Now, overseas white labels are becoming more and more prosperous. This is mainly due to the development of the Internet, which enables gamblers to interact with iGaming at zero distance. At the same time, some third-world countries have gradually stabilized their political situation and pursued economic development. Whether it is for political purposes or the needs of the people of the country, the economy is one of the important dimensions to evaluate the performance of the government. The gaming industry is one of the fastest and most direct ways to increase the source of economic income for the authorities. Employment rate, taxation, and market business development: which one does not require the entry of foreign capital to promote the development of the urban economy? Due to the special nature of the gaming industry, the cooperation of the authorities or regions is required. Thus, the supply and demand of the gaming industry in certain regions and countries are fulfilled. Today, the editor of TC-GAMING will talk to you about overseas white label-the major overseas gaming markets. I originally wanted to start from Eastern Europe, but seeing that Brazil’s gaming is now booming, it can already be compared with the previous Vietnamese market. So, let's start with the Latin American gaming market.

Latin America is a diverse region, and its gaming industry is a promising area of ​​development. Gaming in Latin America has done well in terms of expansion in the region in recent years. Meanwhile, several Latin American countries have officially legalized gaming over the past few years. Considering that governments generally do not put their own interests at risk, if there is no market for gambling in their country, then the government will not consider legalizing and regulating it. Therefore, in the future, more countries will introduce policies similar to the regulation of the gaming industry. The editor of TC-GAMING predicts that in the near future, the Latin American gaming market will have amazing growth, which will be an important development trend in the Latin American gaming industry.

As a multicultural, multinational region, the Latin American region has rich entertainment and entertainment needs. In recent years, with the popularization of the Internet and the development of digital technology, the iGaming market and online gambling market in Latin America have shown a trend of rapid growth. There is a certain relationship between these two markets. Although they start from different entertainment perspectives, they are both shaping the local digital entertainment ecosystem and affecting people's culture and consumption habits.

The youth group has shown great interest in digital technology, which has promoted the rapid development of the online gaming market. The popularity of mobile devices and the improvement of high-speed Internet connections have provided people with convenient ways to play games, from casual games to competitive games, including game development, distribution, competitions, etc. The growth of the diverse online game market drives the development of the game industry chain. At the same time, it also drives the development of the online gaming market. The online gambling market in the Latin American region is also expanding with the gradual improvement of the legal and regulatory framework. With the popularity of mobile payment and electronic wallets, the convenience of the online gaming market has increased, attracting Internet users and foreign gaming investors.

The relationship between iGaming and online gambling

1. Digital technology push: Both iGaming and online gambling benefit from the development of digital technology. The proliferation of high-speed Internet and mobile devices has made it easier for these two markets to reach potential users, creating a boom in digital entertainment.
2. Payments and Digital Currencies: Payment methods for iGaming and online gambling are also somewhat similar. Both tend to adopt digital means of payment, such as electronic wallets, cryptocurrencies, etc., providing users with convenient and fast payment methods.
3. Societal Attitudes and Culture: The iGaming and online betting market reflects, to some extent, the entertainment needs and cultural attitudes of society. Both of these reflect the consumption concepts and entertainment methods of the local people to a certain extent.

The Current State of the Latin American iGaming Market

Mobile gaming is the driving force behind the gaming revolution in Latin America, accounting for 48% of market revenue in 2021. With a staggering 273.4 million mobile gamers or 58% of the Latin American online population, it's clear that mobile gaming has captured the hearts and minds of Latin American gamers.

Latin America's growing iGaming and online gambling market. E-Gaming refers to iGaming, while iGaming refers to online gambling. This region of Latin America is very hospitable to the iGaming industry, with almost no language barriers to choose from. With a few exceptions in the Caribbean and the mainland (namely Brazil, Suriname, British Guiana, and French Guiana), Spanish is spoken in the vast majority of Latin American countries. So, in language, you can also say, "eat half of Latin America with one trick." Although the language problem is not too big, the interface operation habits and people's games and habits, culture and religion, etc., may be more considered by the iGaming platform.

According to Statista, total iGaming revenue in Latin America will grow significantly in the coming years. Total iGaming revenue in Brazil is estimated to reach US$1.3 billion by the end of the year, followed by Mexico (US$1.2 billion), Chile (US$354 million), and Colombia (US$303 million).

