Lawmakers and gaming regulators in emerging markets need to understand consumers if they want their legal gambling ecosystems to flourish and provide the economic benefits they expect. A recent survey showed that Argentina is the Latin American country where it matters least whether betting sites are legal. This revelation will have an impact on the regulated market.
Online gaming software giant Playtech recently conducted a study that explores the concerns and interests of the public and provides an expert view on responsible gaming in the LatAm region. Only 29% of respondents indicated that an operator’s regulatory status is a factor they take into account when deciding whether to use that site.
This contrasts with Brazil, where 71% of respondents believe the government should regulate the betting market. In Colombia, more than half of the respondents consider a site’s legal status before using an online platform.
Argentine Players Just Want to Play
Argentina set the trend in terms of the lack of protection reflected by players in Latin America. The survey found that 84% of Argentines never received a warning about their level of play and the possible problems that arise from it. The figure is the highest in all of the region and contrasts with Brazil, for example, where 52% of respondents said they had been alerted about their gambling behavior.
In Argentina, 37% of respondents said they respect the alert messaging method because they know it works to their advantage, 27% like and feel safe with the messages and 11% want to know more about their own gambling behavior.
14% revealed feeling irritated by the messages. However, they don’t see them as something that affects the gaming experience. 10% said they don’t like being constantly reminded and would like to get rid of the messages completely.
The lack of attention to an online gaming platform’s status doesn’t mean that Argentines don’t care about the state of affairs. Earlier this year, another survey found that over 60% of the respondents believe that the gaming ecosystem needs improvements. They also acknowledged that the government needs to develop clearer guidelines to reduce potential gambling harm.
Some of the improvements are already underway. Mario Trucco, the executive director of the Association of State Lotteries, said recently that it and the members of the 24 Argentine state lotteries have established an initial framework for a more cohesive and transparent gaming industry.
Online gambling is advancing at an accelerated pace in Argentina. It currently leads in terms of online applications and games in relation to the number of users and downloads made. However, there’s a chance that this could change as Brazil’s gaming market continues to develop.
Argentine Gaming Continues to Grow
The rising trend of iGaming sites worldwide has sparked a significant surge in the demand for online gaming opportunities throughout South America. This rapid growth can be attributed to a multitude of factors, including the availability of high-speed Internet access, the widespread use of mobile devices and the Latin American fascination with sports. In addition to organizational shifts, these elements have all played a vital role in driving the remarkable expansion of online gaming in the region.
With a population nearing 45 million, Argentina secures its position as the fourth most populous country in Latin America. Despite recent financial upheavals, it still has one of the strongest economies in the region.
Argentina is a significant hub for online gaming. Each of the country’s 23 provinces, as well as the autonomous city of Buenos Aires, has the ability to establish its own iGaming market. So far, 14 have legalized online sports betting and almost as many have adopted online casino legislation.
Operators in the game industry are restricted to offering their services exclusively to residents within the designated regions. The online gaming sector of Argentina is projected to yield US$2.4 billion each year in revenue.
A recent directive from the government ramped up the federal tax rate on online gaming activities to 5%. Furthermore, regions like Buenos Aires impose taxes on individuals earning income from gaming pursuits as well.
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