南美博彩市场-拉丁美洲 iGaming市场

South American Gambling Market Latin American iGaming Market

Today, the TC-Gaming White Label team discusses the vibrant iGaming markets in Argentina, Brazil, Chile, Colombia, Costa Rica, the Dominican Republic, Ecuador, Guyana, Mexico, Nicaragua, Panama, Paraguay, Peru, Uruguay, and Venezuela. Over the past year, the rising trend in emerging iGaming markets shows no signs of slowing, with Latin America consistently capturing the industry’s attention. Many believe that Latin America could be the future hub for the iGaming industry.

Why is this the case? Across Latin America, the regulation of iGaming varies significantly from country to country. Some nations currently prohibit all forms of gambling, except for state-run lotteries. Others lack formal regulation but do not actively restrict iGaming either. Encouragingly, more countries are beginning to adopt regulatory frameworks, while some are making positive strides toward a more structured iGaming policy. These favorable developments are expected to lead to beneficial regulatory measures.

Argentina iGaming Market Overview

Introduction to Argentina

The Argentine Republic (República Argentina), located in the southeastern part of South America, spans approximately 2.78 million square kilometers, making it the second-largest country in Latin America. Bordered by the Atlantic Ocean to the east, Chile to the west, Bolivia and Paraguay to the north, and Brazil and Uruguay to the northeast, Argentina is renowned for its abundant natural resources. Its picturesque Andes mountains and vast Pampas plains have established it as a key player in agriculture and livestock industries.

Population and Demographics

Argentina's population is approximately 45.92 million, ranking as the fourth most populous nation in Latin America. Most residents are concentrated in the capital, Buenos Aires, and its surrounding areas. The demographic composition is primarily descendants of European immigrants, particularly from Spain and Italy, along with smaller populations of indigenous peoples and migrants from other nations.

2024 Population Snapshot:

Total population: 45.92 million.
Growth: From early 2023 to early 2024, the population increased by 286,000 (+0.6% growth rate).
Gender ratio: Women: 50.5% of the population. Men: 49.5% of the population.
Urbanization: Urban residents: 92.5% of the population. Rural residents: 7.5%.

Age structure of Argentina’s population: The average age is 32.0 years.

Age distribution:

0-4 years: 6.9%
5-12 years: 12.6%
13-17 years: 7.7%
18-24 years: 10.6%
25-34 years: 15.2%
35-44 years: 14.0%
45-54 years: 11.9%
55-64 years: 9.0%
65 years and older: 12.1%

Language and Religion in Argentina

Languages in Argentina

The official language of Argentina is Spanish, which is used by the vast majority of the population for communication. Historical and immigration influences have introduced other languages, including Italian, German, French, and English, though these are typically learned as second languages or studied as foreign languages.

Religious Landscape in Argentina

The predominant religion is Roman Catholicism, embraced by approximately 70-80% of the population. Catholicism holds significant influence over Argentina's culture and societal norms. Other religions practiced in Argentina include Protestantism, Judaism, and Islam, reflecting the country’s diverse religious freedom, which is enshrined in its constitution.

Internet and Social Media in Argentina

Internet Usage (as of January 2024):

Number of Internet Users: 40.58 million.
Internet Penetration Rate: 88.4%, indicating that nearly nine out of ten Argentinians have internet access.

Connection Speeds:

Mobile Networks: Average download speed is 24.99 Mbps.
Fixed Broadband: Average download speed is 75.89 Mbps.

Social Media Usage:：

Active Social Media Users: 31.3 million.
Social Media Penetration: Accounts for 68.2% of the total population.

Argentina Gaming Policy

Argentina’s gambling industry holds a prominent position in the Latin American market due to its scale and influence. However, its regulatory framework differs significantly from other nations. Online gambling in Argentina is managed at the provincial level, rather than being overseen by the federal government. This decentralized approach means that each province has its own regulations and licensing system.

Regulatory System

Provincial Regulation: Argentina’s gambling industry is governed by individual provinces. Operators must obtain licenses specific to a province and are only allowed to offer services to residents within that jurisdiction.
Key Provinces: Buenos Aires Province: The most populous and economically developed province, it is the most active in terms of gambling operations. Other provinces, such as Córdoba and Santa Fe, also have their own regulatory authorities.

Tax Policies

At the federal level, operators must comply with several tax requirements:

Corporate Income Tax: Operators pay a 41.5% income tax on revenue. If income tax has already been paid, dividends from that income are exempt from additional taxation.
Value-Added Tax (VAT): A 21% VAT applies to player fees (e.g., rake in poker).
Bank Transaction Tax: Deposits and withdrawals in operators' bank accounts incur a 0.6% tax, with up to 33% of this eligible as a prepayment for income tax.
Indirect Tax on Online Bets: Applies to both local and foreign operators on iGaming activities.

Advertising Regulations

Content Restrictions: Gambling advertisements must not feature or target minors. Ads must avoid being deceptive or misleading.
License Requirements: Only licensed operators can advertise gambling activities in Argentina.

Current Market Conditions

International Collaboration: In 2021, the Buenos Aires Provincial Lottery and Casino Institute (IPLyC) began issuing licenses for iGaming and established partnerships with renowned international gambling operators.
License Suspension: In August 2024, Buenos Aires authorities temporarily halted new license applications, possibly to review existing regulations or refine market strategies.

Brazil iGaming Market Overview

General Information

Brazil, officially the Federative Republic of Brazil, is the largest and most populous country in Latin America. Located in eastern South America, Brazil is bordered by the Atlantic Ocean and boasts a vast coastline and abundant natural resources. Renowned for its vibrant culture, diverse population, and breathtaking landscapes, Brazil holds immense potential for market expansion, particularly in iGaming.

Population and Mobile Technology Penetration

With a population exceeding 217 million, Brazil ranks as the fifth most populous country in the world. Its robust mobile technology adoption provides a strong foundation for the iGaming sector, with 63% of the population actively using mobile devices. This translates to over 126 million mobile users, forming a large potential user base for iGaming platforms.

Brazil’s Population Data (As of January 2024):

Total Population: 217 million
Population Growth: Increased by 1.2 million from 2023 to 2024, representing a +0.6% growth rate.
Gender Ratio: Female: 50.9% Male: 49.1%
Urbanization: Urban Population: 87.9% Rural Population: 12.1%

Age Demographics The average age of Brazil's population is 33.8 years, indicating a youthful and tech-savvy demographic, ideal for the growth of iGaming.

Age distribution:

0-4 years: 6.3%
5-12 years: 10.8%
13-17 years: 7.0%
18-24 years: 10.5%
25-34 years: 15.7%
35-44 years: 15.8%
45-54 years: 13.0%
55-64 years: 10.5%
65 years and above: 10.4%

Brazil Language and Religion

Languages in Brazil

Official Language: Portuguese. Brazil is the only country in South America where Portuguese is the official language.
Other Languages: Due to immigration and international exchange, English and Spanish are widely spoken, particularly in business and the tourism industry.

