According to research conducted by iGB and Sportingtech, the gaming market in Latin America will grow up to $30,000,000,000 by 2028.
By the end of 2023, the LatAm total gambling market reached $22bn, up 10% year-on-year. It's estimated volume by the end of 2024 is $24bn.
In fact, the gambling market in Latin America has been growing steadily, except for 2020, when the COVID-19 pandemic took its toll on all industries, markets and businesses.
Judging by the expected GGR prognosis, three LatAm countries will be leading the industry by the end of 2024:
🇧🇷Brazil: $7bn
🇲🇽Mexico: $4,2bn
🇦🇷Argentina: $3bn
However, by 2028, there could be a change in the top three: Peru could emerge as one of the iGaming leaders. Recently, 145 online gambling licence applications were filed in Peru in just 30 days following a new regulating law.
