razil’s sports betting market alone is expected to be worth more than US$1bn in revenue once new legislation passed in December 2018 is implemented and the market begins to mature, GamblingCompliance forecasts in its ‘Latin America Online Gambling Outlook 2019’ report. The Brazilian market, however, could be worth as much as US$1.56bn under a favorable regulatory climate with strong take-up by consumers.
The report also includes a summary of the regulatory climate for online gambling in other Latin American countries, including Argentina and Colombia. It is being published as both the province and city of Buenos Aires rapidly implement separate legislation to authorize online sports betting and casino-style games.
"With Brazil and the most populous region of Argentina both set to regulate, Latin America has rapidly become more strategically important to the global online gambling industry," said Kristal Rovira, GamblingCompliance’s legal and research director. "Under the right conditions, we expect Brazil could become one of the largest regulated sports betting markets in the world in the coming years. Meanwhile, leading international operators have already signaled their intent to participate in a tender process for licenses in Buenos Aires Province, with the city set to follow soon."