The gambling industry may be conventionally correlated with continents, which feature and main difference are the ethnic group, legislation and culture as a whole. The current paper describes the current Latin America’s gambling market state, which total population exceeds 570 million people.
The entire legal base’s predominant part in the current region is based on outdated laws. The key successful and legal gambling markets are represented by Argentina (gambling revenue is about $ 4,5 billion), as well as Colombia, Chile and Mexico, which is confirmed by news reports on the next licensing waves. The largest illegal market is found out in Brazil.
Bolivian legal sector
According to Bolivian National Lottery’s director, located between Brazil and Chile, the country provides all the required conditions for the gambling companies prosperity. About 80 casinos and over 10 thousand slot machines are located here, according to the latest data. The industry development basis was liberal legislation. Some countries provide a rule on the clearly defined gambling institutions number placement, depending on the total population. Bolivia doesn’t have such rule and operators are entitled to open any objects number. Perhaps, the country is not able to compete with some European countries, for example, France, where the casinos number reaches 200 pieces.
Argentina has got over 100 casinos. Gambling online business is allowed here as well. It’s worth mentioning there are some differences depending on the region the casino operates in. Changes in local markets are made by gambling regulators. There is no chance to play in the capital, since here it is prohibited.
Trilenium Casino de Tigre is deemed the largest one worldwide and provides 1800 slot machines and 60 tables. Casino de Buenos Aires is available here as well. It is located on a cruise ship in Buenos Aires port. Horse racing enthusiasts will appreciate the old Hipódromo Argentino de Palermo. Football, golf, boxing, tennis and volleyball bets are especially popular in Argentina.
Slot machines are highly demanded here as well. Codere’s revenue is several billion each year. An additional benefit is Argentines’ ability to play online on offshore websites, which failed to get Argentine license.
Actual Colombi’s laws, adopted in 2016, don’t impose restrictions on the registration obtaining procedure for those companies, applying for a license. The main Colombia’s feature is its open licensing type Almost all online gambling’s types were introduced into the law field in 2016, which served as a good impetus to the gambling expansion. The first online license was issued in 2017. Every year, income from the online sector is growing, but a significant profit part comes from bingo and casino. This year, the country provides approximately 75 land-based casinos and halls with slot machines. Coljuegos is the regulatory authority. Totally 17 online licenses operate in the country, according to the latest data. It’s worth mentioning that Coljuegos is actively fighting unlicensed online games.
The first event, which characterizes the gambling market state in Chile, was an exhibition, dedicated to the gambling industry. It confirmed the liberalization related to the business type. The casino earned more revenue in 2017. Gross revenue from 18 local casinos, as well as seven municipal casinos, amounted to $ 63 million, in the winter of 2019. Today state lotteries bring significant profit. Lottery checks started to be used as lottery tickets in Chile, which is practiced today in lots of countries, for example, Latvia. The authorities control sales transparency such a way.
Today, it is considering a draft law, related to the online gambling licensing, exclusively for online casinos. In addition to traditional poker, roulette, slot machines and blackjack, baccarat – a card game, whose purpose is to collect the maximum points number – is very popular as well. There is a rather large gambling house Playboy Club at The Palms Resort and Casino with an area of 1200 m² in Mexico. The object feature is Chicago style interior in the 50s, which is quite exotic for Mexico. Today, Mexican Congress is going to equalize the online operators and land companies tax. Authorities will consider the excise tax introduction, equal to 20%. Recently, a major UK operator, Bet365 started its operation in Mexico.
Honduras, Paraguay, Uruguay, Panama and Peru
The current countries are not too dynamic. So, the gambling laws in Honduras date back to 1977, and since then they have not changed much, moreover, they do not include online gambling. Thus, players from Honduras visit international online casinos, and they are not responsible. Gambling is legal in Paraguay. But web gambling is prohibited here. However, given the latest news, this may change soon: new gambling laws, affecting interactive gaming sites, were submitted to Congress. Like Honduras, local residents are not responsible for playing in offshore online casinos. The same applies to Uruguay, but whether the online gambling rules will ever be set here, is currently not clear. Today there is no such discussion. Peru, which currently is the foremost jurisdiction for online gambling in Latin America, was notable for success in this regard. Here, online gambling is fully regulated at the federal level. However, the government does not prohibit players from playing on offshore sites. The Republic of Panama regulates online casinos. The relevant licenses issuance here started in 2003. However, lots of them, according to the experts, can’t be called reliable, because local residents prefer to play in offshore institutions, which is legalized.