Several factors have contributed to the rapid growth of iGaming in South America. The convenience of online platforms allows people to enjoy a variety of games and place bets from the comfort of their homes with just a few clicks. The rise of mobile devices has also made it easier to gamble on the go.

Market trends have played a crucial role, particularly the surge in online sports betting. As more people in the region follow sports events and competitions, there’s been a notable increase in betting on favorite teams and players. Legal reforms have further boosted the industry by making online gambling safer and more regulated in many South American countries.

The online gambling market in South America is on the brink of significant growth, with the number of users expected to reach 10.4 million by 2028. Leading the way are Argentina, Brazil, Colombia, Guyana, Paraguay, and Peru, which are currently the top markets in terms of revenue. With user penetration in the online gambling sector projected to reach 2.1% by 2024, it’s clear that iGaming is becoming increasingly popular across the region.

Despite the cultural diversity across South America, there’s a shared enthusiasm for fun and entertainment. People here are lively, energetic, and tech-savvy, always looking for ways to enjoy life. iGaming offers a perfect mix of digital entertainment and social interaction, allowing people to have fun anytime, anywhere.

This vibrant environment is attracting significant interest from both players and operators, making South America, and especially LATAM, a prime focus for the booming iGaming industry.

Explosive Growth: iGaming Market Trends and Popular Game Choices

User participation in South America's online gambling market is set to reach 2.1% by 2024. This figure underscores the tremendous potential for market expansion as more people explore and engage in online gaming.

The trend is clear: revenue from online gambling across South America is steadily rising, with online sports betting leading the charge. By 2028, the total revenue from online gambling is projected to exceed $8 billion, fueled largely by the rapid growth of online sports betting, which continues to capture a growing share of the market.

Sports betting is quickly becoming a favorite pastime, fueled by South America's deep passion for football. Online gambling platforms have capitalized on this enthusiasm by providing a wide range of sports betting options, particularly for major football leagues and tournaments, driving significant market growth. While sports betting continues to dominate, online casinos are also beginning to draw more players.

The graph below highlights the 2023 revenue distribution across various segments of the online gambling industry in key South American countries, showcasing the significant impact of both online casinos and sports betting.

eSports are rapidly gaining traction, particularly in Brazil. The 2022 IEM Rio tournament highlighted this trend, where Brazilian teams like FURIA Esports, 00 Nation, and Imperial Esports faced off against international competitors in front of passionate fans at Jeunesse Arena, with peak viewership hitting 1.4 million.

Although Brazil boasts top-tier players and a dedicated fan base, government support for esports has been limited. Former sports minister Ana Moser classified esports as entertainment rather than a competitive sport, which excluded it from the General Sports Betting Law's definition of sports. However, this stance may soon evolve, potentially opening the door for betting on these tournaments.

South America: Trends in Average Revenue Per User (ARPU)

The Statista graph reveals significant shifts in the average revenue per user (ARPU) across various online gambling sectors from 2017 to 2028. The online casino sector is seeing substantial growth, with ARPU rising from $48.05 in 2017 to a projected $556.40 by 2028. On the other hand, the online lottery sector is experiencing a steady decline, with ARPU decreasing from $504.80 in 2017 to an expected $285.80 by 2028.

Online sports betting is on a steady climb, projected to reach $652.10 by 2028, outpacing both online casinos and lotteries. This trend highlights the growing preference for sports betting and online casinos in the market.

These numbers underscore the immense potential in South America's vibrant and evolving iGaming market. The demand for new technologies and innovative solutions is increasing, promising enhanced player experiences and more entertainment options. Embracing these advancements is essential for meeting the expectations of South America's tech-savvy, fun-loving audience.

Why Crash Games Are Taking Off in South America

Crash games are gaining huge popularity in South America thanks to their simple rules, fast-paced action, and the control they give players — making them stand out from traditional slots. These games consistently rank among the favorites in the region. At Atlaslive, we understand that players have diverse tastes, so we make sure our platform offers a wide variety of games to suit everyone.

Atlaslive is continually expanding its partnerships with top game providers worldwide. Our casino games portfolio is impressive, with a great mix of games, eye-catching visuals, and a range of bonuses and perks. We currently offer over 10,000 online casino games, live games, virtual sports, lotteries, and tournaments — all in one place. We’ve noticed how popular crash games, slots, and roulette are with players in South America, and we're committed to meeting the needs of our partners by providing all the games their customers love. Right now, the Atlaslive Platform features over 100 crash games, including all the top titles.

Navigating South America's Diverse iGaming Regulations

At Atlaslive, we stay on top of the ever-evolving regulatory landscapes across the South American iGaming market. Each country comes with its own legal requirements and compliance standards, creating both opportunities and challenges for operators. Understanding the unique needs of our partners in these regions is essential.

Brazil, Colombia

Brazil has made significant strides in its regulatory framework. In December 2023, the passing of Bill 3,626/2023 officially legalized online sports betting and casino games. This landmark legislation opens up one of Latin America’s largest economies to regulated iGaming, offering enormous growth potential. As a B2B iGaming platform provider, we recognize the importance of meeting the high demand and regulatory standards set by this new law.

Colombia, on the other hand, has been a trailblazer in gambling regulation within Latin America. Since 2016, the regulatory body Coljuegos has been managing the industry with a strong focus on compliance and responsible gambling. Colombia’s well-established regulatory framework provides a solid foundation for licensing and compliance, making it a reliable market for operators.

Argentina, Peru, and Chile

In Argentina, gambling regulation presents a unique landscape due to its decentralized structure. Regulations vary widely from one province to another, creating a complex patchwork of rules. This decentralized approach poses both challenges and opportunities for operators looking to establish or expand their presence in the market.

Peru is in the process of building its regulatory framework for iGaming. The emerging regulations are shaping the future of online gaming in the country, offering lucrative opportunities for early entrants to tap into the growing demand. While the finalization of the framework is still underway, the finish line is in sight, and many new operators are already showing interest. The government is working on issuing licenses, and once the framework is fully established, it will enable operators to officially launch their businesses.

The Peruvian government has released new regulations for online gambling, effective from 2023, which empower MINCETUR to license and regulate online gaming and sports betting. This framework is designed to ensure fair play, promote responsible gaming, and boost government revenue through a 12% tax on net profits from licensed operators. Although the journey to becoming a fully regulated market is long, Peru is nearing that destination. Currently, user penetration in the online gambling market stands at 2.1%, with a growing interest among Peruvian customers in a diverse range of casino games.

Chile is also moving towards establishing its online gaming regulations. The country has recently introduced licensing systems for online gambling, following the path set by countries like Colombia, Mexico, Panama, and various provinces in Argentina. The Chilean government is working on comprehensive legislation to regulate online casino games and sports betting, with the Ministry of Finance presenting a bill that has already passed its initial stage.

At Atlaslive, we are committed to continuously improving our dynamic iGaming platform by adding new features and tools that operators can easily integrate. Our focus covers every aspect of user experience and market demand, from Sportsbook and casino offerings to payment methods, analytics, and efficient CRM. With our strategic and innovative approach, we ensure our partners are fully equipped to deliver a safe, secure, and legally compliant gaming experience across Latin America.