The Latin American Gaming Market to Reach $12.3 Billion by 2028
Content
Analysts predict the Latin American iGaming market will grow to $12.3 billion by 2028, driven by Brazil, Mexico, and Peru as key players.
Analysts Predict Latin America's Gaming Revenue to Reach $12.3 Billion by 2028
According to a report by Vixio Regulatory Intelligence, the regulated iGaming market in Latin America is set for rapid growth in the coming years. By 2028, the region's Gross Gaming Revenue (GGR) is expected to exceed $12.3 billion, a more than fivefold increase compared to current figures.
Key Growth Drivers:
1. Brazil – Market Leader:
The federal sports betting market is expected to launch in 2025.
Brazil's GGR will reach $2.9 billion, accounting for 47% of the region's total market.
114 applications have already been submitted for online casino and sportsbook licenses.
2. Mexico:
The market volume will exceed $2 billion by 2028, up from $1.3 billion in 2024.
Licenses are tied to land-based operators, opening significant commercial opportunities.
3. Colombia and Peru:
Colombia will surpass the $1 billion mark by 2028.
Peru is expected to grow rapidly:
1. 2025: GGR will reach $436 million.
2. 2028: Revenue will hit $850 million.
118 permits have been issued to 63 companies, indicating strong competition in the market.
Reasons for Growth:
Adoption of regulatory frameworks in countries like Colombia, Panama, Peru, and Argentina.
The expected launch and legalization of Brazil's market, the region's largest economy.
Active participation by international operators and investors amidst a stable regulatory system.
Conclusion:
The Latin American market continues to transform into a major iGaming hub. The region offers significant growth potential, particularly in Brazil and Mexico, where stable legislation and investments attract top operators.