News Americas, NEW YORK, NY, Tues. Oct. 5, 2021: The Latin American gambling market is considered to be ripe for the picking. New operators from across the globe have their sights set firmly on this fresh new market, and we know that the first to market usually get the most success – and the strongest foothold.
What makes Latin America tricky is the restrictions and legal framework that gaming operators need to function within.
For those who enjoy traveling and play either online or wish to play in land-based casinos, there are different legal issues for each country within Latin America. This is a similar structure to that of the United States. The fifty states that make up the US are now able to determine their own gambling laws, meaning many states have now legalised online gambling activities which has seen a plethora of gambling providers like Golden Nugget enter the market and offer various bonuses and promotions to American citizens.
Like the US, each of the countries has a different role in the Latin American gambling market, so let’s take a look at some of the areas and what you can expect.
When it comes to the most stringent set of rules, Argentina takes the crown. They have the most complex set of regulations, and while most countries have a single regulation and auditing body – Argentina has 24.
The reason is that 24 is one for each of the 23 provinces and the Buenos Aires.
Until October 2020, the Buenos Aires City Lottery approved the online gaming platform program that Codere presented.
There are a total of seven winning companies. Over the last two years, Santa Fe, Corrientes, and Mendoza green-lit online gambling joined over five other provinces that already had lottery games in action.
Brazil has had sports bettings for several years now; during 2019, the Ministry of Economy began working on the requirement for the regulations. However, 2020 saw many delays to this process.
Brazil is less complicated than some other countries and already has a healthy and active sports betting market. The law 13756/2018 played a crucial role in stopping the exploitation of lotteries in Brazil, and the states received the go-ahead to offer their own sports betting and lotteries.
There are now several state-operated lotteries.
There is often some confusion when it comes to the gambling laws in Mexico. Many people believe that it is either illegal or has a vast grey area.
However, the Gaming Regulations of the Federal Law on Games and Raffles covers taking bets on the internet and has a dedicated chapter for remote betting centers. Not only that but there are also guidelines for the range of licenses available for operating games betting.
There would be one snag if you were hoping to enjoy gaming bonuses and promotions. The legal, ethical framework does not generate promotions, cashback, giving credit, or enticing and encouraging online gamblers to switch platforms.
If there were a blueprint for how gambling and betting could look in Latin America. The first license was issued in 2017 to Wplay – who remained firmly in the market leader role.
Since that first license in 2017, there are now 17 operators. The online games market has some interesting numbers too:
- 5,362 million in 2017
- 37,912 million in 2018
- 78,489 million in 2019
Those million figures are in Colombian pesos. But the increase year on year shows firmly that the market is more than ripe for picking.
Uruguay has one of the most straightforward gambling and betting legislations – there is only one authorized sports betting site, and that site has been around since 2005.
It is prohibited to play in a poker room or casino – yet, the Banca Juegos Oficiales has commercialized online products of betting and lotteries – but is not allowed to operate online casinos.
Perhaps unsurprisingly, this causes millions of Uruguayan residents to gamble on offshore websites. Todo this, they use a VPN.
Best Land-Based Casinos In Latin America
When you are traveling through or visiting Latin America, there is one thing that you can be sure of – the big-name casino resorts are legal.
Ocean Sun Casino, Panama Bay, Panama
A luxurious three-floor casino with a massive selection of casino games, including 600 slot machines and 37 table games. If you have the cash to spend, then the presidential suite is something for you.
Its open terrace makes the perfect location for enjoying its exemplary dining service.
Sun Monticello, Mostazal, Chile
The Sun Monticello is well known because JLo took to the stage and gave an incredible performance on its opening night.
The venue also offers a 5-star hotel and has a plethora of gourmet restaurants, a spa, an exclusive club – and of course, the vast auditorium.
City Center Rosario, Rosario, Argentina
This stunning resort is situated in the Santa Fe province and offers an incredible all-inclusive experience. Boasting the largest casino on the continent, it is worth a visit.
There are a vast 3000 slots, VIP options, 50 gaming tables, disco bars, themed bars, and a dedicated poker room.
As if that wasn’t enough, there is also a wide variety of restaurants, spa facilities, a convention center, and a luxurious hotel.
Luis Lacalle Pou says that they hope that there can be some advancement of the online regulations. Allowing the states to all generate income and to see an increase in employment.
The last few years saw the closure of the land-based casinos and a high rate of job loss. Ultimately, the approval of online betting and gambling could increase the employment rate in Latin America.