Latin America is among the top destinations in the world where you can visit a lot of beautiful places. It is where you can find the Inca citadel that is Machu Picchu, the Mayan ruins at the Tulum Archaeological Zone, the famed pyramid structure at Chichén Itzá, and the breathtaking scenery at Iguazu Falls, and so much more.
Beyond these, Latin America or South America, interestingly enough, is also where you can find several online casinos, such as casino Mexico. In this guide, we will look at the rising popularity of online casinos in this wonderful region of the world. Read on.
The State Of Online Casino In Various Countries In South America
The region of South America has been on the radar of online gambling investors for quite some time already. Latin America is a big market with millions of people who have shown interest in playing online casinos and engaging in sports betting.
When talking about the legalization of these games, though, Latin America is a little bit late. While nations like Costa Rica and Panama have had legal online gaming for over a decade now, many countries are still just facing the onslaught of online gaming demand.
Here is a look at the countries in Latin America, and how online casinos and gambling fare in these areas.
Colombia
It was only in 2016 when Colombia legalized online gambling, both on the aspects of online casinos and sports betting. Since then, these industries have tremendously grown, generating around $19.6 million for the government in 2019. Like many sports-loving destinations, the bulk of online gambling revenues in this Latin American nation is from sports betting.
Argentina And Brazil
In the Argentine Republic, the legalization of online gambling is something of a provincial matter. Fourteen of this country’s 14 jurisdictions allow mobile betting, with some also allowing online casinos. Statistically, the industry here is worth an estimated $2.4 billion.
Meanwhile, Latin America’s most populous country, Brazil, legalized online gambling only in 2018 after a year filled with opposition. Licensing efforts have been taking off quite slowly, but the industry is predicted to cross past $1 billion in the coming years.
Mexico, Paraguay, And Peru
In Mexico, the online gambling that is permitted is through land-based businesses. Because of this type of regulation, many Mexicans prefer to bet at sportsbooks and offshore casinos instead. Furthermore, the best Bitcoin casinos are providing a heightened level of security, quality games, and convenient banking, making offshore betting more attractive.
On the other hand, many forms of online gambling in Paraguay are legal. However, the industry here is relatively small, generating only roughly $4 million every year.
In Peru, table games and slots are permitted. However, it strongly prohibits sports betting, races, and lotto games.
Costa Rica And Panama
Online casinos have been promoted in Costa Rica and Panama for several years. In fact, Costa Rica is home to over 400 gambling sites. However, these companies are not able to offer their services to the Costa Ricans.
Generally, similar laws are in Panama. Hundreds of online casinos here obtain their licenses in the country, yet they are able to provide services to outsiders. Investors are incorporating their businesses in this Latin American country because of lower taxes and licensing fees.
Nicaragua And Uruguay
There are many other countries in South America, but right now, we will take a look at the online gambling industry in Nicaragua and Uruguay. Like many other countries in the region, Nicaragua allows all forms of online gambling.
On the other hand, in Uruguay, the country has similar laws but lacks a regulatory body that accordingly manages and controls the industry. At the same time, licensed operators are not able to, by law, accept the Uruguay citizens involved in these activities.
Reasons Why Online Casinos And Gambling Are Popular In Latin America
There is no doubt the gambling industry is on the rise and shows no signs of slowing down. Plus, online gambling is becoming ever more increasingly popular globally. The South American continent is no exception. It is where some of the top online games are. But why do people in this region love online gambling so much? Here are the reasons.
1. Wide Variety Of Games
When you involve yourself in online gambling, it is automatic that you get access to a wide array of games. This is among the great things about these kinds of games. Whether you are a fan of slots, poker, or other games, there is something for everybody. You can find them online. Moreover, if you begin to get bored with a particular game, there are always more to choose from. However, players are advised to ensure the platform they choose has a good reputation and is licensed.
2. Convenience
Of course, who would forget about the convenience that online gambling can offer? Players can gamble right in the comfort of their own residences without the need to travel to the gaming establishment.
All needed are devices with an Internet connection, and you are good to go. This factor applies especially in Brazil, where casinos are fewer than those in other nations and far from each other. Online gambling provides an excellent alternative for people residing in remote areas who do not have the time and the money to travel to a land-based casino.
Plus, online gambling provides 24/7 access. There are no closing hours or last calls. People can play the games they want, whenever, and this is a big advantage that online casinos have over brick-and-mortar gaming establishments, which have their closing hours.
3. Affordability
First off, you will never have to pay for accommodation and travel expenses when you decide to gamble online. You do not have to spend money on your food and drinks since you can play right in your own residence.
The only expenses you have to think about in online gambling are the amount of money you will bet. However, despite this, it is still a very affordable option for individuals who want to gamble but do not have a lot of resources.
4. Several Websites Cater To Spanish Speakers
Players of online casinos can easily land on games and websites tailored to their needs and preferences, such as the language they speak. In addition, many of these websites are known to offer fantastic bonuses and promotions, further adding to the appeal that online gambling can provide.
5. Mobile Gambling
Then, the availability and accessibility of mobile gambling have helped increase the popularity of online gambling in South America. Players can gamble when they are traveling or waiting for the bus on the commute, using their smartphones or tablets. It lets them enjoy all the thrills of gambling wherever they are.
Conclusion
These are only some of the reasons why online gambling is growing in Latin America. With its affordability, convenience, and the wide range of games available, plus more, it is no wonder that more and more individuals prefer to play the games this way. More so, mobile gambling has made it a whole lot easier for players to enjoy online gambling whenever and wherever they are. If you are in search of an incredibly fun way to pass the time, online gambling is the option you can take.