Latin America, the Next Online Gambling Frontier?

A study done by Research and Markets found that the potential for online gambling in Latin America is huge. There is an opportunity for online gambling companies to generate a ton of revenue, to the tune of $150 billion per year. Regionally, individuals spend roughly 10 billion on gambling and gaming.

Currently, the largest market in Latin America is Costa Rica. $14.5 billion is generated via online gambling every year. Brazil has a robust lottery market which generates $4.1 billion every year. Bingo and illegal slots are responsible for an additional $7 billion. Argentina is the third largest gaming industry creates $4.5 billion a year. Columbia, Panama, Venezuela and Chile, round out the region.

According to the report, “Despite the recent global crisis, Latin American countries are on a fast track to full economic recovery and it is projected that the region will benefit from a four per cent growth in 2010,” the report continued, “The region’s recovery is the second world’s strongest after Asia, according to the World Bank.” In short, there is money to be made in Latin American for online gambling companies.

 Source:online-casinos.com

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