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Latin America : Watch this space State of play : Esports betting report 2021
LATIN AMERICA : WATCH THIS SPACE
THE ESPORTS market in Latin America may be dwarfed by North America , Europe and Asia , but it is by far the fastest-growing region in the global esports market today .
Analysts forecast the esports audience in Latin America is set to grow from 55 million at the end of 2020 to 70 million by 2022 . Juniper Research forecasts that there will be 130 million esports viewers in the region by 2025 . According to Esports Bar , brands such as Coca-Cola , Red Bull , Samsung and Mastercard are all now investing in the esports scene in Latin America .
When it comes to gaming revenue , Mexico is the largest market in Latin America , with the industry generating roughly $ 1.8bn . This is followed by Brazil with $ 1.6bn , then Argentina , Chile and Colombia . 8
However , Brazil is out in front in the esports space , with 18.5 million fans , made up of 10.7 million casual esports followers and 7.6 million esports enthusiasts . 9
As in Asia , mobile esports titles are beginning to gain steam in Latin America , led by the rollout of 5G technology , though the region is currently still dominated by console games . Mexico is seen as an opportunity for many PC game developers due to its increasing adoption of PC gaming .
STATE OF ESPORTS BETTING IN MEXICO
The general principle in
Mexico is that anyone can conduct any activity as long as it is not expressly prohibited or restricted . Fortunately , gambling is legal in Mexico and is subject to federal regulation . Article 2 of the gaming law defines gambling as any games involving wagers , including chess , dominoes , dice , bowling , billiards , ball games , racing , and , in general , all kinds of sports betting .
Esports betting is thus a permitted activity under this law and is seen as an activity garnering increasing interest from punters .
According to estimates disclosed by Eduardo Peláez , online products director at Strendus , the pandemic drove a 200 % increase in esports betting in Mexico . This tapered off after the resumption of traditional sports , though Peláez expects esports betting to rise by 20 % over the next five years .
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State of play : Esports betting report 2021