Prospects For Sports Betting in Latin America
Betting has been around human civilization since ancient times. In the beginning, it was just a means for low-income citizens (that is to say, most of the population) to have a chance of chasing their dreams without having to spend money they didn’t have. Later, it evolved into illegal activity, with many clandestine gambling dens appearing around each country. As time passed, authorities began to see gambling not as illegal, but as a business opportunity. That’s how today’s modern gambling and sports betting came to be a recognized and regulated activity. Yet with the emergence of the internet, gambling and sports betting have taken a turn to the digital world, becoming more accessible and at the same time more regulated. Let’s take a look at what the present and future hold for online sports betting around the world, particularly in Latin America.
Dark Beginnings
Despite a dark history, Sport betting is now growing across the Latin American market. As in many other countries, gambling and betting has often been linked with darker shades of society, as it is no secret that the mafia has had hold both directly and indirectly over the business. Both as bookies and money lenders, the mob’s history with the gambling and betting business brought a bad reputation for it, particularly in the mid-1900s. In the case of Latin America, it hit home in a more direct way, as many known mafia lords such as the infamous Colombian drug lord Pablo Escobar had known ties with gambling businesses all over the country. Still, history has known how to heal the wounds of the past, and thanks to the amount of regulation that currently exists, gambling and sports betting are seen with better eyes.
The Internet Rises
One of the most important factors in the huge increase in the popularity of gambling all over the world is without a doubt the internet. The constant emergence of sites for betting online in recent years has brought a sudden and unparalleled rise in the profits from gambling businesses all over the world. Many of them are devoting resources to focus directly on expanding their digital features, offers, capabilities, and access. Though heavily regulated and outright banned in some countries, gambling and betting on sports online is slowly becoming the norm for many around the globe. One of the biggest factors that contribute to this sudden rise in popularity, is the number of different bonuses that online betting and gambling houses offer their patrons. Welcome bonuses, bonuses on first bets, or for low odds betting, and offering expert quality analysis for each team or player, is part of the high value packages offered online. It’s no wonder that most gamblers are migrating to the digital world.
Publicity Grabs the Headlines
Another huge factor in the future of gambling as a whole is the undeniable influence of publicity, both online and physical. In Latin America, many huge gambling and betting sites have held social gathering events to increase acceptance from the population, with quite promising results. Events at bars or even in shopping malls have increased and improved the general opinion of gambling sites, and the number of patrons. In the meantime, online ads and offers from big gambling and betting houses, along with the safety of transactions and innovative payment and withdrawal methods, have also had a huge direct impact on the profits and amount of bets they receive.
A Bright Future
With all we have previously discussed, we can see that the future for gambling and sports betting, both physical and digital, is riding a popularity wave that doesn’t seem to slow down anytime soon. The continuous innovations in technology and connectivity have brought to the world new and exciting possibilities. One of the most promising projects in the minds of the biggest gambling businesses is the creation and implementation of augmented reality casinos or AR casinos. With the increase in popularity that augmented reality apps and games have seen, AR seems like the next big hit in the gambling business. All in all, the future of gambling and sport betting businesses shines brighter than ever, so it is safe to say, gamble away, safely!