Analysts forecast that gaming revenues in Latin America will rise to $12.3 billion by 2028
In the 2020s, Latin America has transformed from a region with emerging iGaming markets into a continent with a developed gambling industry. This shift has been driven by the implementation of regulatory frameworks in Colombia, Panama, Peru, and Argentina.
The exponential growth in Latin America is set to accelerate in 2025 with the launch of Brazil's betting market. A total of 114 applications for federal licenses for online casinos and sportsbooks have already been submitted.
According to Vixio's analysts, Brazil is poised to transition from a gray market to a leading legal market. The GGR in this region is expected to reach $2.9 billion (₽290.09 billion) in 2025, accounting for 47% of the regulated market in Latin America.
In addition to Brazil, the $12.3 billion (₽1.23 trillion) figure highlighted in Vixio's report is supported by several factors: "By 2028, the Mexican market is projected to exceed $2 billion (₽200 billion), up from $1.3 billion (₽130.04 billion) in 2024. Colombia is expected to surpass the $1 billion (₽100 billion) mark, while Peru is forecasted to generate $436 million (₽43.61 billion) in 2025 and increase its gaming revenue to $850 million (₽85.1 billion) by 2028."
Currently, Mexico presents significant commercial opportunities, as its licenses are tied to land-based operators. Meanwhile, Peru is regarded as a burgeoning gaming market, recently issuing 118 licenses to 63 companies. This development indicates rapid growth and intense competition within the new regulatory framework.
At the same time, BGaming is expanding into European and Latin American markets through the aggregator Astro Play.
Blog
Explore more interesting news
Amigo Gaming has announced a new partnership with Elantil, a company renowned for its flexible, modern, and operator-focused approach. As part of the agreement, the ...
The Brazilian Senate's Economic Affairs Committee (CAE) has approved a bill to gradually increase the gross gaming revenue (GGR) tax for casino operators from 12% ...
Pragmatic Play has announced a new partnership with Loterías Torito, aimed at strengthening the provider's position in the regulated Peruvian iGaming market. This agreement will ...
Lotte Tour Development Co. Ltd, the owner of the South Korean casino Jeju Dream Tower, has released its financial results for November 2025. During this ...
Genting Malaysia's revenues significantly exceeded forecasts for the third quarter of 2025. The group's total revenue rose by 22% year-on-year, reaching $813 million (63.6 billion ...
A user of the online casino DraftKings in Michigan has set a new record for the American gambling industry by winning the largest jackpot in ...
Content provider for online casinos, Amigo Gaming, is continuing its expansion in Latin America. The company has announced an extension of its strategic partnership with ...
The regulated sectors of online betting and land-based gambling have played a crucial role in the significant increase in Brazil's tax revenues in October and ...
Finland is steadily moving towards the licensing of its iGaming sector. Today, the country's authorities published two draft technical documents that will form part of ...
BGaming, a prominent game developer, has been honored with the prestigious SiGMA Central Europe Award for "Best Casino Game of 2025" for its viral hit, ...
The iGaming industry in Ontario set record results in October 2025, achieving its highest figures since the launch of the regulated market in 2022. According ...
Booming Gaming has announced a partnership with online casino operator Placard, marking the supplier's debut in Portugal's regulated iGaming market and strengthening its presence in ...
