06
Sep
Report Suggests Latin America Ripe for Online Gambling
Author: Chris // Category: Casino Games
Online casinos and gambling are a big topic in the news in Europe and North America. Online gambling and poker has become all the rage in Europe. Most online casinos and gambling companies have their strongest markets in Europe. Some online casinos and gambling sites market themselves solely to Europeans. Millions of pounds and euros are wagered and won each year. Online gambling is also a headline grabber in North America. The United States, which could be the world’s largest online gambling market is making strides on bringing the activity back. Bills have been introduced in Congress, and been voted on by committees. Politicians have even gone on late night talk shows and discussed the merits of legalizing and regulating online gambling in the U.S. Canada has already done so. British Colombia launched the first online gambling site in Canada, and other provinces have committed to doing the same.
What may be slipping through the cracks is the Central and South American markets. For whatever reason not as much is published about gambling in that region of the world. However, gambling is just as popular there. There are even Latin American series of the major poker tours and tournaments.
A recent report by Research and Markets suggested that Latin American online gambling market could generate close to $150 billion a year. Residents of Central and South America already spend almost $10 billion a year in gambling. Latin America is already home to some online gambling licensing jurisdictions, and most countries look to foreign investments. “Foreign investors usually enjoy equal treatment to domestic residents and in some countries are given added benefits,” stated the report. The report also mentioned that Central and South America could be on the “fast track” for economic re-growth compared to Europe and North America. It cited the World Bank which noted that next to Asia Latin America’s economy is the second strongest. Latin America could be the next online gambling boom.
