News Americas, NEW YORK, NY, Weds. Oct. 19, 2022: Latin America is a region made up of several countries known for many things, particularly for their warm climates and sandy beaches. But Latin Americans enjoy a variety of forms of entertainment such as watching and betting on sports and playing casino games.
Casino sites such as CasinoEncyclopedia will offer these players a variety of slots, roulette, baccarat, blackjack, and other casino games. Many operators are present in the Latin America market as it’s got huge potential. But different people prefer different things which are why the gaming sector in Latin America is so vast.
1. Argentina – $2.4 billion
Argentina is the top iGaming market in Latin America although playing casino games is legal in just 15 provinces. The iGaming sector as well as the sports betting one brings in a $2.4 billion revenue each year. It may not have as much population as other Latin American countries, but what it lacks in numbers, it makes up in revenue.
2. Brazil – over $1 billion
The thing about Brazil is that it’s the country with the biggest population in the Latin American sector. This chunk of the market seems to have a thing for sports betting, as lots of Brazilians are avid sports fans. 63% of the population have access to mobile technology which is why betting on the go is the most popular kind of betting. Finally, the online betting market is worth over $1 billion dollars.
3. Mexico – $300 million
Sure you can visit Mexico for the Day of the Dead and witness many attractions, but did you know that Mexico comes third in the Latin American Gaming market? When it comes to the online gaming sector, it brings roughly $300 million in revenue annually. Besides iGaming, Mexicans also enjoy a fair share of sports betting which is another gaming sector flourishing in that market.
4. Colombia – $200 million
Colombia may be fourth on the list, but it’s a market that contributes a significant amount to the Latin American gaming sector. In 2020 alone, the gaming market revenue was estimated to be $200 million. Columbians like betting on sports, but they don’t shy away from casino games as well. Similar to Brazil, they like gaming on the go as statistics show a 56% mobile penetration in the Columbian nation.
These are the 4 biggest countries in the Latin American Gaming market according to gaming revenue and the different trends in them.