South America Online Sports Betting Market Research Report By Sports Type (Football, Horse Racing/ Riding, Car Racing, Cricket, Hockey, Boxing, Baseball, Basketball, Tennis), By Type (Line-in-Play, Fixed Odds Betting, Exchange Betting, Daily Fantasy, Spread Betting, E-Sports, Others), By Application (Web-Based, Mobile-Based), By Web-Based (Windows, Mac), By Mobile-Based (iOS, Android) and By Regional (Brazil, Mexico, Argentina, Rest of South America)- Forecast to 2035

South America Online Sports Betting Market Overview

As per MRFR analysis, the South America Online Sports Betting Market Size was estimated at 2.85 (USD Billion) in 2023. The South America Online Sports Betting Market Industry is expected to grow from 3.5(USD Billion) in 2024 to 13.4 (USD Billion) by 2035. The South America Online Sports Betting Market CAGR (growth rate) is expected to be around 12.98% during the forecast period (2025 - 2035)

Key South America Online Sports Betting Market Trends Highlighted

Significant growth in the South American online sports betting market is being driven by a variety of factors, such as the growing prevalence of smartphones and internet penetration in the region. Brazil and Argentina have recently made significant progress in the legalization and regulation of sports wagering, thereby establishing a more structured and secure environment for both operators and consumers. This action not only increases government revenue by means of taxation but also promotes responsible wagering practices. 

Furthermore, the proliferation of digital payment options, including e-wallets and cryptocurrencies, has facilitated and secured transactions for users, thereby increasing their engagement in online wagering activities. There are numerous opportunities for exploration in the South American online sports betting market. The popularity of local sports events and leagues, particularly football, offers an indispensable opportunity for betting platforms to attract consumers. New entrants can leverage partnerships with local sports teams and influencers to enhance their market presence and brand recognition. 

Additionally, the region's expanding youth population offers a distinctive opportunity for marketing strategies that are innovative and alluring to younger audiences, such as user-friendly platforms and engaging content. Live betting has become increasingly popular among South American bettors in recent years, substantially altering the way in which consumers interact with sports.Additionally, operators are emphasizing the enhancement of the user experience by implementing enhanced mobile applications and website interfaces. 

There is also an increase in the demand for social features, which enable bettors to interact and share their experiences. These trends demonstrate a transition to a more interactive and dynamic online betting environment in South America, which has attracted a broader audience that is anxious for real-time engagement with their preferred sports.

Source: Primary Research, Secondary Research, MRFR Database, and Analyst Review

South America Online Sports Betting Market Drivers

Increasing Internet Penetration and Smartphone Usage

The South America Online Sports Betting Market is heavily influenced by the surge in internet penetration and smartphone usage across the region. According to recent data from the International Telecommunication Union, South America has achieved an internet penetration rate of approximately 70%, with countries like Argentina and Brazil leading the charge with rates above 80%. This increase in connectivity allows more individuals to access online sports betting platforms easily.

Furthermore, a report from the Latin America Mobile Association indicated that mobile subscriptions in the region reached over 450 million, showcasing the growing reliance on mobile devices for various everyday tasks, including betting. As more consumers use their smartphones to place bets, the South America Online Sports Betting Market is poised for significant growth, providing a larger customer base and driving revenue for betting companies in this region.

Regulatory Changes Favoring Online Betting

Regulatory changes in South America have led to a more favorable environment for online sports betting. Countries like Colombia and Brazil have enacted laws that legitimize and regulate online gambling, attracting both local and international operators. For instance, Colombia has established a licensing system that increased tax revenue from online betting by 35% in just two years since its legalization. 

The Brazilian government is also in the process of finalizing a regulatory framework, which analysts predict could boost the market size significantly.These changes are pivotal in creating a transparent and secure betting environment, encouraging more participants in the South America Online Sports Betting Market Industry.

