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Online Gambling in Latin America

By: Adam Richards, Thursday March 17th 2011
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There are about 500 online gaming operators that are based in the Latin American country of Costa Rica. The online gaming industry in that country generates about $14.5 billion, making it the third largest market in Latin America. One of the reasons why Costa Rica attracts online gambling operators and software providers is that there is no online gambling regulatory framework legislated by the government. Normal commercial licences that apply to all industries are used to regulate and tax online gambling companies.

The Research and Markets (R&M) organization has just released a detailed report on the country titled "Costa Rica Gaming and Gambling 2011". The report begins by providing an overview of Costa Rica with information on location, population, the economy and the political environment. There is a detailed section on the supporting infrastructure available for the gambling industry such as communications, foreign investment and payments. And since the report covers land based gambling as well it discusses the infrastructure available for tourism. The focus of the report is on Costa Rica's gambling market. Specific gaming activities like casinos, lotteries, bingo, betting and online gaming are discussed in detail. The report ends with a study of all advertising regulations that affect the gambling industry.

An R&M spokesman highlighted some of the figures from the report. He said, "It is believed that if both the legal and illegal gaming activities were combined in Latin America it is likely that the region would generate over $150 billion a year." He pointed out that the twelve principle gambling countries in this region generate combined revenues of over $33 billion in legal gambling. Of this local Latin Americans contribute about $10 billion a year and it is estimated that on average each inhabitant spends US$250 a year on gambling. Costa Rica, Brazil, Mexico, Argentina, Chile, Colombia, Peru, Panama and Venezuela are the more prolific gambling countries in the region.

It is hardly surprising therefore that online gaming operators and software providers are looking for local partners in Latin America in order to secure a foothold there. Software provider Offsidegaming has announced an agreement with Latin American marketing partner Tristar International to launch a number of online sports betting, casino and poker sites. Offsidegaming has delivered a complete range of gaming products, along with back office operations and customer services facilities. It will also help Tristar International in the development of a dedicated player acquisition strategy. Tristar International has a great track record in gaming and considerable local Internet marketing experience.

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