Latam: a Golden Market for iGaming

Latin America is an excellent market for developing a successful iGaming business. This article gives you information to help you decide where to operate. As a B2B platform solutions provider, WA.Technology is committed to supporting gaming operators – in Latam and the rest of the world – with compliant and innovative solutions that always adhere to local regulatory frameworks.

Latinos have diverse customs, but there is no doubt that they like to have fun. They are happy people. They are loud, like to laugh, are technology and digital lovers, and generally look for reasons to enjoy life. Latinos seek enjoyment in a variety of ways. The online gaming business gives people a good dose of digital fun and various ways to hang out wherever and whenever they want.

Let's look at some important reasons that make Latin America the booming market everyone wants to be in.

Population, Economy & Generalities

Brazil and Mexico are the most powerful countries on the continent. However, there are other important markets with very desirable horizons. They add up to more than 660 million inhabitants, equivalent to 8.2% of the world's population, with encouraging figures.

Latam Statistics

Source: World Bank, CEPAL, JP Morgan, BCRA, BCRP 

While Latam countries like Brazil, Mexico, Colombia, and Peru present growing markets. WA.Technology focuses on supporting operators within these legal frameworks, remaining cautious and fully compliant with local laws and legal frameworks.

Social Class

In the last ten years, the middle class has increased and currently occupies 35% of the total population in Latin America. This means increased purchasing power and the possibility of people's willingness to buy online entertainment.

Source: Bain % & Company 2023. Study of iGaming Preferences in Latin Markets

Gaming Incidence

The average gambling incidence is equivalent to 3.5/10. That means, out of every ten people, 3.5 have played in online casinos. Added to this, we see the percentage of spending on leisure activities concerning people’s income reaching up to 37% in urban areas and 39% in provinces.

Source: Zendesk 2023

Network Usability

73% of the Latin American population has a cell phone with online gaming capabilities, surpassing its use by more than eight hours in one country in the region. Studies of online gaming behaviour and usage in Chile, Peru, Colombia and Ecuador.

Source: Play Advisors 2022

Amateur Gamers 

There is a clear trend of preference for the sports betting vertical. This is due to the large number of sports fans, reaching up to 69% in the region. Let’s focus on the studies conducted in Mexico, Argentina, Peru, Colombia, Chile, and Ecuador. 

Here are the percentages per country:














It is estimated that 17% of the South American market is regulated, so various initiatives are in place to legalise and regulate online gambling. Legal gambling generates trust and helps promote the acceptance of gambling.

In general, obtaining a licence in Latin America requires some points to be taken into account, such as demonstrating the company's financial stability, having clear policies against money laundering, and having a transparent platform for responsible gaming. Also, player information, the protection of funds, and technical and operational certifications are essential. Having a local legal entity or its representation, complying with each country's specific regulations in terms of employability, economy and security, and paying local taxes and fees are also essential.

In Argentina, the federative structure of the government allows online gambling to be regulated according to each of its 23 provinces and the autonomous city of Buenos Aires. The general rule is that online gambling is prohibited if it is not allowed locally.

Currently, 17 of the 23 provinces have regulated iGaming. However, only 15 of them are operational (Tucumán, Chaco, Misiones, Corrientes, Entre Ríos, Santa Fe, San Luis, Province of Buenos Aires, City of Buenos Aires, La Pampa, Mendoza, Neuquén, Río Negro, Chubut, and Santa Cruz), while in Formosa and Córdoba it is still pending its implementation. The latter two jurisdictions have already held elections, where the local ruling parties triumphed and will continue to lead their respective governments. Two other provinces (Salta and Jujuy) are discussing regulation. At the same time, the remaining five (Catamarca, La Rioja, Santiago del Estero, San Juan and Tierra del Fuego) have no intention of regulating iGaming for the time being. In other words, they are allowed, regulated, and active in most provinces, but this is still debatable elsewhere.

In Brazil, the regulatory environment for iGaming is evolving. WA.Technology is closely monitoring these developments to align its offerings with any new regulatory frameworks that emerge. Bill No. 2796/2021, known as ‘Marco Legal dos Games’, was approved by the Education Committee of the Federal Senate and moved to the next stage. The country is tenth in terms of participation in the world and the first electronic games market in Latin America. The current text recognises the electronic games market as an economic activity regulating manufacture, importation, commercialisation, development and commercial use.

Colombia has been a leader in establishing regulatory frameworks for online gaming in the region. WA.Technology is committed to staying abreast of these regulations to provide compliant solutions to its partners.  According to the regulator Coljuegos, during the fourth quarter of 2023, around 217,000 million Colombian pesos were collected, a little more than US$ 56 million from face-to-face and online gaming. The numbers have been rising year after year, and the growth of online gaming has been sustained.

