Today, TC-Gaming White Label introduces a fascinating gambling market in a very special country: Guyana. Many might not know much about this nation, or even where it is located. Yes, Guyana is a small country—but despite its size, its economic growth has been phenomenal, almost rivaling that of Saudi Arabia. While Saudi Arabia took 50 years to reach its current per capita income, Guyana achieved similar levels in under 19 years. In South America, Guyana can truly be seen as a rising star. Let’s dive into the South American gambling market with a closer look at Guyana.

Guyana Overview:

On the map of South America, Guyana might not seem particularly striking. However, its vast tropical rainforests, breathtaking Kaieteur Falls, abundant mineral resources, and rapidly expanding oil industry have turned it into a focal point of international attention. With fast-paced economic growth and increasingly open policies, Guyana is becoming an emerging economic powerhouse in South America. Industries such as agriculture, mining, tourism, and gambling all hold tremendous opportunities and potential here.

Additionally, Guyana is a member of several prominent Latin American and Caribbean organizations, such as the Caribbean Community (CARICOM) and the Union of South American Nations (UNASUR), enhancing its regional influence.

Guyana’s Geography

Guyana has a land area of approximately 215,000 square kilometers, making it relatively small among South American countries. Located in the northeastern part of South America, Guyana's geographic proximity to Latin American countries often categorizes it within the "Latin America region." Guyana shares borders with Suriname to the east, Venezuela to the west, and Brazil to the south. Its capital, Georgetown, is the political, economic, and cultural center of the country. Situated along the Atlantic coast, it benefits from a strategic port location, serving as an important transportation hub. The coastal region is the primary area for population concentration and economic activities.

What Language is Spoken in Guyana?

The official language of Guyana is English, making it the only country in South America to have English as its official language. Unlike most Latin American countries, which predominantly speak Spanish, Guyana's use of English stems from its history as a British colony until its independence in 1966. Its culture, influenced by British colonialism, sets it apart from traditional Latin cultures. However, other languages are also spoken in the country, mostly local languages and dialects used within various ethnic groups. Examples include:

Guyanese Creole: A blend of English, African, Dutch, and Indian cultural elements, this is the most commonly spoken language in everyday life.

Hindustani (Bhojpuri): Spoken primarily within Indo-Guyanese communities due to the significant Indian population.

Indigenous Languages: Used by some of the native Amerindian groups.

Guyana's Religious and Cultural Diversity

Guyana is a religiously diverse nation with many celebrations and holidays reflecting this diversity. Festivals such as Easter and Christmas (Christian), Diwali and Holi (Hindu), Eid al-Fitr and Eid al-Adha (Muslim) are widely observed.

• Christianity (~63%): Predominantly Protestant denominations like Baptist, Anglican, and Pentecostal churches dominate, with a smaller Roman Catholic population, mainly along the coastal areas.
• Hinduism (~25%): Practiced largely by Indo-Guyanese residents, with popular celebrations like Diwali drawing participation from the broader community.
• Islam (~7%): Followed mainly by descendants of early Indian immigrants, most of whom are Sunni.
• Other religions: Include African traditional religions, Baháʼí Faith, and a minority of atheists or unaffiliated individuals.

How is Guyana's Economy?

Guyana's economy has been booming, driven by two key sectors: oil and gold. While agriculture, forestry, and tourism remain significant, these two industries have been transformative. The country has seen a remarkable increase in GDP per capita, jumping from just $1,085 in 2015 to $20,602 in 2023. Notably, between 2020 and 2023, GDP per capita skyrocketed from $6,863 to $20,602, more than tripling in just three years. This rapid economic growth is rare globally and one of the reasons TC-Gaming White Label has turned its attention to the Guyanese gambling market.

The Oil Industry Drives Economic Takeoff

Oil has become the centerpiece of Guyana's economy. Since the discovery of substantial offshore oil and gas resources in 2015, the industry has experienced explosive growth. Particularly in the field of oil exports, the economic development has been described as “rocketing.” Investments from international oil giants like ExxonMobil have rapidly positioned Guyana as an emerging global player in oil production, officially becoming an oil-exporting country in 2020. The surge in oil revenues has not only driven the country's GDP to grow at double-digit rates but also made Guyana one of the fastest-growing economies in the world.

Gold Industry

In addition to oil, Guyana’s gold industry is also thriving. As one of Latin America's key gold producers, it attracts significant investment from foreign mining companies annually, making it another pillar supporting the national economy.

Guyana’s Population and Internet Landscape

Population in Guyana

Guyana is one of South America’s least populated countries, with a total population of approximately 816,800 as of 2024. Due to geographical constraints, Guyana has a low population density. Most residents are concentrated in the capital city, Georgetown, and coastal areas, while the inland regions are sparsely populated due to dense forests and complex terrain.

Gender Ratio: Women make up 51.0%, while men account for 49.0%.

Urban and Rural Distribution: About 27.3% of the population resides in urban centers, while 72.7% live in rural areas.

Average Age: The average age in Guyana is 26.1 years, reflecting a relatively young population structure.

• 0–4 years: 9.6%
• 5–12 years: 15.1%
• 13–17 years: 9.1%
• 18–24 years: 12.4%
• 25–34 years: 16.7%
• 35–44 years: 11.6%
• 45–54 years: 10.7%
• 55–64 years: 8.3%
• 65 years and older: 6.6%

Internet Landscape in Guyana

Guyana's internet development is impressive! As of January 2024, the country had 696,900 internet users, accounting for 85.3% of the total population. There were 686,900 cellular mobile connections, equivalent to 84.1% of the population. Essentially, almost everyone has a mobile phone, with some individuals owning more than one! From January 2023 to January 2024, Guyana saw an increase of 5,042 internet users, reflecting steady growth at a rate of 0.7%.

