In another analysis for GMB, 1win Partners evaluates another Latin American market. This time it's Chile, identified by the company as a profitable GEO and likely to grow significantly with the arrival of new regulations for iGaming. Although there are still challenges to be overcome, 1win Partners believes that the country is promising and can become one of the main ones in the region.
How to choose a profitable GEO for traffic arbitrage?
What factors should you consider to formulate a strategy and achieve good conversions in your advertising campaigns?
We continue to answer these questions and discuss one of the promising regions of iGaming: Latin America.
This time, we will focus on Chile, exploring the market specifics, audience characteristics, and the regulation of gambling and betting in the country.
The compilation of Latin America and updates on Argentina are now available.
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Profitable Area
Chile is a promising market. It features the highest bids for sports betting and e-commerce.
It is estimated that over 88% of the population has access to the internet, an impressive number when compared to other countries in the region.
Audience Characteristics
Most online players are between 25 and 44 years old, an age group that tends to be technologically adapted and financially stable.
The male audience is still predominant, especially in sports betting, but there is a growing increase in the number of women participating in online casino games.
It is estimated that 12% of the population is actively gambling in the country, with 30% of the population having played and signed up at an online casino.
Factors Driving Growth
In Chile, internet coverage is increasing, with mobile traffic increasingly surpassing desktop. This technological advancement makes iGaming platforms more accessible to a larger number of users.
International Companies: Global operators, like 1win Partners, are actively engaging in the Chilean market.
Growing Interest in Sports: Chileans are passionate football fans and are very enthusiastic about betting. Online betting is popular among residents of Chile.
Average Spending per Player
The average spending of a player is approximately 30,000 to 50,000 Chilean pesos (about US$ 35 to US$ 60) per month. Casual players may spend less, while more dedicated players may spend significantly higher amounts.
The bonuses from 1win Partners - such as free spins and betting credits - can also influence player behavior and encourage playing.
Legislation on iGaming in Chile
Currently, Chile does not have fully defined regulation for iGaming. International platforms operate in the country without major barriers, but the Chilean government is working to establish a regulatory framework for this growing sector. This legal gap has allowed foreign companies to dominate the market, as there is not yet a clear policy of licensing or taxation for online gambling operators.
In 2022, there were significant discussions in the Chilean Congress about creating a regulatory framework for iGaming. The main goal of these discussions is to establish clear rules for operators, ensuring safety for players and establishing mechanisms for collecting taxes on the sector.
Pillars of possible regulation:
Licensing of operators: Creation of a licensing system for iGaming platforms, allowing only licensed operators to offer services in Chile.
Taxes: Establishment of a taxation structure to collect resources from the iGaming sector.
Consumer Protection: Safety and user protection rules, including addiction prevention and self-exclusion mechanisms.
The expectation is that the regulation of iGaming in Chile may follow the example of countries like Colombia, which already has a regulated and legalized online gambling market, with clear rules and defined tax rates.
Technology and Future
Adopting new technologies is a clear example. For platforms, it is essential to use tools such as artificial intelligence, which helps to personalize the user experience to increase retention and customer satisfaction, especially in the Latin America region, where there is an audience with very specific tastes.
The use of cybersecurity and blockchain is crucial to ensure secure transactions and protect personal data, thus avoiding fraud and money laundering.
Offering different payment methods, including cryptocurrencies, attracts a younger and more technologically advanced audience.
Thus, as well as the world of virtual reality creates an immersive experience through virtual games where players can interact with a realistic 3D world. It is a great initiative that the Latin population is consuming more and more, for example, eSports, and it must be taken advantage of.
On the 1win platform, there is the option of payment in cryptocurrencies, card, and other models depending on the region.
Innovation and topicalization of services
Cultural adaptation allows interaction with users to adjust to the preferences of each region. It is important to understand the audience before entering a new market, they must feel that they belong to the brands they use frequently.
That is why 1win aims for personalized communication with support, which is available to solve any technical problem that arises. We want to convey trust to our customers and to have their loyalty, it is essential to offer a quality service.
Applying all these tools will result in a strategic position to lead and innovate in this industry within the Latin American territory.
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Conclusion
The iGaming market in Chile is on the rise, driven by an increasingly internet-connected population, interest in popular sports, and 1win Partners sees the country as a promising market. Although there are still challenges, especially regarding regulation, the future looks bright for the iGaming sector in Chile.
If regulation is well implemented, Chile could become one of the main iGaming markets in Latin America, offering a lucrative opportunity for operators and ensuring greater protection and safety for local players.
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Source: 1win Partners
