In recent years, Mexico has witnessed a surge in online gambling activities, with revenues reaching more than $117 million in 2022. This figure is expected to continue growing at a compound annual growth rate (CAGR) of 20 percent over the next five years, according to a report in the local newspaper El Imparcial.
The online sports betting sector in Mexico is experiencing significant growth, driven by various factors such as the country’s young population, increasing internet access, the popularity of sports and government regulation.
Mexico’s rapidly expanding young population is increasingly connected to the internet and is helping drive sports betting. In 2022, the country had more than 100 million internet users, a number projected to rise to 120 million by 2027. This surge in internet access has created a fertile ground for the growth of online sports betting. With easy access to online platforms, Mexican bettors can now conveniently place their wagers on a wide range of sports events.
Sports have always held a special place in Mexican culture, and the popularity of sports continues to grow. Soccer, in particular, is deeply ingrained in the hearts of Mexicans, making it the most popular sport in the country. The passion for soccer fuels a strong sports betting culture, with Mexicans wagering more than $585 million on sports in 2022. This figure is expected to rise to more than $878 million by 2027, as detailed in El Imparcial‘s report.
The online sports betting market in Mexico is regulated by the government. In 2014, the sector was officially regulated, providing a legal framework for operators to offer their services. However, the industry continues to advocate for an update to the 1947 Federal Law on Gaming and Sweepstakes to address the evolving landscape of online gambling. The government’s role in regulation ensures a safer and more transparent betting environment for consumers.
The growth of online gambling in Mexico not only presents opportunities for betting operators, technology providers, and marketing service agencies but also an increase in sportsbook comparison platforms. These platforms cater to bettors who seek reliable, legal, and secure betting sites. The rise of these platforms highlights the demand for trustworthy information and services within the online sports betting ecosystem.
The potential of the Mexican online sports betting market cannot be understated. It has the capacity to become one of the largest markets in Latin America and generate thousands of new jobs. The growth of the sector stimulates economic activity, creating employment opportunities across various sectors, including technology, marketing, customer support, and more.