Growing Popularity of Sports and Events

The growing passion for sports, particularly football, in South America has significantly contributed to the expansion of the South America Online Sports Betting Market. FIFA's report noted that more than 40% of the population in Brazil identifies as lifelong football fans. Major events such as the Copa America and various national leagues attract millions of viewers, thereby enhancing the betting interest among sports enthusiasts. 

Additionally, with the increasing availability of data and analytics regarding sports performances, bettors are becoming more sophisticated, allowing for more informed betting choices.The South America Online Sports Betting Market is leveraging this frenzy, as sports-centric platforms attract users looking to engage with their favorite teams and players through betting.

Emerging Payment Solutions Tailored for Betting

Innovative payment solutions like e-wallets, cryptocurrencies, and mobile payment applications are transforming the landscape of the South America Online Sports Betting Market Industry. Platforms such as Mercado Pago and PayU have seen growth in users by approximately 50% in the last year, driven by the rising demand for secure and fast transactions in online betting.

Furthermore, the adoption of cryptocurrencies provides an anonymous and efficient method for transactions, appealing to a tech-savvy audience.As these advancements enable smoother payment options for bettors, the overall user experience improves, leading to increased participation in online sports betting within South America.

South America Online Sports Betting Market Segment Insights

Online Sports Betting Market Sports Type Insights

The South America Online Sports Betting Market is experiencing significant growth, driven by the diverse preferences of sports enthusiasts in the region. Among the various sports types, Football continues to be a dominant force within the online betting landscape, illustrating the nation's passion for this sport, which is deeply ingrained in its cultural fabric. The popularity of Football is propelled by major tournaments and leagues that boost fan engagement and consequently betting activities. 

Horse Racing and Riding also capture a substantial portion of the market, with a long-standing tradition and widespread local interest, contributing to a vibrant betting environment.Car Racing, while not as prominent as Football, has a dedicated following, especially with events like Formula 1, which draw massive audiences and betting participation. Cricket, though traditionally stronger in other regions, is gaining traction thanks to increasing exposure and interest among South American audiences. Sports such as Hockey, although niche, offer specialized betting opportunities, appealing to fervent followers of the sport. 

Boxing and Baseball continue to uphold their significance, generating consistent betting volumes, while Basketball is on the rise, especially with influences from international leagues.This varied segmentation highlights the fishing net of opportunities in the South America Online Sports Betting Market, catering to diverse preferences while enhancing market growth. The dynamic nature of these sports signifies a competitive landscape where engagement and participation are continually evolving, driven by trends in technology and changing consumer behavior.

Source: Primary Research, Secondary Research, MRFR Database, and Analyst Review

Online Sports Betting Market Type Insights

The South America Online Sports Betting Market exhibits diverse and intricate dynamics segmented by Type. Among these, Line-in-Play betting has gained remarkable traction, allowing bettors to place wagers in real-time, responding to unfolding events, which enhances engagement and adrenaline. Fixed Odds Betting remains a staple, as its simplicity attracts both novices and seasoned bettors due to its transparency in payout structures. Exchange Betting introduces a unique social aspect, facilitating peer-to-peer betting and often resulting in competitive odds.

Daily Fantasy Sports have surged in popularity, driven by local sports enthusiasm and the increasing integration of mobile technology, fostering a vibrant community. Spread Betting offers a more complex betting experience that provides opportunities for higher returns, appealing to advanced gamblers looking for an exhilarating challenge. E-Sports has emerged as a significant area, resonating with younger demographics and leveraging growing interest in competitive gaming. Collectively, these segments demonstrate the diverse needs and preferences of the South American gambling audience, which is influenced by local culture, sporting trends, and advancing technology, contributing to the overall evolution of the South America Online Sports Betting Market.

Online Sports Betting Market Application Insights

The Application segment of the South America Online Sports Betting Market plays a crucial role in the overall industry dynamics and growth trajectory. With the ever-increasing penetration of internet services and mobile devices in South America, betting activities are increasingly shifting towards online platforms. Web-based applications serve a significant portion of the user base, as they offer comprehensive features that enhance the betting experience, including in-depth statistics and real-time updates. Meanwhile, Mobile-Based applications are gaining prominence due to their convenience and accessibility, appealing to a younger, tech-savvy demographic that prefers placing bets on-the-go.

