The future of igaming in Latin America by 2025, insights from Dmitry Starostenkov, CEO of EvenBet Gaming
In the following article, Dmitry Starostenkov, CEO of EvenBet Gaming, shares his thoughts about what the future holds for the igaming market in the dynamic LatAm region.
Opinion.- With 2025 on the horizon, the igaming market in Latin America is poised for significant transformation. Numerous questions surrounding regulatory frameworks and market competition arise, prompting us to seek expert insights from Dmitry Starostenkov, CEO of EvenBet Gaming, about what the future holds for this dynamic region.
Regulatory landscape: a mixed bag
One of the foremost concerns for the igaming industry in Latin America is the regulatory environment. Key questions revolve around the types of advertising that will be permitted and whether further restrictions on betting will be implemented. A case in point for EvenBet is the Brazilian market, where poker remains unregulated. Brazil’s population exceeds 210 million, and the country is home to a significant and enthusiastic poker community, with events like the Brazilian Series of Poker (BSOP) attracting thousands of participants each year. Yet, the absence of regulation could hinder opportunities for licensed operators, resulting in a missed chance to create safe and competitive environments for players. Dmitry Starostenkov expresses hope that common sense will guide regulatory bodies towards a more favourable approach for poker, which continues to thrive within the country.
Marketing warfare: competing budgets
Forecasts for the igaming market in Latin America indicate that by 2025 there will be high competition for marketing budgets. The regulated online gambling market in this region is expected to grow more than fivefold, reaching $12.bn by 2028. In 2024, this figure was only $2.5bn. Such rapid expansion means that marketing is crucial for gaining market share. According to Dmitry Starostenkov, market leaders will emerge based on one of two strategies: either by leveraging large budgets to outspend competitors or by focusing on efficient player acquisition strategies. Niche marketing solutions—such as services tailored for high-stakes players or using influencer marketing for acquisition — will be vital. Countries like Colombia, which has seen a significant increase in licensed operators following the implementation of regulations in 2016, provide solid examples for emerging markets. EvenBet Gaming aims to adopt this latter approach, emphasising innovative and cost-effective strategies over sheer expenditure.
The importance of localisation
Localisation will play a crucial role in determining success in the Latin American market. Dmitry Starostenkov emphasises that language is just one aspect of this complex environment. Spanish, for example, varies significantly across different regions, with notable dialectical differences between countries like Mexico, Argentina, and Chile. Understanding these nuances is essential to avoid marketing misfires. Additionally, local customs and cultural practices should be carefully considered, as Latin America is not a homogeneous market. For example, Argentinians have a robust poker culture, while Brazil favours sports betting. Furthermore, Brazil’s growing enthusiasm for esports presents another opportunity for differentiation, as this market attracts a younger demographic that avidly consumes digital content. As a result, operators must adapt their services and marketing strategies to cater to these diverse preferences.
Mobile dominance in a changing environment
Mobile devices continue to dominate the user experience in Latin America, with studies indicating that over 75 per cent of internet traffic in the region is generated via mobile devices. Most players access igaming platforms primarily through smartphones rather than desktop computers. Dmitry Starostenkov notes that this trend is characteristic of several developing markets, including Africa and Asia. In contrast, Argentina presents an intriguing exception, where many players still engage through desktops, reflecting a more advanced technological setting compared to other countries in the region. The rise of 5G technology and increased smartphone penetration are likely to enhance mobile gaming experiences, making it even more critical for operators to optimise their platforms for mobile users.
Catering to VIP and professional players
In the Latin American market, there exists a significant demographic of VIP and professional players, particularly in countries like Argentina and Brazil. According to industry reports, the number of online gambling users in Brazil alone is expected to surpass 10 million in 2025. These players often prefer desktop gaming, especially for multi-tabling—playing multiple tables simultaneously. This preference highlights the necessity for online platforms to offer robust desktop experiences in addition to mobile-friendly options. Dmitry Starostenkov underscores the importance of recognising that while mobile gaming is prevalent, it is crucial to understand the diverse preferences of different player segments. Enhancing features such as user interfaces, game variety, and customer support will be paramount in attracting and retaining high-value players.
Emerging trends and opportunities
Beyond established markets like Colombia and Argentina, and the phenomenally growing Brazil, other countries in Latin America are rapidly emerging as hotspots for igaming. For instance, Chile and Peru are experiencing a rise in interest in various gaming options, including online casinos and sports betting.
