LATAM is a region with a rich history and growing population. When you think of Latin America, you may consider them as a region with quite a similar culture, traditions and laws. But this is not exactly a case when it comes to laws, especially gambling laws. Each country in Latin America represents a unique view on gambling and threatens it differently depending on the historical aspect.
If you are here, then it is highly likely that you are interested to know more about the common things and differences LATAM countries share regarding the gambling industry and why some countries succeed in legislation while others struggle with restricting the casino industry.
Gambling laws in LATAM are way too far from being unified. Each country handles the industry differently based on its legal system, religious and cultural aspects. This causes LATAM to look like a patchwork in terms of gambling laws, making it hard to speak of a single LATAM gambling landscape.
Gambling is legal in Mexico and Colombia. They have plenty of local casinos, sports betting sites, and lotteries operating under clear licensing systems. On the other, Brazil and Peru have quite a limited legal framework and are still in the middle of updating their gambling laws. Venezuela and Ecuador restrict the casino industry and only allow very limited gambling like state lotteries.
Situation gets even more chaotic when it comes to online gambling that is hard to control and almost impossible to restrict. With millions of people moving their daily life routine (from groceries to education) to smartphones, casinos like 777 fun are also ahead of these trends allowing thousands of gamblers to experience traditional casino games on their smartphones on the go. The era of traditional casino houses has come to an end. This trend is pushing governments to rethink outdated laws and introduce new regulations to control digital gambling. But not all LATAM countries have made a noticeable progress towards proper and clear regulation.
Colombia, Mexico, Argentina, and Uruguay allow gambling to operate in a controlled way. Let’s find out what was the blueprint of their strategy towards gaming and the outcomes.
Colombia was the first country in LATAM to regulate online gambling. The government created a licensing body called Coljuegos to handle gambling licenses and collect taxes. This allowed the country to dramatically increase the tax revenue and improve the national healthcare system.
Mexico’s gambling laws rooted way back to the 1940s allowing gambling in many forms such as traditional casinos venues, betting on sports and bingo. They also introduced recent changes in order to have a better control of online gambling. Gambling regulation varies by state, but the government is working hard to make things more uniform to attract more international iGaming operators who provide jobs and tax income to support public programs.
In Argentina gambling is managed at the local level. In reality, this looks as each province decides what kinds of gambling are legal and how to regulate them. Buenos Aires, for example, has licensed online gambling hoping this can help beat illegal gambling. If more provinces follow this approach, Argentina may become one of the biggest markets in the region.
Uruguay also supports legal gambling. They allow traditional casinos, sports betting, and lotteries. The country has strict rules for operators and takes steps to prevent illegal gambling. In return, the gambling industry helps boost tourism and provides steady tax income for the government.
Aside from Colombia, Mexico, Argentina, and Uruguay, gambling remains legally restricted in many other LATAM countries. Venezuela has banned most forms of gambling, shutting down casinos and betting halls across the country. Paraguay and Bolivia allow some form of gambling activities but it is a challenge for the government to enforce regulations. Ecuador banned casinos in 2011 through a national referendum, and no formal changes have taken place since then.
As a result, unregulated gambling has grown in many of these countries. However, the broader regional trend in LATAM is slowly moving toward legalization. In more advanced markets like Colombia and Argentina many see a working model for countries with outdated gambling policies. Although a single regulatory model for all of LATAM is almost impossible, regulated ways to interact with casinos can still improve the situation.
The company was founded in 1916 and now it’s Mexico’s largest sports betting and casino company operates around 200 betting and gaming outlets across Mexico and several neighbouring countries. The business is owned by Jorge Alberto Hank Rhon and operates Caliente Casino, Caliente Online, and Caliente Estadio.
Cirsa is Spain’s largest player in the iGaming industry founded in 1978 and later merged with The Blackstone Group in 2018. They have quite a strong presence in Latin America and it is reported to generate €349.3 million in revenue in Q1 2018.
Betsson Group is a major European online gambling company with a growing presence in LATAM. They penetrated the Mexico market through a partnership with Big Bola Casinos and recently launched online betting in Buenos Aires, Argentina.
The company is one of the largest casino operators in Latin America owned by the Fisher brothers through Nueva Inversiones Pacífico Sur. They operate casinos, hotels, restaurants, and event centers across Chile, Argentina, Colombia, Panama, Peru, and Uruguay.
IGT is a multinational gambling company producing slot machines. They provide gaming tech and services to various operators across Latin America.
Novomatic is an international gambling company from Austria operating about 2,000 casinos and gaming facilities worldwide. They are active in several Latin American countries, offering both land-based and online gaming services.
Caesars Entertainment is one of the leaders in the iGaming niche globally. Originally based in the USA, they expanded into Brazil’s online sports betting market and trying to expand to neighboring countries.
Betplay is a leading online gambling company in Colombia, operated by Corredor Empresarial S.A., accounting for approximately 45% of Colombia’s online gambling revenue in 2020.
Photo: Adolfo Félix, Unsplash