Religion in Brazil

Main Religion: Christianity, with Roman Catholicism being the dominant faith, comprising around 65% of the population.
Protestantism: Protestant (including Evangelical) adherents are growing in number and have a significant influence on Brazil’s social and political landscape.
Other Religions: There are also followers of African traditional religions, Judaism, Islam, and other faiths in Brazil.

Internet and Social Media in Brazil

Internet Users in Brazil (as of January 2024)

Total Internet Users: 187.9 million
Internet Penetration Rate: 86.6% of the population, meaning over 80% of Brazilians have internet access.

Connection Speeds:：

Mobile Network: Average download speed of 47.09 Mbps.
Fixed Broadband: Average download speed of 140.46 Mbps.

Social Media Usage:：

Active Social Media Users: 144 million
Social Media Penetration Rate: 66.4% of the population.

Brazil Gaming Policy

Brazil has long been a dream market for sports betting operators, especially those looking to expand into South America. This dream became a reality in 2024.

Gambling Legalization Progress

February 2022: The gambling legalization bill was passed by Brazilian legislators.

Legislative progress: Brazilian lawmakers voted to pass a bill to legalize gambling.
Tax Rate: Gambling operators must pay 15% of total revenue as tax.
Operational Requirements: Foreign operators must establish local subsidiaries in Brazil, and must prove they have sufficient capital and financial capability.

May 2022: Sports Betting Regulations Announced

Regulatory Body: The Brazilian Ministry of Planning, Energy, and Lottery (SECAP) introduced specific rules for sports betting.
Licenses Issued: There is no limit to the number of licenses issued, with each license valid for five years. Operators must pay BRL 22.2 million (approximately GBP 3.6 million, EUR 4.2 million, USD 4.4 million) for each license.
Operational Requirements: Foreign operators must establish local subsidiaries in Brazil, and must prove they have sufficient capital and financial capability.
Capital requirements: Operators must have “sufficient capital and economic and financial capacity” to operate.

December 2023: Final Approval of Gambling Regulation

Legislative Update: The Brazilian Congress passed the final version of the gambling industry regulations, including online gambling.
Tax Rate Update: Gamblers now only need to pay tax once a year, with a tax rate of 15% on net profits.

January 2024: New Gambling Regulations Introduced

Tax Rate: Operators must now pay 12% of total revenue as tax, down from the previous 15%.
License Validity: Licenses are valid for five years.
License Fees: Companies can pay a maximum of BRL 30 million for up to three brands, fewer than the expected five.
Equity Requirements: Operators must have at least one Brazilian board member who holds 20% of the company’s shares.

Outlook for Brazil’s Gambling Market

Massive Market Potential: Brazil's national enthusiasm for sports, especially football, makes it an ideal market for sports betting.
Projected Revenue: Over the next three years, Brazil’s sports betting and online casino market is expected to exceed BRL 100 billion (approximately USD 20 billion).

Chile's Gambling Market

Overview of Chile

Chile, officially the Republic of Chile, is located in the southwestern part of South America, bordered by the Pacific Ocean to the west, Argentina to the east, Peru to the north, and Bolivia to the northeast. Chile's territory stretches approximately 4,270 kilometers from north to south, but its widest point is only 445 kilometers. The country is renowned for its stunning natural landscapes, diverse climate, and abundant mineral resources, particularly as the world’s largest copper producer.

Population and Age Structure

Chile's population as of January 2024:

As of January 2024, Chile has a population of approximately 19.64 million people.
Population growth: From the beginning of 2023 to the beginning of 2024, Chile’s population increased by 29,000, a growth rate of +0.1%.
Gender ratio: Females: 50.4% of the total population. Males: 49.6% of the total population.
Urbanization rate: Urban population: 88.1% of the population lives in urban areas. Rural population: 11.9% of the population lives in rural areas.

Age structure of Chileans: Average age: 36.0 years.

Age distribution:

0-4 years: 5.8%
5-12 years: 9.8%
13-17 years: 6.2%
18-24 years: 9.0%
25-34 years: 16.0%
35-44 years: 14.9%
45-54 years: 13.1%
55-64 years: 11.4%
65 years and above: 13.7%

Languages and Religion

Chilean language:

Official Language: Spanish is the official language and is spoken throughout the country, with a distinct Chilean accent and expressions.
Indigenous Languages: Some indigenous communities also speak Mapudungun and Aymara.

Religion：

The majority of Chileans identify as Roman Catholic (approximately 66%)
followed by Protestants (around 16%), including Evangelicals.
Other religions such as Judaism, Islam, Buddhism, and secularism are also present.

Internet and Social Media in Chile

INTERNET USERS：

Number of users: As of January 2024, the number of Internet users in Chile was 17.88 million.
representing 91.0% of the population.
The number of active mobile connections stands at 30.16 million, exceeding the total population. Internet connection speeds in Chile are relatively high, ensuring a good online experience:

Connection Speeds: (early 2024):

Mobile network average speed: 34.77 Mbps
Fixed broadband average speed: 249.82 Mbps

SOCIAL MEDIA USERS：

Number of active users: As of January 2024, there were 15.2 million active social media users in Chile.
Social media penetration rate: 77.4% of the total population.

Chile Gaming Policy

Progress in Chilean Gambling Regulations: Chile is actively promoting the regulation of the online gambling market

March 2022: Chile's Ministry of Finance proposed a bill to regulate online gambling.
End of 2023: The bill was approved by the Chamber of Deputies and is set to be reviewed by the Senate in 2024.
2024: The bill will be sent to the Senate for further consideration.

If the Senate approves the bill, the following agencies would gain new powers:

Superintendence of Casino Games
Commission of Financial Markets
Internal Revenue Service

Key Details of the Gambling Bill

Licensing Fee: Set at $74,189 USD.
Contribution Fees: License holders are required to pay 2% of their total gambling revenue (GGR) to the National Sports Institute, Chilean Olympic Committee, and Chilean Paralympic Committee.
Taxes: A 20% tax is applied to GGR.
Responsible Gambling Contribution: License holders must contribute 1% of GGR to responsible gambling efforts.

Combatting Illegal Gambling:

Advertising Restrictions: Media outlets cannot advertise unlicensed gambling websites.
Website Blocking: Internet service providers will block access to illegal platforms.
Financial Restrictions: Banks are prohibited from processing transactions related to illegal operators.

Colombian Betting Market

Overview of Colombia

Colombia, officially the Republic of Colombia, is located in the northwestern part of South America, bordered by Venezuela and Brazil to the east, Peru and Ecuador to the south, and the Caribbean Sea and the Pacific Ocean to the north and west. The capital, Bogotá, serves as the political, economic, and cultural center of the country. Colombia is known for its rich natural resources, diverse climates, and vibrant culture.

