iGaming in Latin America: Top Markets, Regulations & Affiliate Potential
Latin America’s iGaming ecosystem is entering a phase of structural consolidation. Once characterised by fragmented adoption and regulatory ambiguity, the region is now moving toward a more integrated digital architecture – driven by rapid infrastructure deployment, wider mobile access, and a measurable evolution in user engagement.
With more homes getting high-speed internet and smartphones becoming everyday staples, it’s easier than ever for newcomers to try their luck at online slot machines or bet on a favourite sports match. For affiliates, it’s a rare convergence of infrastructure, mature audience readiness, and market momentum. The question is where to begin?
In this article, we’ll explore six countries – Argentina, Brazil, Chile, Colombia, Mexico, and Peru – to see how each one navigates this digital betting boom. We’ll also look at the trends lighting up the market, the regulations that shape it, and the cultural spark that makes Latin America (LatAm) such an exciting place for iGaming. Finally, we’ll spotlight the key opportunities affiliates can seize if they want to jump on this new wave.
Top Six Markets in Latin America
Latin America draws stakeholder attention as a lucrative iGaming destination due to developed internet infrastructure, broader digital access, and ongoing regulatory reforms.
The forecasts are encouraging: Grand View Research projects that the region’s online gambling industry will reach about USD 13.48 billion in revenue by 2030, showing a 10.4% compound annual growth rate (CAGR) from 2024 to 2030.
Argentina
Argentina is regarded as a promising gambling hub, forecasted to reach approximately USD 6.55 billion by 2029. In 2024, betting platforms were used by 14.6 million people, of which 78% accessed unregulated sites – highlighting the need for shifting oversight from the existing province-by-province model toward a more unified national regulatory framework.
On 28 November 2024, the Chamber of Deputies passed a bill, which, if further validated by the Senate, would introduce stricter advertising rules and player verification measures – bringing greater accountability and making the market more secure.
Brazil
January 2025 marked an important milestone for Brazil, as its iGaming market went totally legal making the country a strategically important and promising investment destination, with the betting revenue projected to reach USD 10 billion by 2029.
The largest country in LatAm with 218 million inhabitants, deep internet penetration, digital literacy, and a passion for sports and betting, Brazil offers vast iGaming opportunities in strict adherence to licensing, advertising, and responsible gaming requirements outlined by the Ministry of Finance.
Chile
Chile is quickly making waves in the online gaming world. LatAm iGaming analysts predict it will grow at about 6.9% per year from 2020 to 2026. Part of this success stems from the government’s commitment to regulating online gambling. A bill introduced in 2022 and currently awaiting Senate approval seeks to establish a licensing system for online casinos and sports betting, which would create a safer, more transparent environment for players.
If the proposed regulations pass, you can expect even more international interest in Chile. After all, a smaller market with enthusiastic players can sometimes deliver better results than a massive but oversaturated one.
Colombia
Colombia was the first Latin American country to legalise online gambling in 2016. This early move gave it a head start. Regulations in place cover a wide range of games, including online casinos, poker, bingo, and sports betting. This comprehensive approach has fueled steady growth over the last few years.
One significant factor is Colombia’s rapidly increasing mobile internet penetration. It’s estimated that by 2029, around 97% of Colombians will have access to mobile internet. That high level of connectivity is perfect for iGaming platforms, which often rely on mobile apps to engage users. Colombia’s success story shows that a well-regulated market can provide strong returns for operators and affiliates.
Between 2025 and 2028, Colombia is projected to contribute approximately 23–25% of Latin America’s total gross gaming revenue, solidifying its role as a major force in the region’s growing iGaming industry.
Mexico
With a population of more than 130 million, Mexico holds enormous potential: a recent update to the national regulations projects online gaming revenue to exceed 19 million euros by 2027. Although Mexico still lacks a fully detailed legal structure specifically for online gambling, many international operators see its size and established casino culture as hard to ignore.
Traditional casino games and lotteries have long been popular in Mexico. Now, people are shifting toward digital versions of these games. As the market continues to evolve, Mexico is poised to become one of the key players in Latin American iGaming.
