Latin America, gambling companies, gambling restrictions

The state of Latin America: Where are the key regulated markets?

12 Jun 2023

The Latin American market has been the next big thing for gambling companies for years now; it’s a place that every company seemingly has one eye cast towards, so long as the regulations are favorable.

As each country has opened up to legalising gambling and the millions that it brings in terms of tax revenue, operators, affiliates and suppliers from around the world have clamoured to get a piece of the market.

Currently, the continent is made up of a complete mixture of regulations, some parts are wholly restrictive, others are permissive to a near-oblivious level and the rest are working to regulate as fast as possible – if they haven’t already.

Here, Gambling Insider explores the regulations found in each country and what is and isn’t currently legal.


Gambling Legal: Yes

Argentina, much like the US, regulates all of its gambling on a state-by-state basis – leaving it to the individual jurisdictions to decide what kind of rules to set when it comes to gambling restrictions.


Gambling Legal: Yes

While gambling is legal in Brazil, the market is near-universally unregulated. However, attempts to regulate gambling are now being pushed forward and are expected to pass in the near future.


Gambling Legal: Yes

Although online gambling is technically illegal, the state doesn’t prosecute those that do it – while land-based betting is entirely legal.


Gambling Legal: Yes/No

While gambling in Chile is legal, online casinos remain illegal – though players are not prosecuted for doing so – but, there are several rule changes that could be coming soon that will legalise all forms of gambling in the country and regulate it simultaneously.


Gambling Legal: Yes

Colombia has legal betting, so long as the companies that enter Colombia’s betting market have a local licence.

Costa Rica

Gambling Legal: Undefined

The Costa Rican Government have an ‘unspoken approval’ of gambling in the country, though the practice is not strictly approved – since it is included under the country’s gaming law.


Gambling Legal: No

Ecuador completely closed off all gambling in 2011, and the industry has remained banned ever since the Executive Decree was ordered. However, foreign websites are allowed.


Gambling Legal: Yes

While gambling is legal in Guyana, much of the country’s online gambling remains unregulated.


Gambling Legal: Yes


Gambling Legal: Yes


Gambling Legal: Yes


Gambling Legal: Yes


Gambling Legal: Yes


Gambling Legal: Yes


Gambling Legal: Yes – the two casinos accept cryptocurrency as payment.

Right now, the only legal gambling found in Venezuela is in casinos that also accept cryptocurrency.