Developing an iGaming Project in Latin America: Secrets of Profitability

Andrew Price
Posted by Andrew Price
2WinPower Partner, owner of the gambling establishments network.
Updated: 20/09/2022

The success of the gambling operation in different parts of the world is now possible thanks to global technological advancement. Latin America is one of the best examples. New web platforms open here regularly, trying to achieve success in Brazil, Chile, Argentina, and more promising markets.

The possibilities to launch a gaming site or a betting platform are plentiful. However, while an individual elaboration requires many resources and substantial experience, novice entrepreneurs can resort to assistance from a professional guide company.

Latin American gambling: market profitability

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Market Conditions

One of the biggest resources of the Latin American environment is its untapped clients. Residents of Colombia, Mexico, Peru, and neighbouring states are looking forward to accessing quality casino portals. That is why progressive operators are willing to enter this region with legal entertainment and start offering their services.

Key factors for the improvement of the iGaming condition in the locality:

  1. Brazil is in its final stage of sports wagering legalisation. The high popularity of football makes the country’s bookmaker industry poised to become the biggest internationally.
  2. As of 2022, almost 75% of all people in this part of the world can access the Internet. It is significantly greater than in Africa and on the same level as Asia (with such countries as Japan and its 97%).
  3. Quite similar statistics concern smartphone penetration. The percentage of mobile users in Latin America is close to 72%. Since a lot of gambling brands now focus on smartphones, this is a great foundation for online casinos.
  4. Considering the population of around 667 million, the region has a very narrow language distribution. More than 425 million people (64%) talk in Spanish or Portuguese. Moreover, the majority of residents understand English as well.
  5. The unique gambling culture evokes diversification of entertainment. The necessity to offer adjusted casino and betting activities gives the players the possibility to experience more entertainment variety.

Colombia, for example, has already adapted the legal iGaming industry to its realities. Operators can freely access the market and apply for official gambling affairs at the local commission. For a lot of jurisdictions, Colombia is a role model that successfully implemented the most demanded amusement in the world.

Foolproof Approach to Successful Work in Latin America

Gambling in Latin America: development

Besides a standard iGaming portal elaboration, a manager has to consider a few crucial aspects to take care of. They will guarantee the success of the project in the region and make the business profitable for years.

Crucial elements to keep in mind while developing a platform in Latin America:

  1. Mobile-friendly interaction. The expansion of smartphone ownership is not the only reason why this is an important aspect of platform development. Just a small percentage of Latin American residents have household PCs, so the biggest part of sessions are registered through mobile gadgets.
  2. Localisation complexity. Even though the majority of people in the area speak Spanish and Portuguese, unique dialects have developed as well. Besides, localisation is also about types of sports, topicality, and gambling variety.
  3. Unique payment methods. Several Latin American states have developed alternative transaction means for their citizens who have limited access to financial gateways by adapting and innovating: e-wallets, mobile transactions, e-vouchers, etc.
  4. Matching the trends. Online gambling does not only comprise casino activities. One of the biggest directions of its current development is eSports betting. Punters in Latin America like to play and bet on Dota2, CS:GO, Rocket League, and similar world-popular games.

The consideration of these vital aspects in the advancement of a wagering project guarantees success for an operator. In combination with professional elaboration, the portal will quickly become popular among the target audience and will receive solid recognition.

Regulative Measures within Countries

The legalisation of an iGaming company should be the biggest priority for a manager. Illegal operation in modern times is not possible due to intense cyber security and players’ trust in certified organisations.

Understanding unique regulative measures in Latin America is highly beneficial for achieving success in the area:

Country

Legal grounds

Argentina

Gambling is developed on a provincial basis. Operators are allowed to offer their services to citizens of individual regions.

IPLyC is the main regulatory body for the biggest area (Buenos Aires). In 2021, it initiated a series of partnerships between local organisations and foreign operators

Brazil

A dedicated commission was created in the country in 2016. Its main aim is to develop principles for the sports betting area.

Casino legislation was ultimately passed two years later. However, its implementation has been constantly delayed and updated

Colombia

The country presents a big opportunity for online wagering projects, with a huge accent on sportsbook sites.

It happened to be the very first country in the fast-developing region to adopt iGaming regulative measures in 2016. Since 2017, gaming and betting projects regularly received local licences

Costa Rica

The governmental bodies allow operators to register their brands in the country. However, these companies can not offer wagering services to residents.

This is why Costa Rica is called a popular offshore jurisdiction. Players from other countries can access such gambling sites and enjoy their favourite entertainment

Apart from these states, other popular destinations for Latin American operations include Ecuador, Chile, Mexico, Peru, and Uruguay. Many countries in the region allow online playing activities, but unique (and sometimes outdated) laws require detailed and individual investigation.

The Main Things about Making a Successful Gaming Project in Latin America

Gaming business in Latin America: key notions

The region where technological progress is actively developing among the locals is destined to be convenient for such an industry as iGaming. Considering how appealing gambling activities are for people in the area, an entrepreneur just needs a stable development process to ensure profitable operation.

The key aspects to keep in mind for working in Latin America:

  • Penetration of the Web (75%) and smartphones (72%) facilitates the advancement of the iGaming niche in the region.
  • The majority of the population speaks Spanish or Portuguese, so adapting the playing environment to these languages is the main concern.
  • To ensure the success of a gambling start-up in the region, an operator has to consider focus on mobile entertainment, localisation complexity, the presence of unique payment methods, and the necessity to adjust to trends.
  • The principles of iGaming legality are different in separate countries, so studying them and adapting to individual regions is important for an operator.

To ensure the steady development of the project, it is beneficial to work with a professional aggregator.

Order turnkey elaboration of an iGaming portal or individual gambling services at the acclaimed market representative 2WinPower.

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Get in touch with our managers for further details and cooperation.

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