The news of the casino gaming industry in Latin America

Globally, the COVID 19 pandemic cut the billing of casino venues in half. In Latin America this was not the exception; many countries took rigorous positions regarding the opening of these types of establishments. This, of course, due to the purely social character of the establishments dedicated to chance.

However, this does not mean that the casino industry has died out and that there are no longer any possibilities to enjoy this environment. On the contrary, the decrease in customers in physical locations prompted players to move to online casinos such as https://vulkanvegas.com/es/category/slots. For obvious reasons, this brought with it an increase in the creation of virtual spaces of this type.

Growth and popularity

Latin America raises at least $ 5,000,000 per month in casino games, and by the end of this year a considerable growth of 72% is predicted in this industry (Leisure Guide, 2021). And this is not surprising, since Spanish speakers have games of chance as a very close part of their culture, from dynamics such as good to traditional lotteries.

Most popular games

• Slot machines
• Blackjack
• Roulette games
• Poker
• Live Casino

Most famous suppliers

• Novomatic
• NetEnt
• Microgaming
• Pyatech
• Evolution Gaming

From analog to digital

Although the difference between playing in a physical establishment and a website is great, the change was positive. Aside from the fact that playing virtually is fun and safe, the world of digital bookmakers has also evolved a universe since the quarantine. This advance is accompanied by the urgency of Latin American countries to legislate the virtual world of gambling sites.

However, the legal framework of this new form of gambling will largely depend on the country where we are located.

Brazil

Gambling in Brazil, legal since December 2018, generates around US $ 546 million (only in online casinos). Although there have been many controversies and debates about whether to ban it again or not, in October 2021 it was decided to withdraw the ban proposal. Instead, a legalization and regulation agreement was reached with measures set by the Central Bank of Brazil (Focus GN, 2021)

Colombia

Colombia was the first country in Latin America to legalize online gambling (the law was approved in 2016). Coljuegos and the Consejo Nacional de Juegos de Luck y Azar (CNJSA) are the bodies responsible for supervising, granting licenses and guaranteeing that all casinos comply with the standards established by law.

In order to play legally in Colombia, you must ensure that the online casino is licensed by the government, and under the authority of the Coljuegos division.

Argentina

In Argentina, each province has its own laws on gambling. There are no national ordinances that regulate the casinos themselves. However, in October 2021, the ALEA – Argentine State Lottery Association – seminar on regulation and administration of online gambling ended. In this, a roadmap was developed: a map for the application of the concepts, processes and measures necessary for the regulation and regulation of online gambling (Focus GN, 2021).

Other countries

Although many countries in the Caribbean and South America have strong regulations regarding the establishments and games allowed in each country, this is certainly not the case for the majority. For example, in Mexico and Chile the existing laws on the matter are very old, and do not favor the collection of taxes by government entities.

In the case of Venezuela, Peru and Uruguay, online casinos are not covered by the law (Wide Panda, 2020).

Supervise or non-supervise

Often times, Latin American players will find foreign online bookmakers that allow them to play, even without them having the required license in each territory of the region. Despite the fact that these houses meet their payments and have a good reputation in the world of gambling, doing this is always a risk.

The regulations are positive for the player because they are responsible for ensuring that the chances of hitting the games of chance offered by casinos are statistically plausible. This avoids an excessive profit on the part of the bookmaker.