Nearly half of all mobile gamers in Latin America spend money on games, with Google Play dominating the app store space, accounting for more than 68% of app store revenue, while iOS and third-party stores account for a smaller share.

Mobile gamers have a strong love for core and competitive gaming. Strategy games topped the list, with 35% of players participating, followed by shooters (32%) and racing games (30%). Sci-fi and fantasy themes dominate and fit well with the core and competitive gaming experience. These data can give the gaming platform a reference value in the game recommendation of the slot machine. For example, sci-fi and mythological slot machine-themed games are recommended and equipped with a game-betting strategy.

Driven by the democratization of the Internet and the rise of mobile esports, the mobile gaming market in Latin America is experiencing a boom period of innovation and growth. As this mobile market continues to grow, more and more iGaming platform operators are starting to set their sights on the region. In the unique market of Latin America, a high degree of digitization and mobility has become a distinguishing feature. This digital and mobile trend presents great opportunities for the expansion of iGaming platforms.

Overseas white label-challenges encountered in entering the Latin American gaming market

While every country in Latin America is passionate about gaming, they show different player habits and preferences. Learn about the unique characteristics of different Latin American countries, such as Brazil's unified language and culture creating a more unified market, while Spanish-speaking countries such as Colombia and Argentina exhibit different language and cultural influences.

For example, the preferred social media platforms of users in different regions are different, such as in Spain and Portugal, the proportion of users using YouTube is also different.

By leveraging data and understanding the nuances of each country's gaming market, gaming pioneers and innovators can win the hearts and minds of Latin America's diverse gaming audience. As the gaming industry continues to thrive, the potential for growth and revenue generation is limitless for gaming platforms that embrace the power of data-driven insights.

Gambling Policy in Latin America

All of Latin America is experiencing a revolution in online betting and sports betting. While every country is at a different stage, almost all countries have decided to regulate the gaming industry in order to control the market, protect players, and generate economic resources for their respective governments. As a result, regulatory policies for online gambling vary. For example, Ecuador prohibits gambling but allows the national lottery. Brazil opened up gambling in 22, while other Latin American countries, while not formally regulated, have not actively banned it either. Bolivia and Nicaragua include online gambling in their general regulatory frameworks for the entire gaming industry. In Argentina, online gambling is regulated by the province.

At present, Brazil is the rising star of Latin America, and the Brazilian iGaming market is expanding, which can be seen from the recent popularity of Brazilian white label iGaming. The following is an overview of some countries in the Latin American iGaming market in 2023 compiled by TC-GAMING.

Argentina Gaming Policy

With a population of nearly 46 million, Argentina is the fourth-largest country and second-largest economy in Latin America. The gaming industry is regulated by the province, and gaming operators are only allowed to provide services to residents of the province.

As new jurisdictions continue to legalize the gaming industry and existing judicial regulatory systems mature, gaming operators’ revenues and user base expand. A study by Similarweb of 41 active online gambling sites in Argentina confirms the year-on-year rise in the first half of 2023. As for the betting behavior of bettors, 11.63 pages are viewed per visit, the session lasts an average of 12 minutes and 14 seconds, and the bounce rate is 26.3%.

Similarweb analyzed the traffic of 41 active online gambling websites in Argentina in the first half of 2023. Similarweb verified that the total number of visits to these gambling websites was 311.8 million, an increase of 272.8% compared with the same period in 2022, and the number of visits was 83.65 million.

Brazil Gaming Policy

Brazil, the largest and most populous country in Latin America, is often referred to as a sleeping giant — a country that should have woken up long ago. Gambling legislation was passed in 2018, but implementation of the scheme has been delayed until 2022.

Brazil will have the continent's largest physical and online sports betting market. With a population of over 200 million people (63% of whom have access to a mobile network) and a national passion for sports, especially football, Brazil is a country where dreams come true and is a great opportunity for sports betting platform operators looking to expand into the Latin American market.

The entire online gambling industry has been watching the situation in Brazil closely — and for a good reason; within five years of being legally regulated, the country’s sports betting market is expected to be worth more than US$1 billion.

