By the end of 2024, Mexico's population will exceed 132 million, making it the 10th most populous country in the world and the most populous Spanish-speaking country. It is also the second largest economy in Latin America. In 2024, the official annual GDP per capita in Mexico was announced to be 14,000 USD (equivalent to 100,000 RMB).
Mexico is a federal country, comprising 32 states, with the most populous state being the State of Mexico, where the capital Mexico City is located. It borders the southern region of the United States and geographically belongs to North America.
Population Base of Mexico
The median age of the Mexican population is 30.25 years, indicating a significant young population hoping to change their fortunes through sudden wealth, representing a strong potential consumer group.
Market research company Comscore released the "Latin America Market Report" in 2024, pointing out that 93.1% of the Mexican population uses social media, ranking second in Latin America after Brazil. Compared to the Brazilian market, users in the Mexican market spend more time per visit.
There is a significant difference in the age distribution of social media users, with those over 35 using social media more extensively, such as Facebook, Instagram, YouTube, Tiktok, and X having the highest user ratios. Mexican Gen Z users prefer exploring the world on Twitch, nearly twice the usage rate of other platforms, with a 45.2% usage rate higher than their Brazilian counterparts of the same age group.
Young people enjoy electronic sports, and live streaming and community engagement have become mainstream. Twitch's KOLs are also the strongest "influencers" among the youth.
Mexican Gambling Market
Mexico's gambling laws first appeared in 1947, prohibiting a range of games of chance. In 2004, they relaxed the restrictions on online gambling, and many operators entered the market through partnerships with local gaming companies. Twenty years later, Mexico still lacks a clear online gambling law. The market lacks transparency and clear regulation, and its development is relatively slow.
As the official sponsor of the Liga MX, the largest gambling company Caliente Sports monopolizes over 80% of the traffic in the Mexican gambling market.
Playdoit, Spanish company Codere, betmexico, Bet365, Team México, and Tulotero share the second tier of traffic in the Mexican market.
These companies have obtained official entry licenses in the Mexican market and have local domain names with the MX suffix.
Caliente Sports
A licensed brand, Caliente means "hot" in Spanish, and the brand rights of Caliente Sports belong to the parent company Grupo Galiente.
Grupo Galiente is a 100% Mexican-owned enterprise with nearly a century of history in the entertainment and gambling industries, originating from the first racetrack established in Tijuana in 1916—the later Agua Caliente Racetrack.
The company initially focused on horse racing and sports betting, gradually expanding to multiple states in Mexico and countries in Central and South America. Today, Caliente offers a variety of entertainment services, including Mexico's largest network of electronic gaming terminals, the only greyhound track, and the newly built Tijuana football stadium.
In 1998, the company partnered with Spain's Codere Group to introduce traditional bingo games and promote electronic gaming machines, further consolidating its position in the Mexican market. Currently, the Agua Caliente Racetrack has over 900 state-of-the-art electronic gaming machines, making it one of the best gambling venues in Mexico.
Grupo Galiente also owns Caliente TV, a streaming media in Mexico, which holds exclusive broadcasting rights for major matches such as the UEFA Champions League and La Liga in the Mexican market. Their group's industrial layout has a profound impact in Mexico.
Paydoit.MX
Paydoit claims to be the first licensed online gambling brand operating in Mexico, focusing on the Mexican market. The website is intuitive and accessible to non-Mexican IPs. The operating philosophy is quite pro-American, with Survivor pool-type competitions during the football and NFL seasons.
Codere.MX
Headquartered in Spain, this company operates licensed online and physical casinos in Latin America, including Mexico, Argentina, Colombia, and Panama.
Codere's online business in Mexico is part of Codere Online, the internet division of the Codere Group. The company is listed on NASDAQ (stock code CDRO).
Bet365.MX
The largest and most well-known global sports betting brand operates its sub-brand in Mexico, starting operations in 2019, regulated by the Gambling and Lottery Bureau under the Mexican Ministry of the Interior (SEGOB). It offers extensive streaming media live coverage to enhance the betting experience for users.
TeamMéxico.mx
A new brand launched in 2020, based on public corporate information on LinkedIn, headquartered in Zapopan, Jalisco, Mexico. Focused on the Mexican sports betting market, it emphasizes ease of access, with over 100,000 mobile app downloads. It values interaction with local users on social media platforms, and the operators are knowledgeable and down-to-earth.
betmexico.MX
A new gambling brand launched in 2021, focused on Mexico's mobile market, does not allow non-Mexican IPs to access the site. In terms of user experience, the casino app (slots) is superior to the sports betting app (limited options). It does not offer streaming media live broadcasts, but new users can receive a 50-peso no-deposit bonus.
