LATAM FROM A JURISDICTIONAL POINT OF VIEW – Mexico, Argentina and Uruguay
In our last blog, we discus about jurisdictional point of view in Colombia, Peru and Brazil. But in this new era of iGaming, there are much more countries in LatAm, that are ready to expanded possibilities in iGaming industry. Citizens of South American countries have access to the internet and smartphones in the palm of their hands, making access to casino gaming, sports betting and lottery.
Accordingly, most governments in South America have accelerated their efforts to legalize, while regulating and taxing, the increasingly popular gambling industry. Conversely, some countries have responding to the proliferation of online gambling like the American government did in 2006, passing overarching bills to ban the platforms from public use.
So, which are the other “New Colombia” countries in a jurisdictional point of view?
Mexico is also pushing for a fully-regulated online gaming market. Despite the lower house of the country’s Senate passing a comprehensive gambling bill in late 2014, a vote on the bill by the upper house has not yet taken place. The legislation’s passage is unlikely before next year.
When it comes to Argentina, the scene is somewhat more complex. There are currently 24 gambling authorities – one per jurisdiction. Meanwhile, the Argentine Football Association (AFA) is the only entity that’s permitted to offer sports-betting.
In July, Argentine president Mauricio Macri hinted at the possibility of a new federal regulator. The introduction of a legal and regulated sports-betting market in a country known for its sports culture has been discussed and could prove lucrative for operators and affiliates by attracting consumers to bet on safe, verified sites.
As the second smallest nation in South America, more than half of Uruguay’s population resides in the capital city of Montevideo.
The country has long been considered a paragon of the continent’s potential, regularly leading all of Latin America in metrics like democratic participation, freedom of the press, middle class growth, overall prosperity, the dearth of government corruption.
As such, it’s no surprise to learn that Uruguay is home to some of the most effective gambling laws in the world.
The companies partnering with Uruguayan officials under the mixed system need only supply equipment, furnish the casino, and supervise logistics like security and promotion.
Per statistics released by the Uruguayan Casino Control Board, gross gaming revenues within the country climbed to USD$212.7 million in 2015 – representing a rise of seven percent over the previous year. Over that same span, slot parlors generated a net income of USD$36.5 million, or 9.5 percent higher than in 2014.
IGaming is on the proverbial burner for government officials, and has been since 2008, but like many American states are discovering, the creation of a regulatory framework for internet-based casinos and poker rooms is quite difficult. To date, online gambling in the country is considered a “grey area,” with no laws unequivocally banning or permitting the activity for players or operators.
To sum up, with a population of more than half a billion people combined, it is no surprise that the Latin American online gaming industry is generating such big interest. Diversity plays a central role, with player sports preferences and betting interests varying from one country to the other.
This coupled with an ever-evolving regulatory scenario entails for a deep knowledge of all the prerequisites necessary for operators to operate in the region.
However, there is no doubting the potential that the region keeps in hold for operators, especially in sports betting terms. With the prospect of more countries introducing strong regulatory frameworks there is no doubt that the future of the Latin American online gambling industry looks very intriguing for everyone.
For deeper knowledge, download our latest Industry report: https://www.btobet.com/en/latam-a-sportsbook-opportunity-characterized-by-diversity-industry-report