As a member of the gambling industry, we have been closely monitoring the dynamics of major markets.
Recently, in the "Right to the Source" podcast by "iGaming Business", an in-depth analysis was conducted on the "grey areas" in three distinctly different markets: the United States, Latin America, and France, providing us with valuable industry insights.
USA: Sweepstakes Gambling Becomes an Alternative Powerhouse
In the United States, although sports betting is gradually being legalized, not all states have opened their markets, which has led to the proliferation of "sweepstakes" platforms that operate in legal grey areas. These platforms attract a large number of users, especially in states where gambling is still illegal, by offering free participation and virtual currency redemption to evade regulation.
For us operators, this trend not only captures potential market share but also builds another gaming habit at the user education level. If we do not adjust our market strategies in time, we will miss the opportunity to convert users after legalization.
Argentina and Mexico: Cold Thoughts in the Hotbed of Latin America
Latin America has always been a hot spot for the gambling industry, but the regulatory environment and market maturity vary greatly from country to country, warranting cautious entry. The biggest challenge in Argentina's gambling market is "fragmentation" - since each province has its own regulatory authority, operators must negotiate and set up separately, which multiplies operating costs and compliance pressures.
In contrast, although Mexico has a relatively unified regulatory system, local and international operators are already competing in droves, and the market saturation far exceeds our traditional understanding of "emerging markets." Here, brands without clear differentiation and strong local execution struggle to stand out.
France: Potential Under Regulatory Pressure
Surprisingly, France is also included in the discussion of "grey market competition." Under strict regulation and historical national monopolies, the French gambling market appears calm on the surface but is actually full of undercurrents. The rise of Betclic shows that with the right strategy, it is still possible to find a niche between old forces like PMU and FDJ.
For those of us looking to expand into the European market, France is a challenging but indispensable destination. High barriers mean fewer competitors, and with the right localization and smooth compliance processes, it is possible to secure a foothold.
Conclusion: Finding Certainty in the Cracks
The biggest revelation from this podcast is that the so-called "grey market" is both a source of risk and opportunity. From the flexible practices in the US, to the fragmented battlefields of Latin America, to the gaps behind France's regulatory iron wall, each region has its specific logic for survival. For us operators truly looking to strategize globally, the key is not to avoid challenges but to understand the structural opportunities behind them, to plan ahead, refine execution, and emerge victorious in the game.
As the program says: "Where regulation is uncertain, there often lies the frontline of growth."
