With all eyes on Brazil and beyond, our new iGB LatAm gambling report will offer the industry the most comprehensive source of free information for the region. Latin America has emerged as the hottest market in gaming today. Home to a burgeoning population of over 650 million, the total gambling market across its diverse nations is forecasted to swell to an astounding $30 billion by the year 2028. To ensure industry stakeholders have access to the most current and in-depth information, iGB has collaborated with local experts Sportingtech to present an unparalleled view of the evolving landscape.
The catalyst for this significant endeavor can be traced to the culmination of a complex legislative journey in Brazil to regulate sports betting—a journey that finally reached its endpoint in December 2023 with the enactment of Bill 3,626/2023 into law. This piece of legislation effectively heralds a new era where wagering and iGaming become part of the regulated fold, with the Brazilian government initiating a meticulous four-step phase to pin down the finer details of regulatory oversight, expected to conclude by July. This marks the end of a drawn-out process that was initially kickstarted in December 2018 when then-president Michel Temer greenlighted legislation that set the stage for Congress to hammer out and implement sports betting regulations. It’s taken two presidential successors to see the process through, but at long last, Brazil’s market stands on the brink of full-fledged operation.
Slated for release tomorrow, April 25th, the comprehensive report delves into diverse markets spanning from Brazil to other rising Latin American contenders. Our analysis dives deep into already regulated territories like Mexico and Colombia, providing thorough insights into their mature markets. The report goes further, scrutinizing the eclectic regulatory environment within Argentina and shining a spotlight on Peru and Chile, two nations rapidly gaining traction in the gaming arena. Peru, in particular, is pegged as a formidable underdog in the region. With its well-established regulatory apparatus, this country of 33 million inhabitants is quickly carving out a reputation for itself, poised to become the third-largest market in Latin America. This is evidenced by the remarkable influx of 145 license requests in a mere 30 days.
The opportunities, however, extend well beyond these borders. Our report also hints at the potential of other territories such as Uruguay and Paraguay, promising that these markets may feature more prominently in future editions of the report.
Crafted in concert with Sportingtech, our dossier is painstakingly designed to furnish a foundational understanding of pivotal developments across South and Central America. Our partnership with H2 Gambling Capital enriches this offering, leveraging their data-centric expertise to forge a vision of what the future holds for LatAm’s gambling sector. This publication is intended to be the first in a series of informative guides tailored for those invested in the region’s prospects.
As Latin America continues to open its doors to legal gambling, the potential for growth and innovation in the industry is unprecedented. With our comprehensive report, stakeholders, investors, and operators in the gaming industry will be armed with crucial information to navigate this promising but complex territory. Emphasizing data-driven analysis and local expertise, the iGB LatAm gambling report is positioned to become the premier source for insights into an exciting and evolving market. Keep an eye out for the report’s release tomorrow, as it promises to shed light on a rapidly changing landscape poised for substantial economic contributions and entertainment evolution in the region.
