Latin American Sports Betting Market Poised for Growth, New Report Finds

News Americas, NEW YORK, NY, Tues. March 11, 2025: A new Grand View Research report, released recently, is projecting that the Latin American sports betting market size could hit $182.1 billion by 2030, up from $91.4 billion in 2023. In terms of the compound annual growth rate, this equals an 8.5% increase. Several factors are, of course, expected to contribute to this growth, and in this article, we will explore them.

One good example is the popularity of online platforms. Considering the convenience these platforms offer, it actually makes sense to expect the industry to grow this much or even more. Now, with just a simple touch of a button, you can easily bet online from any place at any time. To learn more about how such factors and many others could encourage this industry’s growth, read on.

The age of big data

We have already hinted at how online platforms have transformed the industry by increasing accessibility to betting experiences. But that’s not all – with these platforms, operators can now access deep customer insights that can help them provide even better experiences. And you could actually be surprised to learn that this is common not just in the sports betting industry but in the broader e-commerce sector as well.

Can you imagine that, according to experts, nearly two-thirds of businesses intend to be using such data to make decisions by 2026? The modern consumer does not just want to buy products; they also want to be understood. In fact, according to some approximations, 73% now want businesses to be able to understand their unique tastes and expectations. And the Latin American sports betting industry seems to know this quite well.

As punters bet online, it becomes possible to access various data aspects about them. For instance, you determine their betting preferences, habits, times and so on. With such data, you can customize experiences so that punters don’t waste a lot of time trying to find suitable opportunities. Looking at the statistics, Forbes found more than 81% of customers love such experiences. And surprisingly, 76% may be frustrated if they don’t find them.

Given that most punters actually love personalization, we could see more sportsbooks adopt it in a bid to attract and retain most of them. And as result, that may cause the industry to continue growing, just like Grand View projects.

Diversifying product portfolio

With the industry headed to hit the $182.1 billion mark, you can be sure that punters have varying preferences. So, how do you expect to maximumly appeal to their tastes if you don’t diversify your product portfolio? This is one of the reasons you might have seen several sportsbooks integrating other features, like casino games and live streaming, to reach as many people as possible.

By the way, do you actually know that, according to Allcorrect Games, this region’s gaming industry has more than 335 million players? This is already a huge statistic that can help drive business success. Plus, there is a considerable number of punters who also love casino gaming. So, when they bet online using your platform, they won’t need to switch to another platform to access these gambling experiences.

Live streaming ensures they can follow the events as they unfold. This keeps more punters connected with your platform, as they don’t just use it to bet online. And what better way to improve your edge in this competitive industry than to use such approaches?

Beyond just diversifying product portfolios, bookmakers are also expanding their payment methods. Well, it may sound simple, but payment methods can really help an industry to advance. Do you actually know that, according to Stripe, 85% of customers may leave just because they didn’t find their preferred payment method? So, seeing Latin American bookmakers adjusting their payments to suit punters from the region shouldn’t surprise you at all.

A growing emphasis on online security

When more people bet online, more customer data is available. This is why cybercriminals are becoming increasingly drawn to the industry. And since no one wants to be a victim of cyberattacks, Latin American bookmakers are increasing their security efforts to ensure punters can interact in more secure environments.

Mark you: if you don’t focus on online safety, winning over today’s punters might not actually be possible because most have become more discerning. Now that, according to Enzoic, about four in ten online sports bettors have encountered security incidents, the need to ensure online safety has become even more apparent.

Thankfully, bookmakers in the region have not ignored this matter. For instance, a considerable number have adopted more robust measures, like 2FA and SSL encryption, to stay ahead of threat actors. Such moves often increase user confidence and could encourage more people to join the sector, resulting in more growth.

What is our final word?

At this point, you can actually agree that the Latin American sports betting industry could continue growing, just like Grand View Research estimates. Bookmakers have been taking advantage of modern trends to improve their appeal and increase their market reach.

For instance, a considerable number are using customer data to provide more personal experiences that keep punters hooked to their platforms. Others are integrating more diverse options like live streaming. This ensures you won’t just bet online – you’ll find more engaging experiences that will encourage more return visits.