The popularity of mobile applications is supported by the region's evolving digital infrastructure and the increasing use of smartphones. This duality in application types not only caters to diverse user preferences but also contributes to enhanced user engagement and retention in the competitive landscape of the South America Online Sports Betting Market. The demand for innovative betting features and personalized experiences within these applications highlights the importance of technology in driving market growth and attracting new users.

Online Sports Betting Market Web-Based Insights

The Web-Based segment of the South America Online Sports Betting Market has shown a notable rise, reflecting the increasing penetration of the internet and the growing popularity of online gaming platforms in the region. This segment advantages from its accessibility, allowing users to engage in betting activities through various devices without requiring dedicated software installations. The convenience of using both Windows and Mac platforms provides users with flexible options, catering to different preferences and enhancing user engagement. As smartphone usage continues to surge in South America, the Web-Based segment appears to benefit, capturing significant market share.

The growth of this segment is driven by the youth demographic's inclination towards online entertainment and their preferences for digital transactions, which makes it a preferable choice for many bettors. Competitive offerings, innovative features, and rapidly evolving technology are also contributing factors that fuel the segment's expansion. As the digital landscape evolves, opportunities for collaborative partnerships and personalized experiences emerge, ensuring that the Web-Based segment remains a vital component of the overall South America Online Sports Betting Market.

Online Sports Betting Market Mobile-Based Insights

The Mobile-Based segment of the South America Online Sports Betting Market is witnessing substantial growth, driven by the region's increasing smartphone penetration and enhanced internet accessibility. Mobile devices, particularly through operating systems like iOS and Android, have become the primary medium for sports betting, ensuring convenience and real-time engagement for users. The shift towards mobile platforms allows bettors to make wagers anytime, anywhere, thus enhancing user experience and participation. Furthermore, mobile applications are integrating advanced features, such as live streaming and in-play betting options, which significantly attract a younger demographic that favors quick and dynamic betting experiences.

The popularity of mobile betting aligns with South America's rich sporting culture, particularly in soccer, further propelling engagement in this market. With a majority of users favoring mobile platforms, the dynamics of online sports betting are transforming, enabling operators to innovate and optimize their offerings geared towards mobile users, thus capitalizing on emerging trends and consumer preferences. Consequently, the Mobile-Based segment remains significant in shaping the future of the South America Online Sports Betting Market, contributing to overall market trends and growth objectives.

Online Sports Betting Market Regional Insights

The South America Online Sports Betting Market is experiencing significant growth, reflecting a rising popularity of online gambling amid evolving regulatory frameworks. Within the region, Brazil stands out as a major player, driven by its large population and growing interest in sports, particularly soccer. Mexico follows closely, with a well-established betting culture that continues to flourish alongside digital advancements. Argentina, known for its passionate sports fans, represents a crucial segment as sports betting becomes more integrated into mainstream entertainment.In the Rest of South America, various countries are gradually embracing online sports betting, contributing to the overall growth of the market. 

This increasing trend of digitization in betting activities enhances accessibility and promotes market expansion across diverse demographics in the region. The overall economic conditions and a shift towards legalizing online betting across various South American countries further create opportunities for market players, presenting a favorable landscape for innovation and growth in this industry. With a robust interest in sports and technology adoption among the youth, the South America Online Sports Betting Market is poised for greater advancements and participation in the coming years.

Source: Primary Research, Secondary Research, MRFR Database, and Analyst Review

South America Online Sports Betting Market Key Players and Competitive Insights

The South America Online Sports Betting Market has experienced significant growth in recent years, fueled by a combination of technological advancements, regulatory changes, and a rising interest in sports betting among consumers. As countries in the region continue to reevaluate their legal frameworks concerning gambling, numerous online betting platforms have emerged to cater to an expanding audience eager to engage with sports dynamically and interactively. The competitive landscape is characterized by a diverse array of players, each vying for market share through innovative offerings, competitive odds, and robust marketing strategies. This competition has led to improved user experience as operators invest in technology, customer service, and localized content to attract bettors.

