A Playtech investigation, however, showed that Chilean players bet less frequently than players from other countries in the region.
Chile.- Playtech recently launched the third edition of its e-book on the gaming industry in Latin America. The new edition of the report presents significant findings from a survey of 2,500 people from Argentina, Brazil, Chile, Peru, and Colombia.
In the case of Chile, the report revealed that 82 percent of Chilean players bet at least once a month and 53 percent at least once a week. However, compared to other Latin American countries, Chilean respondents bet less frequently. Seventy-seven percent of Chilean players spend up to CLP30,000 (USD32.30) per month, while 49 percent spend up to CLP10,000 (USD10.77). On the other hand, 8 percent declare spending more than CLP50,000 (USD53.84) per month.
The major concerns of Chilean respondents when deciding whether to use a platform are trust in the platform (62 percent) and data security (57 percent). When choosing an online betting platform, Chilean players prioritize security and reliability (54 percent), fast and reliable payment methods (53 percent), and the value of prizes/rewards (53 percent).
The levels of trust were much higher in national betting platforms (39 percent) than in foreign sites (6 percent) among players, former players, and potential players in Chile. More than half of the respondents (54 percent) believe that professional athletes should not be allowed to bet on sports games.
While 63 percent of players claim to feel safer knowing they are using a legal and registered platform, only 15 percent consider themselves to be aware of the legislation, while an additional 31 percent claim to have some knowledge.
For young people aged 18 to 34, the main reasons for choosing a platform are similar to those already mentioned. However, there are some aspects to highlight: reviews and recommendations from platform users (49 percent); fast and efficient customer service (43 percent); high-quality graphics and animations (25 percent).
According to Playtech's research, budget management plays an important role in the behavior of Chilean players: 46 percent set a limit before playing, although 24 percent admit to occasionally exceeding it. Players aged 35 to 44 are the least likely to stick to planned budgets (16 percent), compared to 46 percent of those over 55. When Chilean players win, 37 percent save their winnings, 32 percent use them to play again, and 31 percent use them to pay off debts.
Economic losses were the main reason for stopping gambling among 31 percent of former players, mentioned by 36 percent of men and 27 percent of women. Thirty-six percent of former female players mentioned high financial risks, compared to only 14 percent of men. Boredom was another highlighted reason, mentioned by 31 percent of respondents. Among those who have never gambled online, the fear of losing money or becoming addicted was mentioned by 42 percent of women and 32 percent of men.
Finally, the survey details the opinions of Chilean players regarding trust and security. A significant percentage of Chileans (65 percent) believe that online betting sites are unfair and designed to prevent people from winning. There is a strong distrust, as 73 percent believe that some sports games are rigged to benefit players. There is also concern for public safety and well-being, as 62 percent believe that betting companies do not prioritize these issues.
In Chile, 80 percent of respondents are in favor of stricter regulation of gambling advertising, and 77 percent believe that gambling companies should support people struggling with gambling addiction. A large majority (83 percent) are concerned about gambling advertising targeted at teenagers and children, while 86 percent believe that online betting sites should have stricter age verification policies.
About half of the respondents (46 percent) believe that gambling ads should clearly communicate the risks of gambling, while the same proportion (46 percent) thinks that regulatory frameworks should ensure that gambling ads comply with legal standards and only appear on legalized websites.
“Chileans have the least knowledge of these laws among all the surveyed countries, as nearly half (48 percent) claim to know nothing about gambling laws. Only 15 percent feel well informed about them, while 31 percent claim to have some knowledge,” concludes the Playtech report.
Mor Weizer, CEO of Playtech, highlighted the importance of the report: “We are very pleased to present the third edition of our report ‘Responsible Gaming: Consumer Insights and Trends in Latin America’. Since the launch of the first edition in 2020, our goal has been to provide a deeper analysis of the specific needs and challenges of the region as the sector evolves with new regulations.”
And he added: “This report offers valuable insights into the nuances of each Latin American market. Brazil and Peru present great opportunities for growth and innovation, and at Playtech, we are excited to play a key role as a technology partner, contributing to the sustainable development of the online entertainment sector. By sharing these insights and fostering knowledge exchange in the industry, we reaffirm our commitment to a more responsible and consumer-focused gaming environment”.
In Chile, the government is working to pass a regulatory framework in Congress, following a Supreme Court decision in 2023 that ordered internet service providers to block access to more than twenty online sports betting sites, and the ban, in 2023, of online gambling sponsorships.
Meanwhile, many platforms continue to operate internationally, offering online gambling in Chile without regulation. The Chilean government seeks to urgently regulate these platforms, citing concerns for consumer protection and loss of tax revenue.
