The Atlaslive team prepared a revealing article that provides an in-depth analysis of the online gaming market in Argentina.
Press release.- The igaming market in Argentina is a dynamic and rapidly evolving sector, shaped by cultural preferences, regulatory changes, and technological advancements. Soccer, a national obsession in Argentina, drives the predominance of sports betting, especially in soccer matches. Despite this, online casinos continue to set the pace for the entire market, consolidating themselves as key players in the industry.
Atlaslive, a B2B software development company for the igaming business, offers an overview of the igaming market in Argentina, based on recent data from Statista, exploring the current state, trends, and challenges of the market, while highlighting how the dynamic igaming platform of Atlaslive is perfectly adapted to leverage these opportunities.
The igaming market in Argentina has demonstrated a solid upward trajectory in revenue generation. The period between 2019 and 2020 showed a significant increase in revenue from USD300m to USD580m. This increase was largely catalyzed by the pandemic.
The Covid-19 pandemic significantly accelerated the adoption of igaming in Argentina, as physical casinos and betting shops were closed, pushing consumers towards online alternatives. It was precisely in 2020 that the category of online casinos emerged due to the pandemic, becoming the main revenue driver that year.
This shift has had a lasting impact, as many users continue to prefer online platforms even after restrictions were lifted. In the post-pandemic period, continuous growth has been observed, underscoring the resilience and long-term potential of the market. We see a strong growth trend across all categories, with online sports betting and online casinos showing the most substantial increases.
On the other hand, data suggest that while online lottery is growing steadily, online sports betting and online casinos are the main drivers of revenue growth in the online gambling market in Argentina for the period from 2017 to 2028.
In 2017 -2019, igaming revenues in Argentina were distributed between two categories: Online Lottery and online sports betting. Compared to 2018, the online lottery contributed 100 percent to revenue growth.
In 2020, online casinos entered the market and by the end of the year contributed more than 77 percent to revenue growth and began to gain increasing popularity in the Argentine market. It is expected that from 2026, the share of the contribution to revenue growth from online casinos will be more than 53 percent and will gradually increase in the following years.
Despite its impressive growth, the igaming market in Argentina is not expanding as quickly as it is in the South American region in general. This discrepancy indicates untapped opportunities that could be leveraged by adopting more proactive growth strategies.
The trends of the Average Revenue Per User (ARPU) highlight the changing dynamics within the market. Online sports betting is consistently increasing in ARPU, indicating its growing popularity and potential for sustainable growth. Online casinos are also on a positive growth path in terms of ARPU, although starting from a lower base. The ARPU of the online lottery reached its peak in 2018-2019 and then declined, indicating a possible market saturation or changes in user behavior.
The chart highlights that, while Argentina is experiencing steady growth in ARPU, it is not on par with the South American market in general, where ARPU is increasing more rapidly. Here we can see that not only are growth rates lagging, but the absolute figures are also 45 percent lower in 2024, something to pay attention to.
We observe that the percentage gap between Argentina's ARPU and the South American region has been widening since 2023. Revenue growth in Argentina has slowed down, particularly after 2022, indicating that the market may be approaching a saturation point and will soon require new strategies to stimulate both the market and player participation.
This suggests that while the Argentine market is improving, there are potentially untapped opportunities or strategies that could further increase user revenue, bringing them closer to the regional average.
Argentine consumers are increasingly turning to igaming due to its convenience, accessibility, and the wide variety of options available. The proliferation of smartphones and improved internet infrastructure have been fundamental in this shift, and mobile gaming emerges as a dominant force. This trend is in line with global developments, where consumers prefer the flexibility and accessibility on the move that mobile platforms offer.
Sports betting, especially soccer, continues to be a major draw for Argentine players. The cultural passion for soccer has made sports betting one of the most popular forms of igaming, and this segment continues to grow as more operators introduce sophisticated and attractive betting features.
See also: Atlaslive: why South America is the future of iGaming
From 2017 to 2023, the total number of unique players increased steadily each year. Starting with 2.25 million in 2017, the figure rose to 3.99 million in 2023. The most significant growth occurred between 2019 and 2021, where the percentage change in unique players exceeded 10 percent annually, reaching a peak of 11.83 percent in 2021.
From 2024, the growth rate began to decrease drastically, from 8.40 percent in 2024 to 3.18 percent in 2028. Although the absolute number of players continued to grow, reaching 5.13 million in 2028, the pace of growth slowed considerably. For example, between 2023 and 2024, the growth rate fell to 8.40 percent, followed by further declines in the following years. The steady decline in growth rates, especially the drop to 3.18 percent in 2028, suggests that the market may be approaching saturation, with fewer new and unique players being added each year.
The period from 2017 to 2021 was marked by strong and accelerated growth, indicating a phase of rapid market expansion. The subsequent decline in growth rates, particularly from 2024, points to a market in the process of maturation where the influx of new players is slowing down. Despite reaching more than 5 million unique players by 2028, the decreasing growth rate suggests challenges in maintaining high levels of growth.
To maintain or accelerate growth, it may be necessary to adjust strategies. This could involve exploring new markets, improving player retention strategies, or innovating product offerings to attract a broader audience.
At the same time, the igaming market in Argentina continues to expand, and the three categories experience positive growth in the number of players. Online casinos remain the most popular and have a significant and constantly growing player base.
Online sports betting is also on a strong upward trajectory, indicating growing interest and penetration in the market. The online lottery, although on a smaller scale, continues to attract players each year and shows steady growth. These trends suggest a healthy and expanding igaming market in Argentina across all categories.
The chart highlights the growing reach of the igaming categories in Argentina. Online casinos lead market penetration, followed by online sports betting, which is quickly catching up. The online lottery, although still the smallest category, demonstrates steady growth in penetration.
These trends suggest an increasingly broad adoption of igaming among the population, and all categories show positive dynamics over time.
The penetration rate in Argentina has shown steady growth from 2017 (5.12 percent) to 2028 (10.62 percent). The growth trajectory is smooth, with no drops, indicating a steady increase in market penetration over the years. During the period, Argentina's penetration rate more than doubled, suggesting a significant expansion of the igaming market within the country.
The penetration rate in South America as a whole has increased at the same pace as that of Argentina, but at a slower rate. Starting at 1.19 percent in 2017, it will reach 2.46 percent in 2028. Therefore, there remains a huge gap between Argentina and the South American market in general. In 2017, Argentina's penetration rate was approximately 4.3 times greater than that of South America (5.12 percent versus 1.19 percent); by 2028, this difference will remain the same, with a difference of more than 8 percentage points.
This significant outperformance suggests that Argentina could be seen as a leading market within South America, potentially offering more mature or lucrative opportunities compared to other countries in the region.
Companies operating in the igaming sector might consider concentrating more resources in Argentina to capitalize on its high penetration, while exploring strategies to boost engagement and penetration in the South American market in general, where there appears to be room for growth.
The igaming market in Argentina is poised for continued growth, driven by favorable consumer trends and technological advancements. However, to fully leverage these opportunities, operators must address the challenges of slower growth relative to the South American region in general.
Atlaslive aims to offer exceptional experiences and customized solutions that align with the specific demands of the markets in which it operates. The Atlaslive Platform stands out for its speed, scalability, and reliability. Atlaslive allows for quick modifications and customizations to meet the unique needs of any market.
By integrating elements of gamification and expanding the range of casino games and customizable betting options, Atlaslive creates new avenues for partners to attract a broader audience and improve retention rates. A standout feature that drives this innovation is Atlaslive Bet Builder, which allows users to create customized bets on multiple markets within a single event, significantly enhancing user engagement and satisfaction.