Chile Gaming Policy

Chile’s Ministry of Finance proposed a bill to regulate online gambling in March 2022. Current regulations prohibit even licensed brick-and-mortar casinos in the country from offering online services. The planned regulations would allow casino gaming and sports betting to raise taxes and keep players safe.

Chile implements a monopoly system, and consumers can only place bets on three gaming companies. Players can place bets on football pools through state-owned gaming monopoly Polla, lottery bets through Lotería de Concepción, and horse racing through Teletrak.

This situation may change in the future, with the Chilean legislature currently considering a bill to regulate iGaming services in the Latin American country.

Colombia Gaming Policy

Colombia is one of the largest economies in Latin America. It is the second-largest flower exporter and the third-largest coffee producer in the world. Colombia is part of the Pacific Alliance trade bloc, partnering with Chile, Mexico, and Peru, and has free trade agreements with the U.S. and several other countries. Colombia has a population of over 50 million and a mobile penetration rate of around 56%. The national passion for football is well documented and presents a huge opportunity for iGaming platforms, especially online sports betting.

Colombia, which became the first country in Latin America to regulate online gambling in 2016, began issuing licenses in 2017, and the gaming and betting market has been growing steadily. With the regulation of the online industry in 2016, almost all forms of betting, whether land-based or online, are now legal in Colombia – with the exception of online horse racing betting; only state regulator Coljuegos and private operators with government charters Businesses can operate match betting.

As the gaming industry continues to grow, Colombian gaming regulator Coljuegos shared gaming financial results for 2022, in which the country collected US$175 million from the industry, an 18% increase from 2021.

Costa Rica Gambling Policy

Costa Rica is considered a mecca for iGaming operators due to its political stability, some of the best infrastructure in the Caribbean - a reliable telecommunications system, and a friendly regulatory environment. While laws in 1922 and 1974 banned any games of a gambling nature, the tacit approval of the authorities has made Costa Rica a hotspot for the iGaming industry.

Authorities allow gaming companies to set up in the country, provided they comply with Costa Rican law, which prohibits them from offering gambling services to Costa Rican citizens. However, they can accept players from other jurisdictions.

The government’s lenient approach to gaming and the absence of taxes on iGaming revenues makes the country extremely attractive to online casino operators; there are an estimated 450 companies related to the iGaming industry in Costa Rica.

There is no regulatory agency in Costa Rica, which means no one will supervise, there are no framed technical specifications, and there are no cumbersome annual inspections and annual reporting requirements for gambling licenses; instead, online casino operators apply for "data processing" licenses, and are often classified as a calling center. However, the Bank of Costa Rica does not process any transactions with online gambling operators located within the country. It means that it is not recognized by the financial system, and it is basically impossible to open a local bank account for your gaming company.

Dominican Republic Gambling Policy

The Dominican Republic is located in the Caribbean Sea. Although it is not considered a traditional offshore jurisdiction and tax haven, it offers benefits to international businesses. The country's tax system is based on territorial principles and is very attractive to a wide range of businesses.

Throughout the second half of the twentieth century, the Dominican Republic's casino industry grew alongside tourism as the government aimed to diversify the country's economy. Gambling was legalized in the 1960s and 1970s, and tax breaks were provided for private companies investing in tourism, including casinos.

In 1999, gaming was officially introduced. After being regulated in 1999, sports betting was further legalized and regulated in 2006. Almost all hotels and resorts in Dominica offer casino gambling. Tourists and locals alike play all kinds of games and have absolutely no aversion to gambling. Due to its favorable tax laws, the Dominican Republic has become a safe haven for many businesses, including casinos. The Dominican Republic gaming license is one of the most popular licenses for iGaming worldwide.

The Dominican Republic has long been considered one of the top locations for online gambling operators to do business. This success is attributed to factors such as a progressive legislative system, political stability, top-notch telecommunications facilities, and a well-established financial services sector.

Ecuador Gambling Policy

In 2012, brick-and-mortar casinos and bingo halls were forced to close, while online gambling was also banned. The decision led to an exodus of nationals and even to neighboring Peru and Colombia to gamble, resulting in a loss of as much as US$45 million. However, in 2019, a group calling itself the "Association of Ex-Casino Workers of Ecuador" began calling for the ban to be lifted and gaming reopened in order to create jobs and tax revenue in the country. The organization's leaders believe that the gaming industry can become one of the important pillars of the country's economy and can also attract more tourists to Ecuador. Despite such calls, government officials do not appear to be considering legislation to re-regulate the gaming industry.

