Investigate Latin American Gambling Market: Key Areas, Laws, and Features

The accelerated progress of the iGaming industry across the world is marked by advanced technological development in separate countries. As soon as their residents get access to cheap smartphones, laptops, and desktops, they automatically become potential clients of online casinos.

Latin America is a quickly developing region. Here people are getting used to the fast internet connection and affordable electronics. This incentivises the governments to legalise the gambling business which can eventually become a reliable source of treasury replenishment.

Smart Money offers an in-depth guide on the latest achievements of the region, backed up by the possibility to order a turnkey project in a developing area.

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Innovative Regulations in Brazil

The biggest state on the continent can boast of an audience thirsty not only for casino activities but also for betting. In May 2022, after several years of negotiations, the local authorities finally adopted new regulative measures regarding this type of entertainment.

Key notions of the betting law:

1. Foreign operators are allowed to enter the market and obtain an official licence.
2. The working permit is viable for 5 years.
3. The price of the document is estimated at $4.5 million.
4. All new regulations went live in August 2022.

Casino legislation is still under development. As of September 2022, it is impossible to receive a working permit for online slots in the country. However, operators still can target locals from abroad in case they own corresponding offshore licences.

Unique Gambling Legislation in Mexico

iGaming business possibilities in the country are extensive. The overall estimates show that online casino and betting operators have gathered over $300 million of income in 2021.

Starting a project in Mexico requires an understanding of the local market and detailed knowledge of the niche demand:

Federal Distribution of Argentina

The peculiarities of local gambling regulation are close to the ones that the USA has. 23 federal districts are entitled to decide the legality of all casino and betting activities on their premises. At the same time, it makes operators apply for working licences in each province separately.

As of the end of 2022, 15 federal lands have official gambling laws regarding different manifestations. In 2021, Buenos Aires also introduced the opportunity to collaborate with foreign companies and offer their products within its metropolitan province.

While casino and betting activities are popular in Argentina, the biggest credit is given to sweepstakes entertainment. Companies that have been on the local market for years gather millions of fans. But new brands also quickly gain popularity among Argentinians.

Top three lotteries in the state:

• National Quiniela.
• Quiniela Cordoba.
• Provincial Quiniela.

Gambling Pioneering in Colombia

Among all countries on the continent, this Latin American representative has excelled the most in the casino industry. In 2016, the officials of the state adopted new laws, regulating all gambling manifestations and their legality in the country. This became possible thanks to the progressive audience with more than 70% of them having access to the Internet.

Colombia is a cherished destination for a lot of operators. Clear regulative measures and straightforward interaction with authorities incentivise local and foreign entrepreneurs to join the market. The tax rate is at a favourable 15% while the flat fee is $200,000. Thanks to regular updates to the legislation that match European and US trends, Colombia is a perfect gambling destination on the continent.

Offshore Operation of Costa Rica

One of the most demanded jurisdictions in the international arena mainly focuses on granting working permits to target foreigners. Costa Rica is also known as an offshore country, meaning that an entrepreneur with his licence can operate in different areas around the world.

Unique legislative measures incentivise platform owners to get acquainted with the peculiarities of the jurisdiction to benefit from it the most:

1. Status. Since the country bears the position of an offshore, operators apply here to be able to target people outside the state.
2. Licence type. Instead of applying for a regular permit, online casino managers negotiate the terms of the data processing agreement.
3. Operations with funds. To accept deposits and pay out winnings, a manager has to open an official account in an international bank.
4. Local targeting. Operators with the Costa Rican licence can not work with the country’s audience.
5. Straightforward negotiation. The process of receiving the working permit is easy, quick, and does not have any pitfalls.

The Main Things about Modern Latin American Gambling

Whether it is a development of a new brand or the expansion of an existing iGaming company, this region has a lot to offer. While the market is still fresh, entering it and working with the local audience is highly beneficial.

Key notions to keep in mind about the most popular destinations:

• In Brazil, in May 2022, after several years of negotiations, the local authorities finally adopted new regulative measures regarding sports betting.
• If an operator partners or owns a land-based establishment in Mexico, there is no need to obtain any additional licence to initiate the online activity.
• 23 Argentinian provinces are entitled to regulate all casino and betting activities on their premises.
• In 2016, Colombian officials adopted new laws, regulating all gambling manifestations and their legality in the country.
• Costa Rica, one of the most demanded jurisdictions in the international arena, mainly focuses on granting working permits to target foreigners.

For a smooth entry to the local market, operators are highly recommended to partner with a professional guide company.

Smart Money is a leading gambling aggregator. Our company offers an extensive array of services, including the development of a ready-made platform.

Order a turnkey casino or sports betting platform and enter the Latin American market with a refined gambling portal.

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