Online Gambling in Latin America on the Rise

One of the hottest markets for the online gambling industry is the Latin American market; however it is often neglected by some operators who fail to see its enormous potential and capitalize on it.

There are 33 countries in Latin America with almost 600 million people living in them. Most countries are not as economically stable as EU countries and the US and Canada, but many are emerging economies with a growing number of millionaires and billionaires.

Gambling is a favorite pastime activity in many parts of the continent and in the recent Latin American Gaming & Gambling Report 2011 it was indicated that people spend a large proportion of their income on various gambling activities on an average of US$250 per person per year.

Assuming that two thirds of the population is able adults that would make the Latin American gambling market is worth billions each year and with each passing year the percentage of it that is generated from online gambling rises.

In 2010 reports claimed that the largest online gambling market within Latin America is the Costa Rican market, however 2011 reports state that a shift occurred and now the largest online gambling market is in Mexico.

Mexico's proximity to the US makes it an ideal region of promotion of online gambling products. Other viable markets are Argentina and Brazil, which attract the attention of online gaming operators and cause them to target more products towards these markets.