Guyana Gambling Policy

Guyana is a gambling-free country, and gambling is prohibited under the Prevention of Gambling Act, with a few exceptions, such as lotteries and table tennis betting. However, the Guyana government decided in 2007 to relax the ban on gambling, allowing casinos to operate in the country. The move is seen as part of a push to stimulate tourism in Guyana. Currently, there are two casinos in Guyana, and the only people who can participate in gambling are hotel guests. These casinos usually provide a variety of entertainment facilities, such as gaming, catering services, performances, etc., to provide more choices for hotel guests. In addition, casinos have also become an important part of Guyana's tourism industry, attracting tourists from all over the world.

Mexico Gambling Policy

With a population of over 120 million, Mexico has an estimated mobile penetration rate of around 60%. As the second largest economy in Latin America, online gambling and sports betting operators in Mexico are thriving in this land.

Mexico regulates almost all gaming, with the exception of brick-and-mortar card rooms and virtual sports. However, like the rest of Latin America, all lottery and speculative games are popular in Mexico, especially among football bettors.

The main piece of legislation governing gaming in Mexico is the Federal Gaming and Raffles Act of 1947. Full regulations came into effect in 2004 but have been debated several times. More recently, the 2021 publication of guidance on advertising, bonuses, and player loyalty policy standards for gaming operators further refines regulations in this area.

It is worth mentioning that online gaming platforms and sports betting operators in Mexico do not require additional licenses but require authorization and partnerships with physical license holders. This has made Mexico's gaming market more flexible and adaptable, attracting a growing number of operators and investors. Mexico's potential for future development in the gaming sector is enormous.

Nicaragua Gambling Policy

With the exception of racing, virtual sports, and virtual product betting, Nicaragua regulates all forms of gaming, including land-based casinos and online gambling. While brick-and-mortar casinos and online gambling were legalized in 2001, the industry is still underdeveloped in Nicaragua. The political instability in Nicaragua is one of the main reasons for the slow development of the industry. In addition, Nicaragua has a small population of about 6 million, which also limits the development of the industry.

Panama Gambling Policy

Panama is a highly regulated country where almost all gambling is regulated. While gaming operators can offer sports betting, auto race betting, and a full range of casino games, there are some types of betting that are prohibited. These include lotteries, horse racing, amateur events, political elections, and other betting types. However, with the gaming regulatory changes announced in September 2020, Panama has become one of the few countries in Latin America with a fully licensed online gaming market, which means that the iGaming market in Panama will undergo huge changes, attracting More gaming operators to invest. It is a major impetus for Panama's economy and job market and promotes the development and growth of the Panamanian iGaming market.

Paraguay Gambling Policy

Paraguay Gambling Policy Almost all gambling is legal in Paraguay. Nonetheless, the government drafted a bill in 2016 that aimed to update some of the country's gambling legislation, particularly with regard to online gambling. The purpose of the bill is to ensure the legality and transparency of the gaming industry. In 2017, local regulator Conajzar organized a five-year sports betting tender to further regulate the betting market. The tender, one of the largest in Paraguay's history for sports betting, has managed to attract a number of investors and operators. By 2022, Paraguay will repeat this practice again to continue to promote the development and growth of the gaming market.

Peru Gaming Policy

Just in July 2022, the President of Peru signed a new gaming law, officially legalizing sports betting and online gambling. Therefore, online gambling in Peru has been officially legalized. The legalization of online gambling is a key development. This initiative will help boost economic growth and job opportunities in Peru. Also, with the legalization of online gambling, the Peruvian government will be able to better regulate this Peruvian industry. It would also bring in more tax revenue.

Uruguay Gambling Policy

Most gambling in Uruguay is legal, but currently, only the Bank of Uruguayan Quinellas is allowed to offer online gambling. Uruguay is moving towards a developing gambling market status. On August 16, 2022, the Senate voted to create appropriate regulations for online gambling. This decision is aimed at promoting the gaming market in Uruguay and attracting more tourists and investors. This is expected to bring more jobs and boost economic growth.

