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.
BETBY, the cutting-edge sportsbook provider, has further cemented its position as one of the most innovative suppliers in the sports betting landscape following a standout appearance at SiGMA Americas, the leading event for the iGaming industry in Latin America.
Hosted in São Paulo, Brazil, SiGMA Americas brought together the industry’s most influential stakeholders, with a spotlight on the dynamic and fast-growing Latin American market. BETBY stood out at the event by showcasing the full strength of its flexible sportsbook solution, designed to empower operators with complete control over the betting experience.
A major highlight of the exhibition was BETBY’s showcase of its hyper-localised content capabilities, which empower operators to engage regional audiences with culturally relevant offerings. This strategic focus was exemplified by the industry’s most comprehensive Vaquejada betting solution, a rodeo-style sport particularly popular in northeast Brazil. BETBY’s unique content portfolio, which includes both pre-live markets and an immersive e-sim version of the sport, resonated strongly with operators and attendees. It demonstrated not only a deep understanding of regional preferences, but also the supplier’s ability to create tailored content for any market.
Alongside this, BETBY exhibited continued innovation through its proprietary esports feed BETBY Games, and its comprehensive suite of AI tools AI Labs, which leverages artificial intelligence to deliver personalisation, real-time recommendations, and enhanced operational efficiency.
As further recognition of its ongoing innovation in the iGaming industry, BETBY was honoured with the Best Esports Product award during the SiGMA Americas Awards ceremony. This win underscores BETBY’s vision to redefine the esports betting experience through its BETBY Games solution, which is designed to deliver unmatched flexibility, customisation, and engagement for operators and players.
“This recognition at SiGMA Americas is a proud milestone for our entire team, even though our presence in Brazil this week was about much more than awards,” said Leonid Pertsovskiy, BETBY’s Chief Executive Officer. “It was about connecting with the region, understanding what local players truly value, and showing that we have the technology and vision to meet those needs. We’re building products that scale globally but connect locally, and that’s what sets BETBY apart.”
SOFTSWISS and Rubens Barrichello are launching an exclusive collaboration with the iconic motorsport brand Sparco. The limited-edition collection was revealed at the SiGMA Americas Summit in São Paulo.
Founded in 1977, Sparco aimed to bring more safety and fashion to motorsport. Over the decades, the brand has become synonymous with high-quality racing gear, reflecting its commitment to technology, innovation, and style. Today, Sparco is a globally recognised leader in motorsport apparel and equipment, trusted by professional drivers and racing enthusiasts.
Inspired by Rubens Barrichello’s remarkable racing career, the new Sparco casual-style collection brings together the worlds of motorsport and technology. It is a reminder that real success, whether on a race circuit or in the office, starts with daring to push beyond the limits.
Rubens Barrichello, Non-Executive Director in Latin America at SOFTSWISS, commented: “Sparco was with me at every turn. It’s not just a logo – it’s a symbol of reliability proven by speed. I’m proud to be working with the brand that supported me throughout my career – now in a new format”.
One standout feature of the collection is the number 111. It is instantly recognisable to Barrichello’s fans, as he celebrated numerous racing victories with it on board. Alongside this numeric design element, every item also features Rubens’ personal autograph.
The Office of Sparco Brazil commented: “In Brazil, motorsport isn’t just a sport – it’s part of our cultural DNA. Having a driver like Rubens Barrichello is a point of national pride. This collaboration is our way of capturing the energy that lives on the racetracks of São Paulo. It’s a story of speed, pride, and a uniquely Brazilian spirit”.
Visitors can book a meeting with the SOFTSWISS team until April 10 using this link.
About SOFTSWISS
SOFTSWISS is an international technology company with over 15 years of experience developing innovative solutions for the iGaming industry. SOFTSWISS holds a number of gaming licences and provides comprehensive software for managing iGaming projects. The company’s product portfolio includes the Online Casino Platform, the Game Aggregator with over 27,800 casino games, the Affilka Affiliate Platform, the Sportsbook Software and the Jackpot Aggregator. In 2013, SOFTSWISS revolutionised the industry by introducing the world’s first Bitcoin-optimised online casino solution. The expert team counts over 2,000 employees.
Digitain has been awarded the “Best Interactive Sportsbook Experience 2025” title at the SiGMA Americas Awards in São Paulo, Brazil, for its outstanding innovation and commitment to delivering advanced sports betting solutions.
Digitain, a leading provider of Sportsbook and iGaming solutions, has won in the “Best Interactive Sportsbook Experience 2025” category at the SiGMA Americas Awards. This prestigious recognition highlights Digitain’s relentless drive for innovation, excellence, and its ability to deliver state-of-the-art Sportsbook solutions to its partners.
The SiGMA Americas Awards took place on April 7 during the BiS SiGMA Americas event in São Paulo, Brazil. The awards celebrate the best and brightest companies, recognizing exceptional achievements, groundbreaking innovations, and significant contributions to the industry.
Iain Hutchison, Digitain’s Chief Revenue Officer, stated: “We are honored to receive this award, which marks our fifth major recognition this year. It’s a powerful validation of our commitment to innovation and the strength of the partnerships we’ve built.
At Digitain, we continuously strive to develop forward-thinking Sportsbook solutions that meet the evolving needs of our partners in a highly competitive global market. We remain focused on continuous improvement, ensuring that our partners have access to the best tools and solutions to drive their business forward.”
As Digitain continues its expansion across regulated markets, this award further strengthens its position as a trusted partner for operators seeking a competitive edge in the dynamic field of sports betting.
-
Latest News3 days agoA247 Launch in Brazil Powered by Delasport’s Turnkey Solution
-
Canada5 days agoPlaynetic granted Ontario supplier license
-
Latest News5 days agoAC Milan Announces New Partnership with Reals
-
Latest News5 days agoAll set for the start of the 2025 edition of BiS SiGMA Americas
-
Latest News5 days agoBMM TESTLABS PROMOTES DANIEL MAGARINOS TO SENIOR DIRECTOR, GAMING – LATAM
-
Gambling in the USA4 days agoSky River Casino Guest Wins Half-million Dollars Playing Progressive Blackjack
-
Latest News4 days agoOKTO Sets New Standards in Digital Payments at BIS SIGMA Americas
-
Canada4 days agoELK Studios Expands Partnership with SkillOnNet to Ontario Market