Colombia’s Population and Age Structure

Colombia Population: As of January 2024，

Total population: 52.21 million.
Population growth: From the beginning of 2023 to the beginning of 2024, the population increased by 252,000, a growth rate of +0.5%.
Gender ratio: Females: 50.7% of the total population. Males: 49.3% of the total population.
Urbanization rate: urban population: 82.5%. Rural population: 17.5%.

Colombia’s age structure: Average age: 31.9 years old, belonging to a relatively young population structure.

Age distribution:

0-4 years: 6.9%
5-12 years: 11.3%
13-17 years: 7.2%
18-24 years: 11.1%
25-34 years: 17.0%
35-44 years: 14.8%
45-54 years: 11.9%
55-64 years: 10.2%
65 years and above: 9.6%

Colombian Language and Religion

colombian language：

Indigenous Languages: In some areas, there are over 70 indigenous languages.
Religion: The majority of Colombians (around 70%) are Roman Catholic, with about 17% identifying as Protestant (including Evangelicals). Other religions, such as Judaism and Islam, have a small presence.

colombian religion：

Indigenous Languages: In some areas, there are over 70 indigenous languages.
Religion: The majority of Colombians (around 70%) are Roman Catholic, with about 17% identifying as Protestant (including Evangelicals).
Other religions, such as Judaism and Islam, have a small presence.

Internet and Social Media in Colombia

INTERNET USERS: (as of January 2024)

As of January 2024, Colombia has 39.51 million internet users
representing 75.7% of the total population.
The country also has a high number of mobile connections, with 77.02 million active connections, equivalent to 147.5% of the population. The average internet speeds in the country are:

Connection Speeds:（：

Mobile network average speed: 12.26 Mbps
Fixed broadband average speed: 111.81 Mbps

SOCIAL MEDIA USERS：

Colombia has 36.70 million active social media users, making up 70.3% of the population.
Popular social media platforms include Facebook, Instagram, Twitter, and WhatsApp.

Colombia Gaming Policy

Gambling Regulations in Colombia

Colombia was the first country in Latin America to regulate iGaming in 2016, and since 2017, the market has been steadily growing. Almost all forms of gambling (both online and offline) are legal in Colombia, with the only exception being online horse racing betting, which can only be operated by Coljuegos, the national regulator, and private operators with government licenses.

Licensing and Taxes

License Fees: Operators must pay an annual licensing fee equal to 811 Colombian minimum wages, which is approximately $196,830 USD based on the March 2023 minimum wage of 1,160,000 COP.
Gambling Taxes: If an operator’s payout rate is 83% of the total wagers, the gambling tax is 15%. If the payout rate is lower than 83%, the gambling tax increases to 17%.
Other Fees: Administrative Fees: License holders must pay 1% of their Net Gambling Revenue (NGR) as an administrative fee. Value-Added Tax (VAT): From 2024, iGaming will be subject to 19% VAT.

Gambling Market Performance and Advantages

Market Size: As of 2021, Colombia’s total gambling revenue (GGR) was estimated at $300 million USD.
National Revenue: National revenue from gambling increased by 18% in 2022, reaching $175 million USD.
Large Population Base: With a population of over 52 million, Colombia is the fourth-largest economy in South America.
Mobile Penetration: About 56% of the population uses mobile devices, providing a solid foundation for iGaming.
Sports Enthusiasm: Colombians have a deep passion for sports, particularly football, which boosts demand for sports betting.
Increasing Competition: The issuing of more licenses has resulted in intensifying market competition.

Costa Rica Gambling Market

Overview of Costa Rica

Costa Rica, located in Central America, is known for its economic and political stability, making it an ideal base for various international industries, including the iGaming industry. Despite laws from 1922 and 1974 prohibiting games of chance, the government’s tacit approval has turned Costa Rica into a hub for online gambling.

Costa Rica Population and Age Demographics

As of January 2024

Costa Rica’s population is 5.23 million.
The population grew by 35,000 from 2023 to 2024, with a growth rate of +0.7%.
The gender distribution is 50.0% female and 50.0% male. The urbanization rate is high, with 82.8% living in urban areas, and 17.2% in rural areas.
The average age in Costa Rica is 34.0 years.

Here’s the breakdown of the age distribution:

Age distribution:

0-4 years: 5.9%
5-12 years: 10.8%
13-17 years: 7.1%
18-24 years: 10.2%
25-34 years: 15.9%
35-44 years: 15.5%
45-54 years: 12.3%
55-64 years: 10.9%
65 years and above: 11.4%

Languages and Religion

costa rican language：

Indigenous Languages: In some areas, there are over 70 indigenous languages.
Other Languages: English and indigenous languages are spoken by some communities due to immigration and minority groups.

costa rica religion：

Religion: The majority of Costa Ricans (approximately 76%) are Roman Catholic
with 13% adhering to Protestantism. Other religions, such as Judaism and Islam, also have small populations.
Other religions, such as Judaism and Islam, have a small presence.

Internet and Social Media in Costa Rica

INTERNET USERS：

As of January 2024, Costa Rica has 4.84 million internet users
which accounts for 92.5% of the population.
The country has 8.14 million mobile connections, amounting to 155.7% of the population. The average internet speeds are:

Connection Speeds:：

Mobile network speed: 26.54 Mbps
Fixed broadband speed: 84.49 Mbps

SOCIAL MEDIA USERS：

Costa Rica has 3.86 million active social media users, making up 73.8% of the population.

Costa Rica Gambling Policy

Gambling Laws：

While laws from 1922 and 1974 prohibited games of chance, the government’s permissive stance has made Costa Rica a popular location for the iGaming industry.

Operating License: The government does not officially issue gaming licenses; online casino operators typically apply for a "data processing" license and are often classified as call centers.
Scope of services: According to Costa Rican law, gambling companies are allowed to establish in the country, but they are prohibited from providing gambling services to Costa Rican citizens. However, they can accept players from other countries.
Banking: Costa Rican banks do not process transactions for online gambling operators located within the country.
Tax Policy: The government does not tax Internet gambling revenue, making Costa Rica very attractive to online casino operators.

Gambling market size in Costa Rica：

Due to the government's lenient policies and tax advantages, Costa Rica is home to approximately 450 iGaming-related companies. Many online gambling companies are registered in Costa Rica but do not operate directly within the country.

Offshore centers: Many online bookmakers are registered in Costa Rica but do not operate there.

Dominican Republic Gambling Market

Dominican Republic overview

Located in the Caribbean, the Dominican Republic is renowned for its tourism industry. To diversify its economy, the government promoted tourism, and with it, the casino industry. Gambling became legal in the 1960s and 1970s, with tax incentives provided to private companies investing in tourism, including casinos.

