A new era for gambling in the Americas

There, we find is a contagious excitement in the air, confirming what we already suspected: there is a new era in the horizon, where gradually, but much faster than anyone expected, the region is opening the doors to the exceptional opportunities brought by this profitable industry.

Modern legislation

The American continent is relatively new to the spectacular rise of virtual sports betting and online and retail gambling. Mostly because, for many years, certain strict regulations have prevented different forms of gaming from being legal.

These restrictions have proved to cause more problems than benefits to players, governments, and society in general.

First, because they were not effective to stop the expansion of illegal gambling. The modern regulations that come with gaming legalisation, instead, are able to protect customers, since they ensure the transparency and safety of these activities. Legal suppliers and operators (both online and land-based) must comply with responsible gambling standards; providing a fair gaming experience, secure payment methods, and personal data protection, among many others requirements.

Also, legally recognising that these activities are an integral part of society allows countries to share the important amount of income they generate with the rest of the community: attracting new waves of tourists, generating numerous jobs, and collecting taxes that provide big sums to foster the country’s development.

Fortunately, more and more citizens and legislators have become aware of how much they needed to modernise their gambling laws according to what society needs, making a significant amount of progress in the area.

A positive trend

In the last years, we have been witnessing a general trend in the Americas towards the passing of several laws that open the markets to responsible suppliers and operators.

The case of the United States is the most emblematic. In May 2018, the Supreme Court stroke down the 25-year-old federal statute that did not allow states to legalise sports betting activities. Since then, more than 30 states have either introduced or passed their own legislation; while industry reports project that this activity in the US will reach at least $3.1bn in annual revenue by 2023.

In the region of Central America and the Caribbean, while some gambling activities are already legal and other laws are still in progress, experts confirm that governments and regulators are increasingly understanding that gambling and betting are an intrinsic part of life, and for that reason they need to formalise their markets, not to restrict them, but to accompany them in their growth.

Finally, in South America this trend is moving faster, to even a more positive direction. New gambling laws are being introduced and passed in several countries, offering exciting opportunities for the industry.

For example, after 75 years of prohibition, Brazil is finally getting closer than ever to legalise and properly regulate gambling and sports betting business. Argentina has historically been more open to the activity, and very recently the most important city and province in the country have both legalised online gambling, marking a turning point in the region.

Colombia has been at the forefront in the area, being the first Latin American country to legalise online gaming in 2016, and new regulatory changes are being introduced to enhance the benefits that gambling provides for the local community.

Peru is another country where effective legislation has made the industry thrive. The Peruvian gambling market is constantly growing, and the imminent regulation of online betting there allows experts to predict even more revenues.

Golden Race in the Americas

Golden Race has already been granted associate membership to the North American Association of State & Provincial Lotteries (NASPL) and has been included in the list of preferred vendors for BCLC (British Columbia Lottery Corporation) for the last one and one-half years. Our presence on Betting on Sports America is another step in the consolidation of our bonds with local clients.

Added to our extended success in Colombia and Peru, where we provide complete games and solutions for a great number of gambling retail stores, we are getting ready to capitalise all the positive changes that are taken place Latin America.

The popularity of on demand games and the increasing level of connectivity in the region, together with the immense benefits that our land-based and online platforms offer operators – such as our convenient servers for betting business, our dynamic solutions and our remarkable, personalised customer service – are the major elements that help us strengthen our presence in the area.

Until recently, Golden Race only had offices in Medellin, Colombia and Lima, Peru. A few months ago we have opened one in Sao Paolo, Brazil; with the projection of also operating in Argentina where we already have partners that will be getting a license there soon, with our help and collaboration.