Latest news in online casino and sportsbook regulation in Latin America

In this article, we can analyze some of the latest advances and regulations in the Latin American industry, in Argentina, Brazil and Colombia.

In what countries is betting legal?

Several countries have already legalized online betting with the aim to boost the martket and offer novelties to the players. Colombia was the first country in Latin America in legalizing online betting in 2016. Other countries like Mexico, Argentina and Chile have followed its example.

Those countries have performed great contributions to allow its inhabitants to enjoy this type of bets, but it doesn’t mean they do not regulate them strictly. A casino needs an operating license to operate, which is not always easy to obtain. Besides, gaming operators that have already been authorized must continue abiding strict regulations to maintain the operating license in the country.

The Colombian market

Colombia has set the tone in Latin America, and now other countries consider it as a model to follow in order to enter in the market. In 2019, we can see that the best online casinos in Latin America are located in Colombia. Since 2016, 17 new licenses have been granted in the country, and therefore, other countries are analyzing and considering to follow the Colombian model.

Operators in Mexico and Colombia, such as Alternar, have noted that both markets are completely different. As a consequence, it is not so easy for an operator to adapt to the new markets of the countries that are not so advanced within the online games of chance and sportsbooks legalization.

Latest advances

At the end of 2018, one of the most recent Latin American advances took place: the sportsbook legalization in Brazil. Some time ago, there have been attempts to legalize online casinos, but it has not happened so far.

Other big operators could have access to licenses soon, such as Argentina and Peru. If it occurs, it is expected to have a great impact in the Latin American online sportsbooks and games of chance scenario.

What’s next?

The Latin American scenario is constantly changing as soon as people start increasing the potential of high winnings in the industry. Many operators around the world have witnessed the success in Colombia and wish to take advantage of the upcoming and promising country in legalizing these types of bets.  It is expected that countries in Argentina, Peru and even Brazil are those to follow in the list to change the regulations. Specially, with the arrival of the new president in Brazil, who is willing to make several changes.

Conclusion

The sportsbooks and online casino industry in Latin America is similar to that in US, where the different states set their own rules and regulations. With the legal sportsbooks in US and more states implementing the regulation at a regional level, it is expected it to continue and generate a domino effect in Latin America.