Forecast: Online Gambling Market in Latin America to Grow Fivefold by 2028

The online gambling market in Latin America is projected to increase by nearly five times by the year 2028, as reported by European Gaming based on findings from the Vixio analytical platform.

In 2024, the Latin American online gaming market size is estimated at $2.5 billion, with expectations for this figure to rise to $12.3 billion by 2028.

Brazil, Argentina, and Peru are identified as key gambling jurisdictions in the region. Brazil is set to account for over half of the total regional online gambling market, with the official launch of regulated betting markets starting on January 1, 2025. Vixio highlights Brazil’s significant influence on the gambling landscape in Latin America.

Other countries in the continent are also attracting interest from major international gambling companies. In 2024, Bet365 and Stake brands were announced to enter the regulated gambling market in Peru, with Stake expanding its presence in the region by establishing a new hub in Bogotá, Colombia, as part of its growth strategy.