Overall, the Mexican gambling market is composed of local large entertainment brands (Caliente and Paydoit), foreign company sub-brands (Bet365 and Codere), and emerging local internet small and micro-enterprises (TeamMéxico, betmexico). These three forces form a tripartite situation in the licensed market in Mexico.
On the other hand, Mexico does not have strict and clear legislation, and most unlicensed offshore brands are allowed to register Mexican users, but it is difficult to obtain large-scale direct traffic support. For offshore brands, obtaining Mexican young users' favor through Twitch live streaming KOLs is a possible option, so cryptocurrency websites like Stakes have some survival space in Mexico. For young people, Mexico has a gambling tax, and the returns from offshore websites may seem more substantial.
Social Media Marketing Campaign
Mexican market brands have high social media coverage. To better serve Mexican customers, local gambling operators have created social media account matrices to promote their businesses.
Caliente MX has social accounts on Facebook, Instagram, YouTube, Tiktok, and X. Their promotional content focuses on football, with bold images, making it the most commonly used football betting website among Mexican users.
From the NBA to baseball, they have achieved full coverage of North American events on social media. Playdoit's customer base is more interested in American sports, and their social media account matrix consists of Facebook, Instagram, X, YouTube, and Pinterest.
Playdoit's Adapted and Fictional Video Content
YouTube's most-watched video, with over 10 million views, is an adapted short film based on Mexican boxer Canelo Alvarez wearing the company's logo baseball cap during a podcast with famous influencer Roberto Martinez, creating a responsible gambling image and promoting the website.
Codere's social media account matrix consists of Facebook, Instagram, YouTube, and X, mainly promoting football content. They sponsored a YouTube channel with over 100,000 subscribers focusing on Mexican football, called Apuntes de Rabona (Rabona, meaning "trick kick" in Spanish, the program could be called "Football Summary").
TeamMéxico.MX is quite active on X, supporting viral fight and boxing video content creators Viralfightmx, and producing video content and event analysis on their personal Instagram, YouTube, and Twitch channels.
Below are the statistics of followers of Mexican gambling market brands on mainstream social media platforms. Betmexico seems to have given up on most social media platforms for promotion.
X Instagram YouTube
Caliente.mx 279K 740K 238K
Playdoit.mx 91.4K 57K 8.66K
codere.mx 37.8K 39K 4.46K
Teammexico 30K
betmexico 2.2K 16K 5.5K
Localized Services
Any regional market operation cannot do without localized services. Spanish-language website pages and customer service aim to make it as accessible as possible for more Spanish-speaking customers. The odds expression for Mexican users is in American odds, consistent with North American habits. Convenient Mexican peso deposit and withdrawal services are provided, requiring good cooperation with local financial institutions.
User Preferences
Football is the favorite sport of Mexicans, and the football culture of the Spanish-speaking world is deeply rooted in Mexican blood. Influenced by the export of American sports culture, traditional American sports such as basketball, baseball, and American football are also very popular among Mexicans. Additionally, streaming media with strong visual appeal, such as boxing, fighting, and electronic sports, are very popular among the youth.
Currency Settlement
Betting is conducted in US dollars or Mexican pesos, with common payment methods including OXXO, Todito Cash, Astropay Card, Visa, MasterCard, Paysafecard, Neteller, EcoPayz, and bank transfers (SPEI).
Mexico's cryptocurrency C2C market is also quite active, facilitating currency settlements for unlicensed offshore companies.
Gambling Tax
Finally, it must be mentioned that gambling income in Mexico is taxable. The federal tax rate in Mexico is 1%, and state taxes generally range from 4% to 6%. Licensed operators help users pay this fee.
Conclusion
Mexico has a considerable potential entertainment consumer population, with a large group passionate about football. Ambiguous regulations pose certain risks for those specifically investing in the Mexican market.
Localized services and exploring user preferences are respects to the specialized market customers, and stable and fast currency settlements provide better security for customer funds. Social media operations are an important part of localized services; how to explore, guide, and cultivate customer preferences is a real test for those looking to enter the Mexican market.
