Casino obtained the major revenue share in the Latin America Gambling Market -6Wresearch
The Latin America Gambling Market is amongst the most prominent markets owing to the growing internet penetration, growing online gambling websites, and rising income levels. The coronavirus pandemic challenged the growth of the market owing to the lockdown imposed on the countries of the region. On account of the strict lockdown imposed on Latin American countries, consumers avoided to become a part of any gatherings owing to the fear of getting infected by the deadly virus. The online gambling platforms became increasingly popular as they enabled consumers to play by sitting comfortably in their homes. Factors like cost-effectiveness of mobile applications, internet penetration and advanced technologies are stimulating the growth of online gambling market.
According to 6Wresearch, the Latin America Gambling Market size is projected to grow at a CAGR of 18.4% during 2022-2028. The market in the region has been propelling effortlessly and is projected to obtain more growth over the forecast period. Brazil has been dominating this market and will continue to dominate it in the years to come. There are various gambling activities which are illegal in Brazil, still the nation will continue to dominate the sector.
According to Ravi Bhandari, Research Head, 6Wresearch, “Casino is accounting for the largest share of the Latin America Gambling Market attributed to the number of gambling alternatives available under one platform. Also, casino attracts tourist and many tourists visit Mexico in order to experience real-life environment of casino. This segment is anticipated to retain its dominance along with betting segment. The betting segment is also likely to register growth in the coming years owing to the rising demand for E-Sports betting.”
Land based segment is dominating the sector and it will continue to boost the market share owing to the availability of large numbers of casinos in Mexico. Also, the government in Mexico allow casino as a legal activity as casino aids in generating revenue, and it helps the government to earn taxes. Due to the rising internet penetration, technological advancements, and cost-effectiveness of mobile applications, the online segment is also projected to fuel the market growth.
“Latin America Gambling Market (2022-2028)” report provides an in-depth analysis with 44 figures and 12 tables, covered in 115 pages. The report on the Gambling Market in Latin America comprehensively covers the industry by product type, channel type and countries. The report provides a detailed as well as unbiased analysis of the on-going growth drivers, opportunities/high growth areas, and trends which would support the stakeholders to align and devise their market strategies as per to the latest and future market dynamics.
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