Average Cellular Network Speed: 22.40 Mbps

Average Fixed Broadband Speed: 61.85 Mbps

圭亚那社交媒体有多火？

Social Media Popularity in Guyana Social media is highly active in Guyana. At the start of 2024, there were 493,100 active social media accounts, representing 60.4% of the population. This indicates that most people not only have internet access but are also active on social platforms.

• Facebook: The most popular platform, with 493,100 users and an ad reach of 60.4%.
• Instagram: Second in popularity, with 165,400 users and an ad reach of 20.3%.
• Facebook Messenger: 364,500 users, covering 52.3% of internet users.
• LinkedIn: 140,000 members, covering 17.1% of the total population.
• X (formerly Twitter): While less popular, it has 43,900 users, covering 5.4% of the population.

The Current State of Gambling in Guyana

As an emerging economic star in South America, Guyana also shows significant potential in the gambling industry. While Guyana's gambling market is not yet comparable in scale to major Latin American countries like Brazil and Colombia, its growing economy and accelerating internet penetration make it a market worth watching.

Legality and Regulation of Gambling

Gambling is legal in Guyana, but the market remains in its early stages of development. Current laws allow for the establishment of casinos and sports betting businesses, but the regulatory framework is relatively loose and lacks the maturity seen in other countries. However, lottery games are widespread and dominate Guyana's gambling scene.

Land-Based Casinos

Most of Guyana’s physical casinos are located in the capital, Georgetown, and some coastal cities. These primarily cater to local high-end consumers and a small number of international tourists.

Casino Licenses: The Guyanese government permits certain land-based casinos to operate under a licensing system.

iGaming (Including Online Sports Betting)

As internet penetration in Guyana increases, iGaming is gaining attention, particularly among younger generations. Sports betting is one of the fastest-growing sectors in Guyana's gambling market. Football matches, in particular, attract a significant number of bettors. With the rise of live broadcasts of international sports events and iGaming platforms, sports betting has become a new highlight in Guyana’s gambling industry.

Unlicensed iGaming: Despite its growth, iGaming regulations in Guyana are still underdeveloped. Most iGaming activities are conducted through offshore platforms.

Factors Driving the Growth of Guyana's Gambling Industry

Internet Penetration and Digital Development

As of 2024, Guyana’s internet penetration rate has reached 85.3%, creating a strong foundation for the iGaming market. The widespread use of social media also contributes to the growth of gambling.

Economic Growth and Rising Consumer Spending

Guyana's economy has grown rapidly due to oil exports, leading to increased per capita income and enhanced purchasing power. This economic boost provides fertile ground for the gambling market.

Cultural and Entertainment Needs

Gambling has gradually become a part of daily life in Guyana, both as a form of entertainment and due to the country’s relatively open religious and cultural attitudes towards gambling.

Popular E-Wallets in Guyana

International E-Wallets

As Guyana’s local electronic payment systems are still maturing, most users prefer internationally recognized e-wallets:

1. PayPal: Widely used in Guyana, particularly among freelancers and for cross-border payments.
2. Skrill: Supports multi-currency transactions and is popular for iGaming platforms and cross-border payments.
3. Neteller: Similar to Skrill, often used for gambling payments and provides virtual card services.
4. Wise (formerly TransferWise): Specializes in cross-border remittances and international payments with low fees and multi-currency support.

Cryptocurrency Wallets

Guyana’s cryptocurrency market is growing, and some residents have started using cryptocurrencies for payments and investments:

1. Coinbase Wallet: Offers cryptocurrency trading and storage, supporting major coins like Bitcoin and Ethereum.
2. Binance Wallet: A professional cryptocurrency platform with a wider selection of coins.
3. Trust Wallet: Supports various digital assets.

Local Bank-Based Electronic Payment Services

1. Republic Bank's Online Banking: Provides basic account management and online payment options.
2. GTT Mobile Money (MMG+): A mobile payment service from Guyana’s telecom provider, enabling local payments, transfers, bill payments, and mobile top-ups.

Other Common Payment Methods

1. Visa/Mastercard: Can be linked to e-wallets or used directly for payments.
2. Western Union Digital: A widely used payment method in Guyana.

Summary

Guyana, with its increasingly widespread internet coverage, high percentage of active social media users, and steadily improving per capita income, provides a solid foundation for the expansion of gambling platforms. At the same time, the gambling culture in Guyana is gradually penetrating everyday life, with strong demand growth for both offline and online gambling. Although the gambling market is still in its early stages, it has significant development potential. As a result, the gambling industry in Guyana is in a growth phase full of opportunities. However, with potential comes some uncertain factors, such as:

• Legal and Regulatory Gaps
• Although gambling is legal, Guyana lacks a specialized regulatory authority for gambling, and market supervision is relatively weak. This can lead to chaotic competition in the gambling market.
• Payment channel restrictions
• Guyana has limited payment options for gambling, and many players rely on international payment tools and cryptocurrencies.

TC-Gaming White Label, as a leading provider of white-label iGaming services, helps gambling platforms seize market opportunities. TC-Gaming focuses on providing gambling clients with a one-stop white-label service, offering everything from technical support to operational advice, data analysis to marketing promotion. TC-Gaming ensures the smooth operation of your gambling platform. Although the online gambling regulations in Guyana are not yet fully developed, this could present a good opportunity for future expansion. Whether in Guyana’s emerging gambling market or other international gambling markets, TC-Gaming helps gambling clients stand out in the competition. Choosing TC-Gaming means choosing a winning partner in the future gambling market.