Bet365 has established a notable presence in the South American Online Sports Betting Market, leveraging its reputation for reliability and extensive betting options. The company's strengths lie in its user-friendly platform, competitive odds, and a vast array of sports markets, including popular local sports such as soccer. Bet365's commitment to localized marketing strategies has enabled the company to build strong relationships with consumers in various South American countries, enhancing brand loyalty and fostering repeat engagement. Additionally, its diverse payment options, including local currencies and e-wallets, make it accessible for a wide range of bettors, further solidifying its competitive edge in a rapidly evolving market.Pinnacle has carved out a unique niche within the South American Online Sports Betting Market by positioning itself as a brand that offers high limits and low margins, appealing to more experienced bettors. 

Known for its solid reputation in offering some of the best odds in the industry, Pinnacle focuses on providing value to its users, which attracts a dedicated customer base. The company offers a broad selection of betting markets, including niche sports, which enables it to cater to a wide audience. Pinnacle's strengths lie not only in its competitive odds but also in its commitment to transparency and trustworthiness, which has appealed to the discerning South American bettor. While the company has not engaged in significant mergers and acquisitions within the region, its emphasis on maintaining a robust online platform and fostering customer loyalty has contributed to its sustained growth and prominence in the market.

Key Companies in the South America Online Sports Betting Market Include

• Bet365
• William Hill
• Sportingbet
• 888 Holdings
• Betfair
• Betway

South America Online Sports Betting Market Industry Developments

Recent developments in the South America Online Sports Betting Market have shown significant advancements and growing interest from major companies. Under Law No. 14,790/2023, Brazil officially initiated its national fixed-odds sports wagering market on January 1, 2025. The market was granted full licenses to 14 operators and provisional status to over 50 others.

South America Online Sports Betting Market Segmentation Insights

Online Sports Betting Market Sports Type Outlook

• Football
• Horse Racing/ Riding
• Car Racing
• Cricket
• Hockey
• Boxing
• Baseball
• Basketball
• Tennis

Online Sports Betting Market Type Outlook

• Line-in-Play
• Fixed Odds Betting
• Exchange Betting
• Daily Fantasy
• Spread Betting
• E-Sports
• Others

Online Sports Betting Market Application Outlook

• Web-Based
• Mobile-Based

Online Sports Betting Market Web-Based Outlook

• Windows
• Mac

Online Sports Betting Market Mobile-Based Outlook

• iOS
• Android

Online Sports Betting Market Regional Outlook

• Brazil
• Mexico
• Argentina
• Rest of South America

 

Report Attribute/Metric Source:	Details
MARKET SIZE 2023	2.85(USD Billion)
MARKET SIZE 2024	3.5(USD Billion)
MARKET SIZE 2035	13.4(USD Billion)
COMPOUND ANNUAL GROWTH RATE (CAGR)	12.98% (2025 - 2035)
REPORT COVERAGE	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
BASE YEAR	2024
MARKET FORECAST PERIOD	2025 - 2035
HISTORICAL DATA	2019 - 2024
MARKET FORECAST UNITS	USD Billion
KEY COMPANIES PROFILED	Bet365, Pinnacle, Codere, LeoVegas, William Hill, Betfair, Sportingbet, DraftKings, Rivalo, 888 Holdings, Betway, Novibet, FanDuel, Bodog, Lottoland
SEGMENTS COVERED	Sports Type, Type, Application, Web-Based, Mobile-Based, Regional
KEY MARKET OPPORTUNITIES	Rapid legalization trends, Mobile betting adoption, Diverse sporting events, Innovative payment solutions, Growing esports popularity
KEY MARKET DYNAMICS	Regulatory changes, Increasing smartphone penetration, Rising disposable incomes, Popularity of live betting, Enhanced payment options
COUNTRIES COVERED	Brazil, Mexico, Argentina, Rest of South America