Over the last few years, we’ve seen swathes of gambling operators eye up new opportunities across Latin America – a trend that is showing no signs of slowing down.
To discuss the potential opportunities for sports betting companies across this region, LSports has launched a new report entitled ‘Opportunity knocks: all you need to know about the rapidly growing sports betting industry in Latin America’.
In the report, LSports takes a deep dive into the economic, regulatory, and geographical factors that influence the growth of the gambling industry in this rapidly emerging jurisdiction. It provides valuable insights, updates, and essential tips for operators looking to expand their business in LatAm.
A lucrative opportunity
With a population of more than 650 million people, it’s no wonder that many gambling companies have seen the potential for expansion in Latin America as being an “enormous” opportunity.
The key challenge that many gambling operators face, however, is an ever-changing regulatory landscape. “Despite the increasing demand from the public and the growing accessibility of mobile and internet platforms, regulatory challenges pose the most significant hurdles to discovering the full potential of sports betting in Latin America”, the report reads.
“While some countries have recently enacted legislation to legalise and regulate online gambling, others are in the process of developing or amending their regulations, with factors such as government policies and public acceptance of betting influencing the outcomes.”
The report highlights five markets it believes present opportunities for sports betting operators to “target the top”: Brazil, Mexico, Argentina, Colombia and Chile. With a combined population of over 457 million, these countries “offer the most significant growth potential for players in the industry”, according to the world-leading sports data provider. The report delves deeply into these markets, providing the latest updates on their regulatory status, public acceptance of sports betting, the most popular sports, and more.
Scoring big in LatAm
In its thorough report, LSports outlines several key considerations sportsbooks must keep in mind when expanding into Latin America. Localization of products and services, provision of culturally sensitive customer support, conducting market research, and ensuring compliance with regulations while fully understanding the financial implications they may entail all make the list.
However, something that LSports drew particular attention to is “finding a perfect match” with your data provider, highlighting 11 specific elements to consider when choosing one in LatAm.
You can download LSports report for free HERE and explore your business growth potential in Latin America