Latin America and Internet Bingo

The online bingo industry is constantly searching for new markets to enter. In the UK which is the world’s largest bingo market there are over 400 bingo sites targeting the UK and many experts say that the UK market is saturated. Latin America may be the new hot market for bingo sites. Bingo is well established in Latin America and electronic bingo is the most popular game at most Latin American casinos. 90 ball bingo is already a popular game throughout Central America, South America and Mexico. There are also US style 75 ball bingo games. Observers say that bingo games in these countries are very high energy and animated games.

In most Latin American countries gambling has traditionally been linked to the tourism industry. Latin America is home to about 569 million people who spend a large portion of their income on gambling. Some experts believe that if all legal and illegal gambling were combined the area would generate $150 billion dollars a year. Many bingo sites are licensed in Costa Rica which has a thriving online gambling industry. Costa Rica, Brazil, Mexico, Argentina, Chile, Colombia, Peru and Venezuela are the most prolific countries for gambling and popular games include slot machines, casinos, horse-racing, lotteries, bingo and Internet gaming.

Recent years have seen a widespread increase in broadband access and increased computer ownership. This makes Latin American perfect for bingo sites and other internet gambling providers. Even better, most of these countries (with the exception of Venezuela) encourage foreign investment. In most Latin American countries foreign investors receive equal treatment with residents and in some countries foreign investors are given special treatment. Latin American countries are also well on their way to recovering from the global recession and in 2010 the region benefitted from 4% growth. Most economists expect economic growth to continue in Latin America.

Mobile penetration in Latin America has been extensive. In 2009 mobile phone use was well above the world average at 80% and over 469 million people are using mobile phones. This could easily create a burgeoning market for bingo sites offering mobile bingo. In Europe language barriers have been easily overcome by the bingo industry and games in Spanish and Portuguese could easily be provided to Latin American players.  Credit card use is extensive in Latin American making it easy for bingo players to establish accounts. Latin America could easily be the next hot market for bingo sites.

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