Online gambling has been steadily growing in popularity in South America over the past few years and as of 2023, the industry is thriving, and there are no signs of it slowing down any time soon.
Around the world more and more countries are seeing booms in the industry, raising millions of pounds in taxes as brands such as 777 Casino take off and welcome thousands and thousands of players each day, largely through mobile devices.
One of the key reasons for the growth of online gambling in South America is the increasing accessibility to that technology, reaching a wider audience. In addition, the younger generation is more tech-savvy, and they are more likely to embrace online gambling than their older counterparts.
Increasing Regulations: Key to Success
Alongside this, the growth of online gambling in South America is in part down to the increase in regulations. Several countries have recently legalized online gambling, and this has created a more favourable environment for the industry to thrive. Brazil, for example, recently passed a bill legalizing online sports betting, while Argentina and Colombia have also passed legislation regulating online gambling.
Of course, the growth of online gambling in South America has not been without its challenges. One of the main challenges is the lack of infrastructure in some areas. In some rural areas, for example, internet access is limited, which can make it difficult for people to access online gambling sites. Additionally, there are concerns about problem gambling and addiction, and many countries are taking steps to address these issues.
Despite these challenges, the future of online gambling in South America looks bright. The industry is expected to continue growing in the coming years, with more countries legalizing and regulating online gambling. This growth is expected to be driven by the increasing availability of technology and the growing interest in online gambling among younger generations.
Sports Betting on the Rise
One of the key areas of growth in the South American online gambling industry is sports betting. In countries like Brazil, Argentina, and Colombia, sports betting has become increasingly popular, and many online gambling sites are now offering sports betting options. The popularity of sports betting is expected to continue growing in the coming years, with more people betting on sports like football, basketball, and tennis.
That’s combined with the continued rise of mobile gameplay, which is setting the gambling industry onto a bright pathway in South America, following in the footsteps of Europe, and more recently the USA where revenue is rising at an astronomical rate.
Of course, that can be problematic if players aren’t responsible, but the argument can also be made that the regulations and taxes are providing vital funding to governments in moving infrastructure and amenities forward.
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