Mexico's online gaming landscape is diverse. As regulatory frameworks evolve, WA.Technology focuses on supporting operators in compliance with existing and future regulations. Some operators function illegally and generate enormous losses for the Mexican government regarding tax collection. The Ministry of the Interior (SEGOB), through the General Directorate of Gaming and Sweepstakes, is responsible for issuing licences and permits to online casinos seeking to operate in Mexican territory. Any online casino operating in the territory must have a licence issued by this entity and submit to its rules regarding safe gaming and fiscal transparency. The cost of the licence is US$250k.

Peru is navigating through changes in its regulatory stance on online gambling. WA.Technology closely monitors these changes to ensure its services remain compliant and relevant. The legality of online gambling has continued with the enactment of Law No. 31806, which modifies certain aspects of the law regulating online gambling and sports betting. The country projects to close this year with 25% of the regulated market, which will have to contribute a tax of 12% of net income.

Source: Mincetur 2024

The regulatory environment for iGaming in Latam countries is diverse and evolving. We encourage operators to stay informed and compliant with the local regulations.

Projected Growth of the Sector 

The online gambling market in Latin America will grow exponentially to $3.4 billion by 2025, yielding the opportunity for unprecedented growth.  

Added to this, visits to online casinos put Brazil and Mexico within the top five, as shown in this study:

Latam Top Visits

Source: Latam Entertainment 2024


Gross Gaming Revenue is the total amount of money a casino gets in each period before deducting operating expenses, taxes, and other fees. In other words, it is the gross revenue the casino generates from wagers placed on its games. GGR is a key metric for measuring a casino's financial performance. The average monthly GGR per player per country is as follows:

  • Mexico: US$110
  • Argentina: US$60
  • Peru: US$110
  • Colombia: US$106
  • Chile: US$67
  • Ecuador: US$97

Means of Payment 

Market studies and data provided by international consulting firms specialising in Latin America indicate that 54% of consumers in the region use digital payment methods, while 46% use cash. Cash, debit, and credit cards (VISA, MASTERCARD, etc.) and transfers are the most used payment methods.

Finding a variety of payment methods not only makes it easier for the player but also generates trust. If we analyse the levels of trust for online purchases, we can see the following percentages for each country:

  • Mexico: 54%
  • Argentina: 76% 
  • Peru: 76%
  • Colombia: 82%
  • Chile: 94%
  • Ecuador: 51% 

WA.Technology is Your Safe Choice

As a B2B provider, WA.Technology is committed to supporting gaming operators with compliant and innovative solutions in various markets, always adhering to the local regulatory frameworks. WA.Technology understands the complexities of different markets and offers expertise to operators navigating these landscapes. What do you think of these figures? In the iGaming field, Latin America is a world of possibilities that can be discovered with a view to exponential growth. If you are thinking of investing in any of these countries, WA.Technology is your safe option!

Data Protection & Privacy Considerations in Latam Markets

As the iGaming industry expands in Latin America, operators will need to understand and adhere to the diverse data protection and privacy laws across the region. Each Latam country has its own set of regulations governing the handling and processing of personal data, and it's crucial for operators to navigate these carefully.

In Brazil, for example, the Lei Geral de Proteção de Dados (LGPD) sets out specific requirements for data processing activities. Similarly, other countries in the region, like Colombia and Mexico, have their own data protection laws with unique compliance obligations.

WA.Technology's role extends beyond offering gaming solutions. B2B provider WA.Technology is committed to assisting operating partners in implementing robust data protection strategies that comply with local laws. This includes providing technologies and platforms that support data security, user consent management, and transparent data handling practices.

It is essential for operators in the iGaming sector to prioritise user privacy and data security. This ensures compliance with legal requirements and helps build trust with users, which is a vital component in the success of any online gaming platform.

At WA.Technology, we constantly update our practices and solutions to align with the evolving data protection landscape in Latam and beyond, ensuring that our partners are well-equipped to provide a safe, secure, and legally compliant gaming experience.

About WA.Technology

WA.Technology is a B2B iGaming solutions provider offering its state-of-the-art iGaming WA.Platform, a fully scalable and customisable solution with 70+ game providers, 6800+ games, and 80+ payment methods.

WA.Technology creates bespoke turnkey solutions and provides iGaming managed services across its WA.Sports, WA.Casino, WA.Fantasy, WA.Lottery, and WA.Poker verticals. WA.Affiliates is a specialised iGaming affiliate management solution for operators. Learn more at


This article has been provided by Latam Entertainment for informational purposes and does not necessarily reflect WA.Technology’s views.

Investments in any market, including Latam, should be made after thoroughly analysing and understanding the local regulatory and market conditions.

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