Latin America
New report into LATAM’s US$5BN betting industry shows massive growth potential and diversity across nations
* Market study by Sherlock Communications of Latin America’s six main economies finds Brazilians and Peruvians bet more than anyone else
* Understanding the legislation and landscapes of each individual country is key to bookmakers successfully operating in the region
* Free bets will attract new customers regardless of the market, but selecting brand ambassadors is not so simple as different countries prefer different profiles
The COVID-19 pandemic has led to the Latin American gambling industry undergoing widespread changes as betting companies migrate online and casinos are forced to close their doors. Now, a new market report into the perspectives and betting practices of the region’s population sheds new light on the present and future growth of an industry already estimated to be worth close to US$5 billion in LATAM.
Published by Sherlock Communications, A Big Bet: The Latin American Betting Market on the Rise studies the region’s six main economies — Argentina, Brazil, Chile, Colombia, Mexico and Peru — and includes a survey of more than 3,000 residents carried out in partnership with Toluna.
While one in four respondents said they have never placed a bet, close to 39 percent of respondents have done so “a few times” and in Brazil and Peru, 18 percent said they bet more than once a week. The report makes clear each country must be analysed within its own context: For example, Brazilians gamble more than any other nationality yet some 20 percent of them — twice as many as Chile and four times as many as Mexico — believe gambling should be illegal in their country.
“Our report shows the need – and indeed desire – for clear and concise regulations,” said Patrick O’Neill, managing partner of Sherlock Communications. “Countries where betting is unregulated is less attractive to international companies as well as more dangerous for customers”.
The report found that when it comes to selecting an ambassador to help attract potential customers, the criteria varies from market to market. A professional player is preferred in Colombia and Brazil, while respondents in Argentina, Chile, Mexico, and Peru believe a TV host would better boost the profile of the bookmaker. More than one in five of all respondents believe a footballer is an effective ambassador, yet even then there are differences as Colombians, for instance, said success is more likely when using a local hero whereas in Peru an international star is preferred.
Latin Americans, however, are in agreement when it comes to what would help make them decide which betting company to use. Some 62 percent of all respondents cited free bets and special offers as the main reason to choose a bookmaker. Only in Colombia was a simple payment system prioritised (60%) over enticing promotions (58%). An easily navigable, mobile-friendly website is another important criteria, as is local language support.
When it comes to casinos, Brazil is the only country among those surveyed where physical establishments are not allowed, although approval and legislation is pending. Brazilian respondents believe, if passed, it could help the economy grow (30%), attract more tourists and money (43%), and generate jobs (40%). There are, however, concerns too: Close to 30% of all those surveyed in the region believe a casino can increase addiction to gambling and even drinking. In Brazil, 23 percent of respondents also believe it could lead to an increase in money laundering.
“The Brazilian government has before it the opportunity to recognize gambling as an economic activity, like 80% of the countries that make up the UN. We argue that the country has the potential for a diversified package of games, in particular we believe in the primary insertion of the urban casinos model that allows capillarity and widespread investments in the various municipalities with a tourist vocation that are spread across the country, representing opportunities for investors in Brazil of the world “, said Olavo Sales da Silveira, Chairman of the Board of ABRABINCS – Brazilian Association of Bingo, Casinos and Similars.
Esportes Gaming Brasil, the group behind the brands Esportes da Sorte and Onabet, has appointed Rita Cunha as Chief Growth Officer (CGO). In her role, she will focus on driving the group’s organic growth, boosting commercial performance, and consolidating data-driven, customer-centric initiatives.
“The iGaming sector is undergoing a period of rapid and highly competitive expansion,” notes Rita Cunha. “I’m excited to join Esportes Gaming Brasil with the mission of transforming data into agile decision-making, strengthening our owned channels, and creating experiences that maximize user value—from the first interaction to long-term relationships,” she explains.
With over 20 years of experience in e-commerce and technology, Rita has built a career leading growth and marketplace strategies at companies such as PicPay—where she led PicPay Shop—as well as stints at Mosaico (Buscapé), Zoom, Passei Direto, and Match.com. Known for her data-driven business mindset, she brings acquisition, retention, and engagement strategies that have consistently delivered exponential results for high-traffic digital companies.
“Rita’s arrival reinforces our strong growth strategy grounded in technology, without compromising the user experience,” says Darwin Filho, CEO of Esportes Gaming Brasil. “Her experience with digital operations, combined with a 360° view of the customer journey, will be essential as we expand our market share in Brazil’s regulated environment.”
Atlaslive, a reliable provider of technology solutions for the iGaming sector, has introduced its latest guide titled “How to Start an iGaming Business in Brazil: The Successful Roadmap.” Created for operators looking to enter or grow within Brazil’s fast-expanding online gambling scene, the guide delivers vital insights for navigating the country’s evolving regulatory environment.
With Brazil now at the forefront of the iGaming landscape in Latin America — thanks to the legalization of sports betting through Law No. 13.756/2018 and subsequent developments — the country is poised for remarkable growth. The Atlaslive guide underscores significant opportunities, emphasizing critical market insights, legal frameworks, licensing requirements, and strategies for successful operations. Key highlights of the guide include:
- Market Overview: A breakdown of Brazil’s vast potential, including forecasts of gross gaming revenue reaching $7.18 billion by the close of 2025.
- Legal Landscape: An overview of the changing regulatory environment and the licensing system governed by Brazil’s Secretariat of Prizes and Bets (SPA).
- Compliance & Taxation: Clear explanations of licensing conditions, compliance protocols, and taxation duties relevant to operators.
- Payment Solutions: A look at preferred local payment options, particularly the widespread use of PIX for instant transactions.
- Marketing Strategies: Approaches to acquiring and retaining players while staying within the bounds of advertising laws.
“As Brazil’s iGaming market matures, operators must be equipped with the right knowledge and tools to navigate its complexities,” said Anastasiia Poltavets, CMO at Atlaslive. “Our guide offers a roadmap that empowers businesses to seize opportunities and ensure compliance in this dynamic landscape.”
With 218.8 million residents and an internet penetration rate surpassing 86%, Brazil represents a lucrative audience for iGaming operators. Atlaslive’s guide serves as a fundamental resource for anyone seeking to thrive in this evolving sector. Gain a strategic edge in Brazil’s iGaming market — download “How to Start an iGaming Business in Brazil: The Successful Roadmap” today.
Aviatrix, the award-winning crash game, has gone live with leading brand Rei do Pitaco in Brazil.
The partnership significantly expands Aviatrix’s reach in one of the world’s most exciting new regulated markets.
Rei do Pitaco is known for its loyal audiences and innovative approach, making it an ideal match for Aviatrix’s unique gameplay.
Anastasia Rimskaya, Chief Account Officer at Aviatrix, said: “We are absolutely delighted to see Rei do Pitaco players in Brazil enjoying Aviatrix. This is a world-class brand with a huge following. A special mention to our dedicated LatAm team, which is on-the-ground ensuring integrations with the best operators across the region.”
João Cordani, Head of Product at Rei do Pitaco, said: “Aviatrix is a game that has a unique style and energy that really stands out, and we’re confident it will quickly become a hit with our players. We’ll be working closely with their team going forward.”
In April, Aviatrix announced it had received full Federal Certification to offer its games to licensed operators in Brazil, as well as acquiring a dedicated certification for the state of Paraná.
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