There are approximately 500 online gambling companies based out of Costa Rica, a Latin American country, which generates $14.5 billion from the industry. Surprisingly, despite this high number, it is third largest market in Latin America. Since the country lacks an organized regulatory body, it continues to attract online gaming companies and software vendors alike. Instead, regular commercial licenses are used to tax and regulate the industry.
The Research and Markets (R&M) organization recently released a report entitled, “Costa Rica Gaming and Gambling 2011” which begins with facts about the country such as:
- Population
- Economy
- Political environment
- Location
Also, the report highlights the infrastructure with regards to communications, payments and foreign investments. This report also reviews land-based casinos which discusses the tourism industry. The primary focus of the report is gambling, both online and land-based. As a result, specific gaming types are reviewed in detail, such as; lotteries, bingo, online gambling, betting and casinos. The report concludes with how advertising affects the industry.
A spokesperson for the organization discussed figures from the report with the press. He stated that the combination of legal and illegal gambling across the entire country equates to over $150 billion per year. Furthermore, 12 primary online gambling countries in the Latin American region produced combined revenues of more than $33 billion in legal gambling. From this amount, local Latin American’s contribute $10 billion.
The most profitable gambling countries in the Latin American region include:
- Costa Rica
- Mexico
- Brazil
- Argentina
- Colombia
- Chile
- Panama
- Peru
- Venezuela
As a result of these astonishing numbers, it is no wonder online gaming providers are searching for local partners in the Latin American region to secure the local population. Recently, Offsidegaming, an online software provider, announced an agreement with Latin American marketing partner, Tristar International to launch online sports betting, poker and casino sites.
click here to see most Popular PagesOffsidegaming is a well-established software developer with a plethora of online products, back office operations and extensive customer support. These resources will certainly assist Tristar International with strategic development. Tristar International also has an excellent record of gaming and a large local Internet marketing experience.
Latin American and South America are two large emerging markets in all industries. Therefore, by taking advantage of the disposable income many individuals now have, online casinos can obtain a slice of the pie. In the coming years, many online gaming sites will expand operations to target this area of the world.
