Latin American Bookmakers

Online Betting in South America

The Latin American market, commonly called LATAM, is crucial for online bookmakers, who take advantage of legislative gaps and the opportunity to operate without restrictions, looking towards the future of this continent with optimism! The statistical data and predictions speak of an increase in the coming years of the collection of online betting, with a growth that is 10 times higher than the rest of the world. The lack of local operators has allowed for the consolidation of classic European bookmakers also in this area of the world, with Bet365 being the number one site in every country in South America, except for Venezuela where it ceased its operation in 2015.

1xbet supports most of the currencies in South America > 1XBET Review

One of the signs of this change for the countries of LATAM was the updating of the currencies supported by 1XBET, an innovative bookmaker that is expanding throughout all corners of the globe. On the 1XBET site most South American currencies are accepted, whilst the payment methods are designed to facilitate deposits from these countries. Obviously this site perfectly supports the Spanish language and could be the alternative choice if you do not find a local specialised bookmaker in your country.

Eur, US Dollar or local currency?
Still, betting in US dollars or in Euro is preferred by most of the punters in South America, as betting in dollars simplifies the choice of payment methods, having a free account at Skrill, Neteller or Ecopayz being the best choice for sending and receiving money instantly and without commissions.

The betting situation in Latam

The most profitable market is Brazil, where operators such as Bet365, Sportingbet, Oddsring and Betmotion battle for those offering the most affordable welcome bonus. If you are interested in the quality of the odds, the best bookmakers are 1XBET and Marathonbet, both supporting the Brazilian Real (BRL) and the Portuguese language. In Argentina, a large and expanding market, 10Bet and Planetwin365 combat for bets on football, both offering the best choice if you like football, even if Bet365 has suffered losses in terms of customers in recent years. Sportingbet and Betsson decided to construct a version of their website specially designed for Chile and Peru respectively. Their strategy is to win the confidence of local punters by offering a specific assistance service in these countries, and supporting the Chilean (CPL) and Peruvian (PEN) currencies.

Many bookmakers are starting to create localized sites for South America

The example of Sportingbet in Chile was followed by ComeOn, also operating a Chilean version of its site. Colombia is the emerging nation in this area, with William Hill the most used bookmaker, albeit it with strong growth for the same 1XBET proposing alternative deposit methods such as vouchers.

Going further north, we find Mexico, a strategic market for Bet365 and Sportingbet which generates on average 3 billion in annual profits, divided among many bookmakers -local and online- such as Caliente or Bwin, historical operators being in decline because they fail to adapt to innovative competition from new bookmakers licensed in Curacao. Uruguay is a land conquested by Marathonbet, a professional bookmaker with excellent odds that recently added the local currency of the Uruguayan Peso (UYU).

The situation in small markets
Despite their passion for sport and, in particular football being greatly developed, the online betting market in other countries is not so attractive from an economic point of view, justifying the strategic inaction on the part of the bookmakers. In fact, online gamblers in Bolivia, Ecuador and Paraguay prefer to continue betting on Bet365 due to not having a viable alternative. Bet365 also offers the option of watching the match live via a special section of its website, an attraction making a real difference in South America. In Latin America, the means of betting is undergoing some change. Beyond the traditional European bookmakers, there are offers from the North American Sportsbooks that are slowly gaining support among bettors. Costa Rica and Panama are the markets of growth, however no bookmaker currently has strongly focused on conquering these nations.