Dominican Republic Population and Age Demographics

Dominican Republic population

Total population: 11.38 million.
Population growth: From the beginning of 2023 to the beginning of 2024, the population increased by 102,000, a growth rate of +0.9%.
Gender ratio: Female: 49.9% of total population. Males: 50.1% of the population.
Urbanization rate: urban population: 84.6%. Rural population: 15.4%.

Average age: 27.9 years old, the population is relatively young.

Age distribution:

0-4 years: 8.7%
5-12 years: 14.4%
13-17 years: 8.7%
18-24 years: 11.8%
25-34 years: 16.0%
35-44 years: 13.5%
45-54 years: 10.8%
55-64 years: 8.4%
65 years and above: 7.8%

Dominican Republic Language and Religion

Dominican Republic Language:

Indigenous Languages: In some areas, there are over 70 indigenous languages.
Other languages: Haitian Creole and English are also spoken by some due to immigration and historical reasons.

Religion in the Dominican Republic:

Main religion: Roman Catholic, about 57% of the population.
Protestantism: Approximately 23% of the population adheres to the Protestant religion.
Other religions: including African traditional religions, Judaism, Islam, etc. Some people do not believe in any religion.

The State of the Internet and Social Media in the Dominican Republic

Internet users:

Number of users: As of early 2024, the number of Internet users was 10.14 million.
Internet penetration: 89.0% of total population.
Number of active cellular mobile connections: 10.27 million, equivalent to 90.2% of the total population.

Connection Speeds: (early 2024):

Mobile network speed: 22.19 Mbps.
Fixed broadband speed: 35.41 Mbps.

Social Media Usage:

Active Social Media Users: There are 7.23 million active social media users, representing 63.5% of the population.

Dominican Republic Gambling Policy

Gambling legal status in the Dominican Republic:

To promote economic diversification, the government legalized gambling in the mid-20th century and provided tax incentives. In 2022, Dominican lawmakers decided to establish a new regulatory body and introduce reforms to gambling taxes. The new licensing regulations were officially implemented in 2024.

Licensing Fees:

Online Gambling License: The cost is approximately $230,000 USD.
Administrative Fees: Operators must pay an additional $23,000 USD for administrative fees.

Tax Policies:

Gross Revenue Tax: A 10% tax on gross revenues is imposed on gambling operations.

Additional Contributions:：

Gambling operators must pay a duty of 1 peso for every 100 Dominican pesos processed.
Operators must also contribute 2 pesos for every 100 pesos processed toward the regulatory body’s technical equipment fund.
Operators must withhold 25% from players’ winnings and pay this amount to the national treasury.

Combating Illegal Gambling:

Advertising Restrictions: Media cannot advertise unlicensed gambling sites.
Network Blocking: Internet service providers will block access to illegal platforms.
Financial Restrictions: Banks are permitted to block transactions with illegal operators.

Current Gambling Market:

Regulation: All forms of gambling are regulated in the Dominican Republic, excluding virtual sports betting, which is neither explicitly regulated nor banned at this time.
Tourism Impact: The gambling sector is closely tied to tourism, with many visitors engaging in gambling activities.
Regulatory Costs: Licensing and tax fees may be relatively high for operators.

Ecuador Gambling Market

Overview of Ecuador:

In 2012, Ecuador shut down all physical casinos and bingo halls and banned online gambling. However, there is no clear ban on sports betting. In 2024, discussions about lifting the ban on physical casinos and introducing a new gambling regulatory framework arose. President Daniel Noboa initially raised the issue of introducing gambling regulation during a public consultation. However, due to the ongoing internal conflicts tied to drug cartels, the matter was postponed. The fate of gambling regulation remains uncertain amid political instability.

In June 2024, the Ecuadorian government issued Executive Decree No. 313 in the Official Gazette, introducing a 15% tax on gross revenues for sports betting operators, both domestic and international. The decree also mandates a 15% withholding tax on players' winnings. The decree took effect on July 1, 2024, giving operators six months to update their systems to comply with the new regulations.

(Note: On July 2, local time in Ecuador, due to internal unrest and armed conflicts, the domestic situation in Ecuador worsened. President Novoa declared a 60-day state of emergency in six provinces and one city. This is the third time this year that he has issued this Class laws. Currently, social security in Ecuador. The problem is becoming more serious and violence is escalating. Currently, Ecuador has a homicide rate of 47.25 people per 100,000 inhabitants. In less than 10 years, it has ranked among the top ten countries with the highest crime rate in the world, and has also moved from being second only to Chile in South America. The second safest country has become the most violent country).

Based on the above information, there are conflicts. I personally feel that Ecuador’s gambling supervision is in a gray area. They want to formally try to regulate gambling, but the local political situation is not suitable for the current situation. As for Administrative Decree No. 313, it is all about sports betting, so the editor of TC Gaming will not make too many judgments here. )

Illegal Market: Despite the bans, underground gambling activities persist.

Future Changes: Changes in policies and the political landscape may occur, and continuous monitoring is required.

Ecuador Population and Age Groups

Ecuador population:

Total Population: 18.28 million.
Population Growth: From early 2023 to early 2024, the population increased by 188,000 (a growth of +1.0%).
Gender Ratio: 50.1% female, 49.9% male.
Urbanization: 64.9% urban, 35.1% rural.

Average Age: 28.5 years, indicating a relatively young population.

Age Distribution:

0-4 years: 8.1%
5-12 years: 13.5%
13-17 years: 8.7%
18-24 years: 12.0%
25-34 years: 16.7%
35-44 years: 14.1%
45-54 years: 10.8%
55-64 years: 7.9%
65 years and above: 8.2%

Ecuador Languages and Religion

Official Language: Spanish is the official language, spoken by the vast majority.

Religion: Catholicism is the predominant religion, although Protestantism and other faiths are also present, reflecting a diverse religious landscape.

Ecuador's Internet and Social Media Status

Internet Users: As of early 2024, Ecuador has 15.29 million internet users, representing 83.6% of the population.
Social Media Users: Ecuador has 12.66 million active social media users, making up 69.2% of the total population.
Active Mobile Connections: The country has 17.56 million active mobile connections, which is 96.0% of the population.
Mobile Internet Speed (Cellular Network): The average speed is 21.54 Mbps.
Fixed Internet Speed: The average speed is 77.65 Mbps.

Guyana Gambling Market

Guyana Overview:

Guyana, officially known as the Co-operative Republic of Guyana, is located in the northeast of South America, bordered by the Atlantic Ocean to the north, Suriname to the east, Brazil to the southwest, and Venezuela to the west. It is the only country in South America where English is the official language, giving it a unique status in the region. The capital city is Georgetown. Guyana is renowned for its abundant natural resources, tropical rainforests, and diverse cultural heritage.