Peru
Peru has become a significant iGaming market after passing online gaming and sports betting laws. Effective in 2024, these regulations provide a stable environment for operators.
As of 2024, Peru’s total gambling market is estimated at USD 2.51 billion, with online gambling contributing approximately USD 1.2 billion. Looking ahead, projections suggest the country’s iGaming sector could generate USD 145 million in revenue in 2025, driven by digitalisation, improved payment infrastructure, and a well-defined regulatory framework.
With increasing numbers of players and government support, Peru is becoming an attractive location for iGaming operators.
Potential and Trends
Research by Vixio indicates the entire LatAm iGaming market could bring in more than $6.75 billion (about 6.5 billion euros) in annual revenue by 2027. Several key trends are pushing this growth forward:
- New Laws and Regulations: As Brazil, Chile, and Peru finalise regulations, the environment becomes more inviting for global operators to invest.
- Shifting Demographics: Younger audiences, who often prefer online experiences over brick-and-mortar venues, are fueling mobile app downloads, live dealer games, and esports betting.
- Mobile-First Player Behaviour: With smartphone penetration exceeding 80% in many LatAm countries, mobile-optimised platforms and apps are now the default expectation for player engagement.
- Rise of AI-Driven Marketing: Operators and affiliates are increasingly relying on artificial intelligence for player segmentation, real-time personalisation, churn prediction, and ROI optimisation.
- Shift Toward Responsible Gambling Compliance: Stricter laws on advertising, age verification, and self-exclusion – particularly in Brazil and Argentina – are pushing affiliates to adopt compliance-first strategies and more ethical acquisition models.
- Sports Obsession: Football fever runs deep in Latin America, but other sports – like basketball and baseball – are also gaining ground. This sports culture paves the way for robust betting markets.
Opportunities for Affiliates
Affiliates can open the door between operators and local audiences, earning a commission by bringing new players to online platforms. This model is especially powerful in the region, where personal recommendations and tailored marketing go a long way.
As more operators look to establish themselves in the region, the demand for effective online sports betting affiliate programs will only grow. This presents a perfect opportunity for anyone with an ear to the ground – someone who understands local tastes and can create content that resonates with people in each country. Whether it’s blogging about major football events, running social media campaigns, or highlighting the latest online casino games, there’s room for creativity and a genuine chance to carve out a profitable niche.
The key is authenticity. Latin America is made up of diverse communities, each with its own preferences and traditions. In this context, localised content isn’t optional – it’s essential. Those who adapt their tone, references, and payment messaging to reflect local expectations consistently outperform those who rely on generic translations.
Affiliates who take the time to learn these nuances – and who can connect on a personal level – are more likely to gain players’ trust. In return, and with the help of the right sports betting and casino affiliate software, they’ll see their reputation grow and their commissions rise.
At the same time, regulatory momentum across Latin America is reshaping the affiliate landscape. As more countries implement clear iGaming frameworks, the market is shifting from grey to regulated, signalling a broader trend of industry maturation.
Now, with legislation aligning across key markets and digital adoption accelerating, it’s the ideal moment for affiliates to step in – not just to promote platforms, but to help define how players engage with them.
Final Thoughts
LatAm iGaming’s future looks incredibly bright. Every day, more people are discovering the thrill of betting on their favourite sports or spinning the reels of a digital slot machine. And with a surge in internet access, mobile adoption, and supportive regulations, this surge is likely to continue.
For operators, exploring these new markets means reaching an audience hungry for fresh experiences. For affiliates, it’s all about building genuine connections with local players – tapping into cultural passions and unique sports traditions. Brazil, for instance, lives and breathes football, while Mexico has a casino tradition ready for an online environment. Each country tells its own story, offering different ways to stand out.
Ultimately, success in Latin America’s iGaming market depends on authentic connections and smart strategies. Understand what makes each market tick, adapt to its local customs, and offer content that resonates on a personal level. This isn’t just another region – it’s a community of proud cultures, each ready to embrace new forms of entertainment. The doors are open step-through for you to see where they lead.
