Latin America is quickly becoming a point of interest for online gaming operators. Countries like Uruguay, Argentina, and Mexico are experiencing significant growth in the gambling industry as a result of favorable regulation and growing consumer demand.
“We believe that Latin America will eventually become one of the largest regulated online gambling jurisdictions in the world, and we absolutely want to be in as many markets as possible. We have identified several that offer an immediate opportunity for us and, in particular, we are working to make a play in Colombia." According to the statements of David Plumi, regional general director for Spain and Latin America of the PressEnter Group,
The experts behind the casino comparison sites in Chile assure that as soon as a clear regulation arrives in Chile, the country's economy will be positively affected. In addition to this, they ensure that said regulation will protect the most vulnerable casino and online betting players and will eliminate the possibilities of fraud.
In Chile, the Ministry of Finance has proposed to implement a bill for the regularization and legalization of these gambling sites by the end of this year or beginning of 2023.The bill includes licenses for operators to operate legally, taxes on the net earnings of casinos and a percentage of them that must be allocated to the implementation of responsible gaming.
In 2016, Colombia became the first country in Latin America to regulate and legalize gambling, the betting and gambling market has seen steady growth since licenses began to be implemented in 2017. With the regulation of the sector, almost all forms of online betting are regulated, with the exception of online horse racing betting, which can only be operated by Coljuegos (the country's regulatory body).
Mexico has the second strongest economy in Latin America and that is why it was among the first to regulate the betting sector. Almost all forms of online gambling are explicitly regulated, with the exception of fantasy sports (which are permitted, but not explicitly regulated). Online gambling sites do not require an additional license to operate in the country, they just need authorization along with an association with a licensee based on a physical address.
Argentina handles regulation differently, since according to the Supreme Court of Justice of the Nation, it resolved that "questions related to games of chance -and their eventual non-criminal infractions- are not a matter of a federal nature" so each province It is in charge of exclusively legislating the regulation of the activities of betting sites and online casinos. So far online gambling is legal in 14 regions. The last region to take the step to be included in this list is Córdoba, the second most populous province in the country, which will represent a positive change in the economic growth of the region.
