Mexican sports betting market reaching maturity stage, according to new report

Apuesta Legal Mexico has conducted research that evaluated the interest of Mexican citizens in sports betting over the past 12 months. The study shows that the term "sports betting" has lost relevance in search engines, a result of how the market has evolved, as users search for more specific terms instead of general queries.

The analysis further shows that the term "sports betting" was down 4% in searches between January and June 2024. The term also saw a significant 39% drop between October 2023 and May 2024.

This drop has led Mexico to go from being the country with the most interest in the term "sports betting" in Latin America to now holding fourth place, below Chile, Argentina and Colombia.

However, Apuesta Legal Mexico warned that this doesn't imply that Mexicans have lost interest in sports betting. Instead, the drop is the result of the local betting market evolving, and reaching a maturity stage.

Users now search more advanced terms instead of general ones like "sports betting", which are mostly used during major events such as the Copa América, which tend to draw the attention of newcomers.

According to Apuesta Legal, a majority of local players no longer need general data on what "sports betting" is, while this term is gaining traction in Chile and Argentina, two countries where online betting regulation is comparatively more recent. Instead, Mexican players now favor specific information on issues such as complex betting markets and which bonuses are the most convenient.

This trend is seen as a positive one given that knowledgeable users have a better understanding of the inherent risks of betting, and lower chances of falling prey to problem gambling, according to the report.

Moreover, this trend drives a sustained demand for quality services and products, which ultimately contributes to the healthy growth of the Mexican sports betting industry.

To reach these conclusions, Apuesta Legal analyzed the popularity of the term "sports betting" in the five Latin American countries with the highest gross domestic product (GDP), based on Google Trends data. 

The term "apuestas deportivas" was used for Spanish-speaking countries, while for Brazil, a Portuguese-speaking country, the term "apostas deportivas" was employed.

Lastly, the data was compiled, aggregating the weekly data into monthly figures.