Ecuador’s Sports Betting Industry on the Rise
In Ecuador, there has been a significant increase in sports betting companies registering in the first half of 2024. This surge comes after changes to the country’s gambling tax framework, which now enforces a 15 percent gross revenue tax on sports betting operators. Additionally, players are now subject to a 15 percent withholding tax. Despite land-based gambling being prohibited in Ecuador since 2011, there is no specific ban on sports betting. The Internal Revenue Service (SRI) reported that 65 sports betting companies had registered in the first half of the year, showing a growing interest in the industry.
Financial Issues Linked to Gambling in Brazil
A recent survey conducted in Brazil by market specialist Hibou revealed that 10 percent of the Brazilian population has experienced financial problems due to gambling. With approximately 68 percent of Brazilians reported to gamble, the study found that 16 percent of respondents had faced financial issues as a result. This statistic raises concerns, especially with the upcoming launch of the legal betting market in Brazil on Jan. 1, 2025. The survey also highlighted that more than half of bettors had spent more money than they had won, indicating potential challenges in responsible gambling.
Partnership Extension in Latin America
Kambi and Rush Street Interactive have agreed on a multi-year extension to continue their partnership. Since 2018, Rush Street Interactive has been utilizing Kambi’s sportsbook platform in various Latin American markets, including Colombia, Mexico, and Peru. This partnership aims to enhance the sports betting experience for users in the region and expand Rush Street Interactive’s presence in the LatAm market. The collaboration reflects a commitment to providing innovative and engaging sports betting services to customers across Latin America.
Colombia’s Lotteries Contribute to Health Sector Growth
Coljuegos, the gambling regulator in Colombia, reported a significant increase in health transfers from lotteries in the country. Approximately COP144 billion ($34.9 million) has been transferred to the health sector in 2024, marking a 25 percent increase compared to the same period in 2023. This demonstrates the positive impact of the gambling sector on the health care system in Colombia. With continuous growth expected throughout the year, Coljuegos aims to surpass the goal of COP470 million in resources transferred by territorial games, benefiting departments and municipalities across the country.
49ers’ Expansion in Mexico’s Betting Market
The NFL’s San Francisco 49ers have announced a new partnership with Mexican casino brand Foliatti Casino, marking the first international legalized sports betting deal in the league’s history. This collaboration will offer exclusive experiences for 49ers fans in Mexico and present various events to engage the local audience. Foliatti Casino will leverage the 49ers marks to promote its sports betting business in Mexico, enhancing its presence in the market. The partnership signifies a commitment to sports and entertainment, aiming to provide memorable experiences for users and passionate 49ers fans in Mexico.
