Costa Rica Named Third Largest Online Casino Market in Latin America
Posted: March 21, 2011
Updated: October 4, 2017
Latest report by The Research and Markets on Latin American online gambling puts Costa Rica among most important countries in the region
Apart from boasting spectacular views and comfortable resorts, Costa Rica hosts over five hundred online gaming operators. Providers of internet gambling in Costa Rica contribute $14.5 billion every year to the local economy thereby creating the third biggest casino market in Latin America.
The chief reason that the country hosts so many gambling software companies and online casino operators is the absence of any prohibitive Costa Rican gambling laws. Costa Rica only awards one type of business license regardless if the business is casinos, an apple farm or a toothbrush manufacturer. This fast and simple approach to revenue collection facilitated the growth of the local economy as well as the online casino industry.
According to the latest report released by The Research and Markets organization (R&M), “Costa Rica Gaming and Gambling 2011”, an average Costa Rican resident spends about $250 on gambling activities annually. The three leading Latin American countries ranked according to revenues generated from gambling are: (1) Brazil, (2) Mexico and (3) Costa Rica.
Spokesman for R&M outlined the most important figures from the report, saying, “It is believed that if both the legal and illegal gaming activities were combined in Central and South America, it is likely that the region would generate over $150 billion a year.”
It’s only natural, that leading foreign gaming operators, including online sportsbooks, are seeking partners in the region to successfully establish a presence. Offsidegaming, a software provider, recently announced a deal with Tristar International which enabled the online casino software provider to quickly enter the local gaming market.
The software provider will provide customer service and back office operations along with a full range of gaming products. The new deal will combine Tristar’s outstanding local internet marketing experience with Offsidegaming’s software and player acquisition strategies.