime position to take full advantage of online gambling. Latin America is quickly becoming a Silicon Valley for gambling games developers, as they want to be close to the population that they are designing for.

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