Latin America is currently one of the most lucrative emerging online gambling markets. Its residents have access to an ever-increasing selection of online casino games. From online slots to tables games and even poker, there is a lot to choose from. All they will need is a solid platform.
So, what are the factors pushing the growth of poker in Latin America?
When we say that Latin America is an emerging market, this extends well beyond just gambling. Generally speaking, the economies of many of the countries in the continent are growing fast. In addition to accounting for nearly 10 percent of the global GDP, the market population is expected to grow to over 640 million. For gambling, this comes to as many as 300 million potential customers. In addition to that, there is an evolving workforce population that is slowly fostering the emergence of a robust middle class.
In this case, that is the adult population with solid purchasing power. They can not only be able to buy into poker games but also invest in devices that will make that possible. Online poker is more accessible and popular than ever before in the region. That is because the socio-economic situation allows it.
Thanks to such things as tournaments, poker has been portrayed as a luxurious game to play. Everyone of legal age can participate though since the poker operators always have freerolls and promotions. Popular tournaments included the World Series of Poker (WSOP). This has sparked a lot of interest in the game and is pushing it further towards global recognition. A good way of illustrating this is by looking at the rising number of professional poker players in Latin America. Moreover, there are now even region-specific poker tournaments like the Latin American Poker Tour.
Telecom operators in the regions have invested in network coverage expansion. This has, in turn, fostered the growth of mobile usage which is great for online casino operators.
Now, Latin America is a vast market and everything is not going to be streamlined. This mostly applies to the laws which are often the biggest hurdles to the gambling sector. While some places are still holding out on legalizing the activity, many others have warmed up to the idea.
As it stands, countries like Peru and Colombia have legalized online poker. Unsurprisingly, they stand out as the leading online poker markets in Latin America. The strong revenue performance in these countries should be enough to nudge their neighbors to follow in their footsteps. Their residence gamble at offshore poker sites anyway. That is tax revenue that they are missing out on. No one wants that. We can expect mass regularization across the region soon.
Finally, the general outlook for the regulated online gambling industry is quite impressive, to say the least. As it continues to mature, we can look forward to even better projections. With dynamic and lucrative verticals like poker leading the way, those ambitions are just around the corner.
No Copyright infringement intended. Video/Photo Unknown Direct for credits/issue or text us +57 3606412 ... | Respect to Photographers & Influence