In 2017, Uruguayans gambled around US$809 million, according to Lottery and Quinella (DNLQ) Director Luis Gama. Sales of all games increased slightly. This shows that the gaming market in Uruguay has great potential and is expected to develop further in the future. That figure represents about 1.3 percent of Uruguay's gross domestic product, according to local daily El País. Therefore, the Uruguayan government should continue to promote the development of the gaming market in order to create more jobs and increase tax revenue.

Venezuela Gambling Policy

iGaming in Venezuela has been legal since 2012 but is regulated by the Venezuelan National Commission of Casinos, Bingo Parlors and Slots (CNC). The CNC is responsible for issuing licenses to operators to ensure that operators adhere to industry standards.

With the continuous development of technology, cryptocurrency casinos are gradually emerging. In 2019, the Venezuelan government approved the operation of a cryptocurrency casino to boost the value of the country’s Petro cryptocurrency. This makes Venezuela one of the few countries in the world that allows cryptocurrency gambling. Cryptocurrency casinos provide players with greater security and privacy while also bringing more opportunities and room for growth to the country’s economy.

Summary

Latin America is a thriving overseas gaming market driven by mobile and Internet penetration across the Latin American region. There are many opportunities for gaming platforms in this market, but they need to understand the needs of local bettors. Therefore, when it comes to payments, agility, security, and user experience are key aspects for bettors to consider. Although traditional payment methods such as credit cards and other channels are still commonly used, relying solely on these channels may not meet the needs of bettors.

How to smoothly enter the overseas gaming market, make overseas gaming users feel comfortable, and increase user stickiness is a complex and important challenge. In order to achieve this goal, it is necessary to start from multiple perspectives, such as local religion, language, belief, and culture, to ensure that the gaming platform can seamlessly integrate with overseas markets. Below are some key strategies to successfully enter the overseas gaming market by better catering to the habits and needs of local gaming users.

1. Multicultural integration: Understanding the religion, language, beliefs, and culture of the target market is crucial. By incorporating local elements in design, content, and marketing strategies, users can feel familiar and identified, reducing the possibility of cultural clashes.

2. Localized user experience: According to the operation and visual habits of overseas markets, adjust the user interface and interaction methods of the gaming platform. Ensure that the interface is simple and easy to use, and provide appropriate interface switching functions for users of different languages.

3. Professional language translation: Carefully translated and proofread by experienced language experts to ensure that the content on the platform is linguistically accurate and avoids misunderstanding or confusion.

4. In-depth cultural integration: With the help of local senior designers for visual design, the interface, icons, and images of the gaming platform are combined with local culture to create a more friendly user experience.

5. Continuous information security monitoring: In order to ensure the safe and stable operation of the platform, a 24-hour uninterrupted information security team is set up to monitor the various operations of the platform and to discover and solve potential problems in a timely manner.

6. Rich game cooperation: Cooperate with a number of well-known game manufacturers to provide a variety of game types to meet the various preferences of users, thereby increasing user participation and retention.

7. Full support: Considering the possible different needs of overseas markets, choose a reliable white label iGaming platform provider, such as TC-GAMING White Label, which can provide full support for gaming platforms to ensure stress-free and successful entry into overseas gaming markets.

The editor of TC-GAMING suggests that through the comprehensive application of the above strategies, you can enter the overseas gaming market more effectively, establish a good relationship with local users, enhance user stickiness, and achieve long-term successful operations.

But in order to attract more Latin American bettors, the gaming industry must focus on the available local payment methods and focus on digital first. By expanding bettors’ payment options according to each local needs, gaming platforms are able to improve their experience and earn players’ trust. Brazil, Mexico, and Colombia are the largest potential markets for gaming users in the region, followed by Argentina. Therefore, it is very important to keep abreast of the ever-changing rules and regulations, and the gaming industry should pay close attention to these changes in order to better grasp business opportunities.

In conclusion, the Latin American gaming market is full of business opportunities and exciting growth prospects. The gaming industry needs to be digital-centric, understand the needs of local bettors, cater to players’ needs, and earn their trust by expanding payment options and keeping an eye on changes in rules and regulations. I believe that it will be your best choice to choose TC-GAMING to join hands with you to enter the overseas gaming market!