Online Gambling Is Taking Off in Latin America
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Online gambling is booming in Latin America. Uruguay, Argentina and Mexico are seeing significant growth in the gaming industry. Legalizing all types of gaming throughout Latin American would boost the continent’s gambling industry and the economy.
Latin American gambling regulations are different from those in the EU. In some countries, such as Mexico, gambling is legal and heavily regulated, but in other countries it is completely illegal. This creates a lot of confusion for players who want to gamble online. The European Union established the European Single Market for Gambling Regulation in 2012. In France, many forms of gambling are legal, including horse racing and most betting games. Germany is more complex, as in 2008 all forms were banned except for horse betting. Spain has amended their gambling laws in recent years to make operators eligible to apply for licenses.
Online gambling is taking off in Latin America. The gambling industry in the region is expanding at the fastest rate. However, over 50% of the population lives in Brazil. There are many states and districts in South America with different gambling laws. In 2020, the income from land-based gambling will rise to €50.8 billion. This is an increase of 0.4 percent. It is expected that the offshore market will account for 17.3 percent of Europe’s online gambling.
Online gambling is taking off in Latin America. South American gaming regulations are infamously out of date. Most popular gambling products are poker, dominoes and betting on sporting events.
The future of online gambling in LatAm is difficult to predict. There is potential for growth as more people become comfortable with online transactions. Betsson Group, one of the world's largest iGaming companies, has expanded into Latin America and established themselves as a leading brand for casino and sports betting in Peru.
