Online Casinos - South America | Statista Market Forecast

Revenue in the Online Casinos market is projected to reach US$2.13bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 9.35%, resulting in a projected market volume of US$3.05bn by 2028.
In the Online Casinos market, the number of users is expected to amount to 5.5m users by 2028.
User penetration will be 1.1% in 2024 and is expected to hit 1.3% by 2028.
The average revenue per user (ARPU) is expected to amount to US$451.10.
In global comparison, most revenue will be generated United States (US$7.64bn in 2024).
With a projected rate of 35.7%, the user penetration in the Online Casinos market is highest Canada.

Definition:

The online casinos market refers to the segment of the online gambling industry that offers a range of traditional casino games, such as blackjack, roulette, baccarat, and slot machines, that can be played over the internet. Online casinos provide customers with the opportunity to play these games from the comfort of their own homes or on the go through various devices, including computers, tablets, and smartphones.

Additional Information

Data includes revenue figures in Gross Gambling Revenue (GGR), which is the total amount of bets placed by customers minus the amount paid out in winnings, Users, average revenue per user (ARPU), user penetration rate, and a breakdown of the product shares of the total online casino market. User and revenue figures represent B2C services.

Online slot machines such as Starburst, Mega Moolah, and Gonzo's Quest
Online card games such as poker, blackjack, baccarat, and their variants
Online roulette games such as European, American, and French roulette

Offline or land-based casino establishments such as casinos and gaming halls
Skill-based games such as chess, backgammon, and Go
Betting on non-casino games such as sports, politics, and entertainment.

The Online Casinos market in South America is experiencing significant growth and development.

Customer preferences: South American customers are increasingly drawn to online casinos for their convenience and accessibility. They appreciate the ability to play their favorite casino games from the comfort of their own homes, at any time of the day or night. Online casinos also offer a wide variety of games, ranging from traditional table games like blackjack and roulette to popular slot machines and video poker. This wide range of options caters to the diverse preferences of South American customers.

Trends in the market: One of the key trends in the South American online casino market is the increasing use of mobile devices for gambling. As smartphone and tablet usage continues to rise in the region, more and more customers are choosing to play casino games on their mobile devices. This trend is fueled by the development of mobile-friendly casino platforms and the availability of mobile apps, which provide a seamless and convenient gambling experience. Another trend in the South American online casino market is the growing popularity of live dealer games. These games allow customers to play with a real dealer in real-time, creating a more immersive and interactive experience. Live dealer games are particularly appealing to South American customers who enjoy the social aspect of gambling and prefer a more authentic casino atmosphere.

Local special circumstances: One of the factors contributing to the growth of the online casino market in South America is the relatively low penetration of land-based casinos in the region. Compared to other parts of the world, South America has a limited number of brick-and-mortar casinos, particularly in smaller towns and rural areas. This lack of physical casino options has driven many South American customers to seek online alternatives.

Underlying macroeconomic factors: The development of the online casino market in South America is also influenced by the region's economic conditions. South America has experienced economic growth in recent years, resulting in an expanding middle class with higher disposable incomes. As a result, more people in the region have the financial means to participate in online gambling activities. Additionally, the increasing internet penetration and access to affordable internet services have made online casinos more accessible to a larger segment of the population. In conclusion, the Online Casinos market in South America is growing due to the convenience and accessibility offered by online platforms, the increasing use of mobile devices for gambling, and the popularity of live dealer games. The relatively low penetration of land-based casinos in the region and the favorable macroeconomic conditions in South America also contribute to the development of the online casino market.

Data coverage:

The data encompasses B2C enterprises. Figures are based on Gross Gambling Revenue (GGR) and represent what consumers pay for these products and services. The user metrics show the number of customers who have made at least one online purchase within the past 12 months.

Modeling approach / Market size:

Market sizes are determined through a bottom-up approach, building on predefined factors for each market segment. As a basis for evaluating markets, we use annual financial reports of the market-leading companies, third-party studies, and reports, as well as survey results from our primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, GDP per capita, and internet connection speed. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing. The main drivers are internet users, the urban population, the usage of key players, and attitudes toward online services.

Additional notes:

The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. GCS data is reweighted for representativeness.

This report presents a comprehensive analysis and additional information on the Digital market, in a PDF format.

As an industry seemingly built on chance, the odds of the global casino sector growing in the coming years appear a safe bet. Thanks to the ongoing legalization of gambling-related activities in many parts of the world, licensed casinos have expanded to new markets and generated record-breaking revenue figures. While the market size of the casino and online gambling industry suffered heavily during the coronavirus (COVID-19) pandemic, falling by nearly 100 billion U.S. dollars in 2020, the recovery has been steady. As of 2024, the industry’s market size totaled over billion U.S. dollars. At the center of this growth has been leading casino companies such as MGM Resorts, which alone generated 16.16 billion U.S. dollars in revenue in 2023. Online enterprises specializing in sports betting have also carved out significant chunks of the market share, with Fanduel and DraftKings both ranking as two of the most valuable gambling brands globally in 2024.