Latin America is iGaming’s version of the great white hope. This market, along with the one in Asia, remain relatively untapped and will likely become the next places where wide-spread regulation and growth take place. A report released back in August highlighted that gains that would be made in the Latin American market. Published by Research and Markets it predicted that the market in this part of the world would generate an estimated $150m.
Of the countries in Latin America the largest in land mass is Brazil, already home to the area’s largest lottery market, generating around $4.1bn every year. Add to this the illegal slots and bingo business and the entire market is valued at around $7bn. Now just this past week Brazil has been voting in elections to see who would succeed the popular Luiz Inacio Lula da Silva as President and apart from the new one being a woman thankfully for iGaming she beat out competition from the opposition social democrat.
Dilma Rousseff it’s hoped, in addition to improving the country’s infrastructure, will push through regulation in the gambling sector in order to claw back money for the beleaguered economy. Is an iGaming convention on the same week as carnival just being even cheekier?