Guyana Population and Age Demographics:

Total population: 816,800. From early 2023 to early 2024,
Population growth: 5,910 people (+0.7%).
Gender ratio: Females: 51.0% of the total population Males: 49.0% of the total population
Urbanization rate: urban population: 27.3% rural population: 72.7%
Average Age: Guyana’s population has an average age of 26.1 years, making it a relatively young demographic.

Age distribution:

0-4 years: 9.6% of the population.
5-12 years: 15.1% of the population.
13-17 years: 9.1% of the population.
18-24 years: 12.4% of the population.
25-34 years: 16.7% of the population.
35-44 years: 11.6% of the population.
45-54 years: 10.7% of the population.
55-64 years: 8.3% of the population.
65 years and above: 6.6% of the population.

Languages and Religion in Guyana:

Guyanese language：

Official language: English. Guyana is the only country in South America where English is the official language.
Other languages: Due to the ethnic diversity, Creole, Indian, Arabic and some indigenous languages are also spoken by the inhabitants.

Religion:：

Christianity: Approximately 57% of the population, including both Protestant and Catholic denominations.
Hinduism: About 28%, primarily practiced by the Indo-Guyanese community.
Islam: Around 7% of the population.
Other Religions: Includes indigenous beliefs and various minority religions.

Guyana's Internet and Social Media Status

Number of Internet users (as of early 2024):

Number of Internet users: 696,900, Internet penetration rate is 85.3%.
Number of active cellular connections: 686,900, equivalent to 84.1% of the population.

Connection Speeds:：

Mobile Internet Speed (Cellular Network): The average speed is 22.40 Mbps.
Fixed Internet Speed: The average speed is 61.85 Mbps.

Social Media Users (As of January 2024)

Number of active social media users: 493,100.
Social media penetration: equivalent to 60.4% of the total population.

Guyana Gambling Policy

Guyana’s Gambling Prevention Act prohibits most forms of gambling, with some exceptions such as Lottery and football betting:

Legalizing Casinos: In an effort to stimulate tourism, Guyana legalized casinos in 2007. So far, only two casinos are open, and gambling is only allowed to guests staying at the relevant hotels.
Other forms of gambling: Lotteries: Guyana has an officially run lottery company. Sports Betting: There are seven sports betting companies operating.

Online Gambling:

Legal situation: Guyana has no laws specifically prohibiting online gambling. Its Gambling Prevention Act mainly targets physical gambling establishments and does not make specific provisions for remote gambling.
Government Action: However, in 2013, the Guyanese government revoked the licenses of remote gambling companies, leaving uncertainty about the legality of online gambling.

Guyana Gambling Market Summary

Small scale: The market size is limited and there are not many participants.
Market potential: Considering Guyana’s high internet penetration and young demographic structure, the gaming market may have room for growth if the government relaxes policies in the future.

Mexican betting market

With a population of over 120 million, approximately 60% mobile penetration, and the second-strongest economy in Latin America, Mexico is considered fertile ground for emerging and expanding online gambling and sports betting operators.

In Mexico, almost all gambling is legal and regulated, with the exception of offline card games (poker games are limited to casinos) and virtual sports (which are allowed but not explicitly regulated). Football betting, Mexican bettors show great enthusiasm.

Mexico overview

Mexico, officially the United Mexican States, is located in the southern part of North America, bordered by the United States to the north and Guatemala and Belize to the southeast. Mexico City, the capital, is one of the most populous cities in the world. Known for its rich culture, historic landmarks, and natural beauty, Mexico also features archaeological sites from ancient civilizations such as the Maya and Aztecs.

Mexico's Population and Age Demographics:

Total Population: 128.9 million
Population Growth (2023 to 2024): The population grew by 943,000 (a +0.7% increase).
Gender Distribution: 51.2% female, 48.8% male.
Urbanization: 81.7% urban, 18.3% rural.

Average Age: 30.0 years.

Age distribution:

0-4 years: 7.3%
5-12 years: 13.1%
13-17 years: 8.4%
18-24 years: 11.6%
25-34 years: 15.7%
35-44 years: 14.1%
45-54 years: 12.1%
55-64 years: 8.9%
65 years and above: 8.7%

Mexican Language and Religion

mexican language：

Official language: Spanish. Mexico has the largest Spanish-speaking population in the world.
Other languages: Due to the rich indigenous culture, approximately 68 indigenous languages are spoken in Mexico, including Nahuatl, Mayan, and others.

Religion

Catholicism: Around 82.7% of the population.
Protestantism: Approximately 9.7%.
Other Religions: Includes Jehovah's Witnesses, Mormonism, Judaism, Islam, etc.
Non-religious: About 4.7%.

Mexico's Internet and Social Media Status

Number of Internet users (as of early 2024):

Internet Users: 107.3 million (83.2% of the population).
Active Mobile Connections: 125.4 million (97.3% of the population).

Connection Speeds:：

Mobile Internet Speed: 25.14 Mbps (average for cellular networks).
Fixed Internet Speed: 60.28 Mbps.

Social Media Users (As of January 2024)

Number of active social media users: 90.2 million
Social media penetration: equivalent to 70.0% of the total population

Mexico Gambling Policy

Legal Framework:：

Key Legislation: The Federal Gaming and Raffles Law (1947) is the primary legal framework for gambling in Mexico.
Comprehensive Regulation: In 2004, a full set of regulations for gambling was enacted.
Recent Developments: In 2021, new guidelines were issued to regulate operator advertising, bonuses, and loyalty programs.
Regulated Gambling: Almost all forms of gambling are regulated in Mexico, including casinos, horse racing, sports betting, and more.
Exceptions: offline card games: Poker games are limited to casinos, independent card rooms (card halls) are prohibited. Virtual sports: allowed but not explicitly regulated.

Mexico Online Gambling：

Licensing requirements: Online casino and sports betting operators do not require additional licenses but are required to obtain authorization and work with land-based casinos that hold land-based licenses.

Recent Changes:：

2023 Law: The Mexican president passed a new law banning all land-based slot machines. Industry representatives have indicated their intent to challenge this ban.

Market Outlook:：

Mexico is seen as a strong iGaming market in Latin America due to its high mobile and internet penetration rates, alongside a passionate following for sports like football. If the regulatory environment continues to evolve, Mexico's gambling market is poised for further growth, especially in the online iGaming sector.

Steady Growth: The online gambling market is growing steadily, especially among young people.

Competition is fierce: both local and international operators exist in this market.

Nicaragua Gambling Market

Nicaragua overview

Nicaragua, the full name of the Republic of Nicaragua, is located in Central America and is the largest country in Central America. It is bordered by Honduras to the north, Costa Rica to the south, the Pacific Ocean to the west, and the Caribbean Sea to the east. The capital, Managua, is the political, economic and cultural center of the country. Nicaragua is famous for its beautiful natural scenery, abundant lakes and volcanoes.

