The iGaming Landscape in Latin America: a Player in Constant Evolution for the Region
The iGaming market in Latin America is experiencing rapid growth driven by internet penetration and the adoption of video games in the region. With over 650 million people and an internet penetration rate of 66%, Latin America is becoming a key market for game developers and distributors, with an estimated value of $4.1 trillion by 2023.
PayRetailers stands out as a leading payment services company for the iGaming industry in Latin America. Their local expertise and knowledge enable them to offer technology solutions tailored to the specificities of each market in the region.
Brazil is a major player in the region, ranking as the third country with the highest number of players in global video game competitions. With 70% of Brazilians participating in online gaming, projected gaming revenue growth is expected to reach $2.6 billion by 2026. The Spanish company adapts to the needs of this growing market by providing specific technological solutions for the Brazilian market.
Colombia is considered one of the most attractive online gaming markets in Latin America, thanks to its favorable business climate and legal security. Since the regulation of online gambling in 2016, the Colombian market has experienced significant progress, with a projected annual growth rate of 8.1% between 2020 and 2025. Leveraging their extensive local experience, PayRetailers has positioned itself as a strategic partner for regulated gaming platforms throughout Latin America.
In Argentina, the iGaming market is regulated by provinces, and the legalization of online gambling in Buenos Aires has had a significant impact on the gambling industry throughout Latin America.
Peru has experienced exponential growth in the online gambling and sports betting industry in recent years. With the approval of laws to regulate these activities, the country's digital payment market has experienced steady growth.
PayRetailers aims to expand into new markets in Latin America, such as Uruguay, Paraguay, and the Caribbean, to capitalize on growth opportunities in the region. The company is committed to staying at the forefront of the industry by offering updated and tailored solutions to meet the needs of merchants and players. With their local presence and membership in fintech associations across multiple countries, PayRetailers is well-positioned to provide quality advice and services to merchants interested in operating in the region. Read more!
View source version on businesswire.com: https://www.businesswire.com/news/home/20230717227896/en/
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