Mexico: The New Destination for Online Gambling Companies
The online gambling platform has had a boom in the last couple of years gaining a large following in many countries around the world. Given the massive influence it has had on people, various countries have stepped in to establish iGaming regulations and legalization frameworks to regulate the market. This is because the need for gambling and online gaming continues to increase every single day.
Online Casino Gambling in Mexico
While countries in Europe, The United States, and Australia among others have made significant progress in ensuring strong regulatory frameworks governing online gaming and gambling some countries, particularly in the Latin American region, have not established such frameworks yet. Mexico is one of such countries.
Of course, there are many major iGaming and online gambling companies that have set camp in the country. They are operational, but they do so in a gray area as with the lack of the regulations, online gambling is illegal and prohibited in the country.
The good news is that Mexican legislators may change the situation soon as they are have been working towards establishing regulatory networks for this booming online business. And given that various major iGaming companies that have already set camp in Mexico, the prospects are very high.
iGaming Companies in Mexico
If and when the frameworks will be established and rolled into motion, Mexico will be a very attractive destination for iGaming companies. According to the president of Mexico’s gambling regulator, AIEJA, the country’s online market can be quite lucrative and generate the country millions of dollars in revenue. He even acknowledged the presence gambling products already in the country and establishing a regulatory framework will only create a safe environment for gaming and even better the industry in the country.
One may wonder, Why Mexico? Well, looking at what analysts are saying, Mexico proves to be the perfect base of international iGaming companies to establish their offices. The country has a winning number of persons who speak English, the labor force is quite cheap, and the business environment proves to be quite friendly – all the reasons any gambling company would consider when capturing the market.
In as much as the steps towards establishing these frameworks began several years back, the proposed bill that was to provide regulatory measures to both online gambling companies and land-based gambling companies has had to face various hurdles that have seen its implementation delayed. The president of AIEJA has called for the lawmakers to be swift with the bill pointing out the benefits it would offer the country in revenue. Without the frameworks, it means that gambling companies get all the revenue without being taxed which, in turn, affects the country’s economy negatively.
While one might think that online gambling companies and iGaming companies will lay back until these regulatory frameworks have been established, various online gambling companies already have their foundations in place. Some of the most prominent companies include the Spanish Codere whose products will mainly be from the Swedish online gaming developer, NetEnt. Others include Kambi, BetConstruct, and Merkur Gaming.
The hope placed on the Mexican legislators with regards to this bill is very high. With the market being thirsty for online gambling and the gambling providers ready to roll the wheels, all eyes now lay on the legislators to ensure that the necessary regulations get implemented.