Nicaragua Population and Age Groups

Total Population: 7.09 million
Population Growth: From early 2023 to early 2024, the population grew by 97,000, at a rate of +1.4%.
Gender Ratio: Female: 50.7% of the total population; Male: 49.3% of the total population.
Urbanization Rate: 60.0% urban population; 40.0% rural population.

Average Age: 25.4 years

Age distribution:

0-4 years: 9.7%
5-12 years: 15.6%
13-17 years: 9.4%
18-24 years: 12.7%
25-34 years: 17.3%
35-44 years: 13.6%
45-54 years: 9.9%
55-64 years: 6.3%
65 years and above: 5.5%

Language and Religion in Nicaragua:

Nicaraguan languages:

Official language: Spanish, spoken throughout the country. Other languages: English Creole and Aboriginal languages are also spoken in some coastal and indigenous communities.

Nicaraguan Religion:

Roman Catholic: Around 55% of the population
Protestant: About 27%, including Evangelicals
Other religions include Mormonism, Jehovah's Witnesses, and Islam. There are also those who are non-religious.

Internet and Social Media in Nicaragua:

INTERNET USERS：

Number of users: The number of Internet users is 4.36 million.
Internet penetration: 61.5% of total population.
Number of active cellular mobile connections: 8.51 million, equivalent to 120.0% of the total population,

Connection Speeds: (early 2024):

Mobile network speed: 16.41 Mbps.
Fixed network speed: 51.16 Mbps.

SOCIAL MEDIA USERS：

Active Social Media Users: 3.7 million, 52.2% of the population.

Nicaragua Gambling Policy

Nicaragua has legalized both land-based and online gambling since 2001, including horse racing and virtual betting, though some areas are not yet explicitly regulated or banned. The gambling industry is supervised by the Gambling and Gaming Venues Control Board and the Ministry of Finance and Public Credit. Despite being legally permitted, the industry’s development is still limited, and the market size is relatively small. However, as internet access and mobile devices grow in popularity, the gambling market could see future opportunities.

Gambling Market Status:：

Legalization of gambling: Since 2001, Nicaragua has legalized land-based and online gambling, except for horse racing and betting on virtual products, which are not currently explicitly regulated or prohibited.
Regulators: The gaming industry is jointly regulated by the Casino and Gaming Venues Control Board and the Ministry of Finance and Public Credit.
Market development: Although the gambling industry is legally legal, industry development is still relatively lacking and the market size is small.

Gambling Market Current Situation：

Legal Forms: Land-based casinos, lotteries, bingo games, and some online gambling are legal and regulated.
Infrastructure Challenges: The relatively low internet penetration and slower connection speeds could hinder online gambling's growth.
Young Population Advantage: Nicaragua's youthful demographic offers a potential market for gambling services, though its small population presents a limitation.

Panama Gambling Market

Panama, a key financial and trade hub in Latin America, is globally renowned for the Panama Canal. It is located between Central and South America, bordered by the Caribbean Sea and the Pacific Ocean. Panama City is the capital, known for its blend of modern skyscrapers and historical significance.

Panama overview

Panama is an important country connecting Central and South America and is famous for its famous Panama Canal. Located between the Caribbean Sea and the Pacific Ocean, it is an important hub for international trade. The capital is Panama City, a blend of modern high-rises and rich history and culture.

Panama's Population and Age Demographics:

Total Population: 4.5 million
Population Growth: From early 2023 to early 2024, the population grew by 60,000, at a rate of +1.4%.
The gender distribution is 50.0% female and 50.0% male. The urbanization rate is high, with 82.8% living in urban areas, and 17.2% in rural areas.
Urbanization Rate: 69.7% urban population; 30.3% rural population.

Average Age: 29.5 years, reflecting a youthful population.

Age distribution:

0-4 years: 8.5%
5-12 years: 13.9%
13-17 years: 8.3%
18-24 years: 11.1%
25-34 years: 15.0%
35-44 years: 13.6%
45-54 years: 11.6%
55-64 years: 9.0%
65 years and above: 9.1%

Panamanian Language and Religion

panama language：

Indigenous Languages: In some areas, there are over 70 indigenous languages.
Other languages: Due to the multicultural influence, some people also speak English and Aboriginal languages.

Religion in Panama:：

Major Religion: The majority of the population, about 85%, are Roman Catholics.
Protestantism: Approximately 15% of the population follows Protestantism and other Christian denominations.

Panama’s Internet and Social Media Landscape:

INTERNET USERS：

Internet Users: Panama has 3.54 million internet users.
Internet Penetration: The internet penetration rate stands at 78.8% of the population.
Mobile Connectivity: There are 5.34 million active mobile connections, exceeding the population by 118.6%.

Connection Speeds: (early 2024):

Mobile average speed: 18.51 Mbps.
Fixed broadband average speed: 147.25 Mbps, ensuring a strong and reliable internet experience.

SOCIAL MEDIA USERS：

There are 2.57 million active social media users, accounting for 57% of the population.

Panama Gambling Policy

Legal and regulatory

Legal Gambling: Panama regulates almost all forms of gambling. Licensed operators are allowed to offer sports betting, racing, and casino games.
Banned Gambling: Certain products, like lottery games, horse racing bets, amateur sports events, political elections, and other events deemed inappropriate by regulators, are prohibited.
License Fees: The cost to apply for a gambling license is approximately $49,900.

License Requirements:

A legal representative must be based in Panama.
Background checks are mandatory.
The company must be legally established in Panama.
The company needs to be established in Panama.

Tax Policy: Online gambling operators are taxed 10% on gross gambling revenue.

Regulatory Authority: The Panama Gambling Control Board (Dirección de Regulación de Juegos de Azar) oversees gambling activities.

Current status of the Panamanian gambling market:

Gambling Hub: Panama is considered one of Latin America's gambling hubs due to its stable political and economic environment, attracting numerous operators.
Advantages for operators: The stable political and economic environment attracts many operators.
Market competition: Competition is fierce and requires differentiated strategies.

Recent Developments in Panama's Gambling Market:

Policy Changes: In September 2020, Panama introduced regulatory changes, making it one of the few Latin American countries with a fully licensed online gambling market.
Local Services: Previously, licensed operators were prohibited from serving Panamanian citizens, but now, operators can use up to five ".pa" domain names to cater to the local market.
Licensing Forecast: Regulatory authorities expect to grant between 10 and 15 operating licenses.

Paraguay: Language, Religion, and iGaming Landscape

Paraguay overview

Paraguay is a landlocked country in South America, located between Brazil, Argentina and Bolivia. The capital is Asunción, and Paraguay is known for its rich culture, diverse traditions and welcoming people. Although it has no coastline, Paraguay has vast rivers and lakes with beautiful scenery.

