South America has always been a market of interest for gambling producers and online gambling. This is also due to the 427 million people living here, over 75% of whom are eligible for gambling. However, not all South American countries have such permissive legislation when it comes to gambling, some countries having a faster evolution, and others a slower one, still struggling with legalizing gambling. But one thing is certain when it comes to the South American gambling market – it has great potential, which deserves to be exploited by the big gambling producers and online casinos.
Gambling South America – The countries with spectacular evolution
At present, the only Latin American country that is fully regulated when it comes to gambling is Colombia. In fact, this was also the first country to adopt licensing legislation, introduced in September 2016. The first license for online gambling in Colombia was issued in June 2017, by the Colombian gaming authority – Coljuegos. Since then, it is expected that revenues generated by the online gambling market will reach about $ 8 billion in the first years of operation.
In fact, revenues increased by almost 2 thirds only in the first half of this year and it is expected that the evolution of this gambling market in Colombia will have a spectacular evolution in the coming years. The National Fiscal Direction is the one that regulates the gambling market, and in the 2 years, over 3,000 illegal gambling spaces were closed, ensuring in this regard the safety of the players who want to try their luck in casinos. Moreover, gambling in illegal or unlicensed spaces is severely punished by law. Currently, Colombia is the fastest growing country and the one that sets the trends in the gambling industry in South America.
Another country with great development potential when it comes to gambling and online gambling is Argentina. Buenos Aires became the first area where legislation was adopted at the end of last year regulating online gambling and sports betting. All companies wishing to enter the Buenos Aires market must apply for a license and meet 20 requirements. With the legalization of this gambling industry in South America and Argentina, the activities of casinos or gambling halls were removed, thus protecting the players. The evolution of the gambling market in Argentina in the last year is a good one, precisely for this reason, it is expected that this market will be one of the largest in this industry in the coming years.
Brazil is one of the countries with the highest potential not only in South America, but also in the world. However, there is still no well-established legislation regulating the gambling industry, as there are still public consultations on how the country’s legislation on gambling and sports betting should look. , even if a gambling law was adopted by the Brazilian government in 2018.
The strict laws for the South American gambling market in Brazil are due in particular to the government’s position that there is a link between gambling and organized crime and money laundering, even if this has not been proven. Even though there is a high class interest in gambling and the online gambling industry in Brazil, the restrictions imposed by the government have not yet been lifted. However, experts believe that the Brazilian gambling market will be regulated soon, given the high interest in these games, but also the increasing number of foreign operators entering the Latin American da gambling industry. The first step has already been taken, when a draft law was passed through which 30 casinos were legalized.
Suriname – attractive destination for gambling
Suriname is the smallest country on the continent of Latin America, but nonetheless, it was among the first states that legalized gambling and knew how to maximize this potential. The gambling industry is very well regulated in Suriname, poker being one of the popular games among the inhabitants of the country, but also among the tourists who are visiting, here regular poker tournaments are organized.
In 2004, the government launched an offensive action against corruption and money laundering that existed in the gambling industry, but even so, the casinos in Suriname did not suffer much. The casinos are located in the capital of the country and in the largest cities, and the most famous casino