Perspectives of the Mexican and Peruvian Gambling Markets
According to recent studies, Latin America is considered one of the most promising markets for the gaming industry. The local population takes an active part in games of chance and sports betting. However, the gambling business in this region has its specific characteristics, which should be considered by operators before launching new projects in Mexico and Peru. Check out the review of these promising markets prepared by the 2WinPower team.
Mexicans are great gambling enthusiasts. Despite this fact, the government limited the activities of the gaming industry for a long time. Until 1920, representatives of the gambling business had lots of opportunities for getting decent profits, since a significant percentage of their audience consisted of Americans who were looking for a way to play legal games of chance outside the United States.
Nevertheless, after 1935 the gambling laws changed dramatically. The gaming industry faced a lot of restrictions and prohibitions. In fact, all types of gambling have been banned in the country for many years. Citizens get the opportunity to bet on sports only in 1989. In 2000, authorities allowed the activities of some types of slot machines in the state.
The most popular types of gambling among the Mexican population are as follows:
- Sports betting. This entertainment is absolutely legal in Mexico. Besides, local authorities support the development of this area.
- Slot machines. This type of gambling is partially legal. It has many fans throughout Mexico.
- Bingo and lotteries are another legal entertainment available to citizens.
- Underground gambling business. Despite the state ban on betting on bullfighting (as well as cockfights), many residents take part in these risky amusements.
Online gambling is an alternative to real casinos for many residents of Mexico. This type of gaming is available to people of different ages and income levels. It is noteworthy that local authorities issue licenses for launching online projects. However, owners of gambling sites can provide their services only to citizens of other states. At the same time, international online platforms can work freely in Mexico.
It is worth noting that the local gambling business has some key features that should be considered by potential investors:
- The spread of mobile gambling (about 95% of the country's Internet users prefer to use smartphones and tablets).
- Focus on simplicity. The fact is that many Internet users have joined the gambling community quite recently. Therefore, the interface of the gambling website should be as simple and clear as possible.
- National characteristics. Investors must consider the cultural features of Mexico when creating their gaming resources. This applies to website design, linguistic features of the Mexican version of the Spanish language, and sports that are relevant in this country.
Unlike Mexico, Peru is characterized by a loyal attitude of the authorities to the gaming business. Almost all types of gambling are allowed here. It is noteworthy that many countries in Latin America, including Mexico, are trying to use Peru as a model when it comes to the legalization of gambling. The local government allows residents of Peru to launch virtual and ground-based projects in the state. At the same time, foreign operators can work in Peru under the same conditions as local businessmen. The gambling industry brings significant revenues to the state treasury. Therefore, the country's leaders are trying to support the gambling business, in particular sports betting, in every possible way.
Sports betting is considered the most popular entertainment in Peru. It should be noted that the land-based sector makes up the lion's share of the market. It covers about 70% of the industry. Despite this, the online market continues to evolve. Over the past five years, online industry coverage has increased by 20%. According to experts, this trend will continue in subsequent years. Therefore, today is the best time to enter the Peruvian online market. The fact is that this area is represented by a small number of operators. Businessmen can take advantage of this situation to avoid fierce competition and achieve self-sufficiency in the shortest possible time.
The Mexican and Peruvian markets have many differences. Nevertheless, both of them are quite promising for investors. Mexico is appreciated by operators for the opportunity to grow and offer new products to the local audience. Peru is considered a great country for business development due to the full legalization of the gambling industry.
To start working in Latin America efficiently, beginning entrepreneurs need to explore the characteristics of local cultural life, legislation, and the financial sector. This is a lengthy process, but it is necessary to obtain a positive result. The gambling business of each region is developing differently. For example, some sports that are very popular in Europe or the United States will be irrelevant for Latin America. Keep this in mind when preparing to launch a new project.
In order not to make a mistake and get the maximum benefit from entering the Mexican or Peruvian market, it is essential to find a reliable intermediary. 2WinPower has been operating in Latin America for many years.
We are engaged in the development of turnkey gambling resources. Having started working with us, you can be sure that the design of your website, gaming content, and bonus programs will meet the expectations of players from Mexico and Peru. If you want to find out more about the prospects of launching gambling projects in Latin America, contact our manager.