Paraguay Population and Age Groups

Total population: 6.9 million.
Population growth: From 2023 to 2024, the population will increase by 87,000, a growth rate of +1.3%.
Gender ratio: Females: account for 49.9% of the total population. Males: 50.1% of the total population.
Urbanization rate: urban population: 63.3%. Rural population: 36.7%.

Average age: 26.3 years

Age distribution:

0-4 years old: 9.8%.
5-12 years old: 15.2%.
13-17 years old: 8.8%.
18-24 years old: 12.1%.
25-34 years old: 17.0%.
35-44 years old: 13.8%.
45-54 years old: 9.6%.
55-64 years old: 7.3%.
65 years and above: 6.4%.

Paraguay Language and Religion

paraguayan language：

Official Languages: Spanish and Guaraní are the official languages. Guaraní is widely spoken in everyday life.
Religious Affiliation: About 90% of Paraguayans are Roman Catholic, while approximately 6% adhere to Protestantism.

paraguayan religion：

Main religion: Roman Catholic, accounting for about 90% of the total population.
Protestantism: About 6% of the population believes in Protestantism.
Other religions include Mormonism, Jehovah's Witnesses, and Islam. There are also those who are non-religious.

The State of the Internet and Social Media in Paraguay

INTERNET USERS：

Number of users: As of early 2024, Paraguay had 5.62 million Internet users.
Internet penetration rate: 81.3% of the total population.
Number of active cellular connections: 7.72 million, equivalent to 111.8% of the total population

Connection Speeds: (early 2024):

Mobile average speed: 17.65 Mbps.
Fixed broadband average speed: 83.53 Mbps.

SOCIAL MEDIA USERS：

Social Media Users: There are 4.22 million active social media users, making up 61.1% of the population.

Paraguay Gambling Policy

As a young and dynamic country, Paraguay has potential in the gambling market. High levels of Internet penetration and mobile device usage provide a good foundation for the development of the online gambling industry. As the government updates gambling legislation and the market opens up, Paraguay's gambling market is expected to develop further in the future.

For gambling companies interested in entering the Paraguayan market, they need to pay close attention to local laws, regulations and policy changes. At the same time, providing localized services and support, taking into account Paraguay’s cultural and linguistic characteristics, will help achieve success in the Paraguayan gambling market.

Gambling laws and market status in Paraguay：

Legalized Gambling: Almost all forms of gambling are legal in Paraguay, including land-based and online gambling.
Market Operations: Paraguay’s only licensed sports betting operator generates approximately $4 million in tax revenue for the government each year.

legislative progress：

2016: The government drafts a bill aimed at updating parts of gambling legislation, particularly those dealing with online gambling.
2017: Local regulator Conajzar organizes a five-year sports betting tender.
2022: Paraguay decides to conduct similar bidding practices again.

regulatory agency：

Conajzar: Paraguay’s National Gambling Commission, responsible for regulating and controlling gambling activities.

Market characteristics:

Operation license: There are currently a limited number of licenses on the market, and the government awards operating rights through bidding.
Policy direction: The government intends to regulate and expand the gambling market, especially in the online gambling field.
First-mover advantage: Early entrants may gain a market advantage.
Laws and regulations: Paraguay is actively promoting the legalization and regulation of online gambling.

Peruvian Gambling Market

Overview of Peru

Peru is located on the western coast of South America, bordered by Ecuador, Colombia, Brazil, Bolivia, and Chile, with the Pacific Ocean to the west. The capital, Lima, is the political, economic, and cultural hub of the country. Peru is famous for its rich historical heritage, stunning natural landscapes, and biodiversity.

Population and Demographics:

Total population: 34.52 million
Population growth (2023–2024): +331,000 (+1.0%)
Gender distribution: Women: 50.5%, Men: 49.5%
Urbanization rate: Urban population: 79.0%, Rural population: 21.0%

Average age: 28.9 years

Age distribution:

0-4 years: 8.5%
5-12 years: 13.5%
13-17 years: 8.8%
18-24 years: 11.4%
25-34 years: 15.7%
35-44 years: 13.9%
45-54 years: 11.3%
55-64 years: 8.1%
65 years and above: 8.7%

Languages and Religion:

Peruvian language:

Official language: Spanish
Other languages: Quechua, Aymara, and other indigenous languages

Religion:

Religion: The majority of Costa Ricans (approximately 76%) are Roman Catholic
Protestant: 14%
Other religions include Jehovah's Witnesses, Mormonism, Judaism, Islam, and some non-religious individuals.

Internet and Social Media Status in Peru:

INTERNET USERS：

Internet users: 25.78 million
Internet penetration: 74.7% of total population.
Growth: Between January 2023 and January 2024, the number of Internet users increased by 247,000 (+1.0%).
Number of active cellular mobile connections: 37.9 million, equivalent to 109.8% of the total population.

Connection Speeds: (early 2024):

Mobile average speed: 17.41 Mbps
Fixed broadband average speed: 93.92 Mbps

SOCIAL MEDIA USERS：

Number of active users: 24.05 million, accounting for 69.7% of the total population.

Peru Gaming Policy

2023 marked a significant year for the gambling industry in Peru, with the country poised to become the third-largest iGaming market in South America due to recent regulatory advancements. A revised gambling law, Law No. 31557, which aims to regulate online sports betting and iGaming, came into effect in February 2022, signed by President Pedro Castillo.

Gambling legal developments in Peru：

August 2022: President Pedro Castillo signed Law No. 31557, which officially regulates gambling in the country.
End of 2023: Peru's Ministry of Foreign Trade and Tourism (Mincetur) approved relevant regulations for the sports betting and iGaming sectors.
New gambling regulations: These will come into effect on February 9, 2024.
March 2024: Mincetur received 145 iGaming license applications within the first 30 days after the law’s implementation.
November 2024: Peru will reintroduce a gambling tax, requiring operators to pay a 1% tax on the value of each bet.

Operator Requirements:

All gambling operators currently operating in Peru must apply for a gaming license.

Regulatory Oversight:

Legal gambling forms: All forms of gambling except virtual sports are regulated and legalized in Peru.
Regulatory authority: The Ministry of Foreign Trade and Tourism (Mincetur) is responsible for overseeing and managing the gambling industry.

Market Outlook:

Market opening: Peru is actively pushing forward with the legalization and regulation of the gambling industry, offering new opportunities.
Operating environment: International gambling operators are relatively free to provide services.
Regulatory uncertainty: There may be policy changes, requiring flexibility.
Market potential: Peru is expected to become one of the key gambling markets in Latin

Uruguay Gambling Market

Overview of Uruguay

Uruguay is located in the southeastern part of South America, bordering Brazil to the north, Argentina to the west, and the Atlantic Ocean to the east. The capital city, Montevideo, blends modern urban landscapes with rich historical and cultural heritage. Uruguay is known for its political stability, high levels of social development, and beautiful beaches.

Population and Age Demographics

Total Population: 3.42 million.
Population Growth: From 2023 to 2024, the population increased by just 277 people, showing a growth rate of +0.008%, indicating a stable population.
Gender Ratio: Females account for 51.5%, while males make up 48.5%.
Urbanization Rate: 95.8% urban population, 4.2% rural population.

Average Age: 35.9 years.

Age distribution:

0-4 years: 5.2%
5-12 years: 10.6%
13-17 years: 6.9%
18-24 years: 10.0%
25-34 years: 14.7%
35-44 years: 13.0%
45-54 years: 12.6%
55-64 years: 11.1%
65+ years: 15.9%

Language and Religion in Uruguay

Uruguayan language:

Indigenous Languages: In some areas, there are over 70 indigenous languages.
Other languages: Due to historical and immigration influences, Portuguese, Italian and English are also spoken by some.

Uruguay Religion:：

Roman Catholicism: Approximately 47% of the population.
Protestantism: About 11% follow Protestantism.
Secularism: A significant portion of the population does not follow any religion, as Uruguay is relatively secular.

Internet and Social Media in Uruguay

INTERNET USERS：

Number of users: As of early 2024, Uruguay had 3.08 million internet users.
Internet penetration: 89.9% of total population.
Number of active cellular connections: 6.59 million, equivalent to 192.6% of the population

Connection Speeds: (early 2024):

Mobile networks: Average speed of 61.63 Mbps.
Fixed networks: Average speed of 139.13 Mbps.

SOCIAL MEDIA USERS：

Social Media Users: 2.5 million active users, making up 73.0% of the total population.

Uruguay Gambling Policy

As a country with stable politics and high Internet penetration, Uruguay has good conditions for developing the online gambling market. but. Uruguay adopts restrictive policies towards online gambling and the state has a monopoly on the online gambling market.

Legal Status

Legalized Gambling: Most forms of gambling are legal in Uruguay.
Online Gambling: Currently, only Banca de Quinielas de Uruguay is allowed to offer online gambling services.

Policy Development:：

August 16, 2022: Uruguay’s Senate votes to pass a proposal to create appropriate regulations for online gambling.
Regulatory agency: The General Directorate of Casinos of the Ministry of Economy and Finance will be responsible for supervision.

Market Current Outlook:：

Limited options for players as they can only access gambling via government-operated platforms.
Foreign and private operators face significant barriers to entering the market.

Venezuela Gambling Market

Overview of Venezuela

Venezuela is located in northern South America, bordered by Guyana to the east, Brazil to the south, Colombia to the west, and the Caribbean Sea to the north. Caracas, the capital, is the political, economic, and cultural center of the country. Venezuela is known for its vast oil resources, stunning natural landscapes, and vibrant culture.

Population and Age Demographics

Total Population: 29.12 million.
Population Growth: From 2023 to 2024, the population increased by 566,000 people, with a growth rate of +2.0%.
Gender Ratio: 50.6% female, 49.4% male.
Urbanization Rate: 88.5% urban population, 11.5% rural population.

Average Age: 28.3 years.

Age distribution:

0-4 years: 7.8%
5-12 years: 14.7%
13-17 years: 9.8%
18-24 years: 12.0%
25-34 years: 13.1%
35-44 years: 12.8%
45-54 years: 11.6%
55-64 years: 9.4%
65+ years: 8.9%

Language and Religion in Venezuela

Venezuelan language:

Indigenous Languages: In some areas, there are over 70 indigenous languages.
Other languages: Due to the influence of indigenous peoples and immigrants, local indigenous languages and foreign languages are also used in some areas.

Venezuelan Religion:

Roman Catholicism: Approximately 71% of the population.
Protestantism: About 17%.
Other religions include Jehovah's Witnesses, Mormonism, Judaism, Islam, and some non-religious individuals.

Internet and Social Media in Venezuela

INTERNET USERS：

Number of users: As of early 2024, the number of Internet users in Venezuela was 17.94 million.
Internet penetration rate: 61.6% of the total population.
Growth: Between January 2023 and January 2024, the number of Internet users increased by 348,000 (+2.0%).
Mobile Connections: 21.37 million active mobile connections, equivalent to 73.4% of the population.

Connection Speeds: (early 2024):

Mobile networks: Average speed of 11.15 Mbps.
Fixed networks: Average speed of 39.83 Mbps.

SOCIAL MEDIA USERS：

Social Media Users: 14.05 million active users, comprising 48.2% of the population.

Venezuela Gambling Policy

Venezuela's gambling market is in the process of recovering after being legalized again. Despite challenges with the economy and infrastructure, the country's young population and government support present positive prospects for future growth in the sector.

Historical Background:

In 2011, the government banned casinos and bingo halls.
In 2019, the government legalized a cryptocurrency casino to boost the value of the country's national cryptocurrency, Petro.
In 2021, President Nicolás Maduro overturned the ban, allowing the re-legalization of gambling activities.

Current Situation:

Casinos are reopening, and up to 30 casinos could be established nationwide, with several already operating.
Regulation and Development: The government aims to promote economic growth, job creation, and tourism by revitalizing the gambling sector.

Challenges and Opportunities:

Market Potential: The re-legalization of gambling in Venezuela offers new opportunities for operators.
Long-term Prospects: If the situation stabilizes, the market could offer substantial opportunities.
Economic Factors: Venezuela faces severe inflation, which could impact consumer spending.
Infrastructure Needs: Internet and telecom infrastructure improvements are necessary for iGaming development.
High Risk: Political and economic instability increases operational risks.

Summary

The iGaming market in Latin America is undergoing rapid growth and transformation. With diverse gambling regulations and varying stages of market development across countries, this region presents significant potential for the iGaming sector. As digital technologies advance and Internet penetration continues to rise, Latin America is poised to become a major driver of global iGaming growth. Operators aiming to establish a presence in the region must navigate each country's legal frameworks, understand unique market characteristics, and account for cultural differences to achieve success.

With 16 years of professional iGaming white label experience, TC-Gaming White Label has consistently demonstrated a sharp market insight during this pivotal period of rapid development and change. We are closely monitoring the progressive opening of gambling policies across countries in Latin America. This region, characterized by high Internet penetration and a substantial potential user base, presents a promising environment for the growth of the iGaming industry. By staying attuned to policy developments and market trends, we empower our clients to seize emerging opportunities in this dynamic market. TC-Gaming White Label has built an exceptional reputation in the industry through its advanced technical capabilities and extensive expertise accumulated over years of dedicated service. We believe partnering with TC-Gaming White Label will provide you with the most professional and reliable support to successfully navigate and capitalize on the opportunities in emerging iGaming markets.

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