Long-held preconceptions about gambling are being dispelled in many regions of the world, especially in Latin America and Africa. Age-old taboos that once stigmatized the gambling industry are being demystified and refuted, primarily by young people in these gaming jurisdictions. Gambling, formerly a social taboo and confined to limited forms like lotteries and horse betting, is now gaining popularity as a mainstream source of entertainment. In Zimbabwe, the rise of sports betting shops, casinos, and lottery games represents a dramatic shift in social attitudes. In Latin America, the emphasis is on the online gambling industry, and more and more new online casinos in LATM are emerging to meet demand.
Factors Driving The Growth
The normalization of casino culture in previously skeptical regions can be attributed to several key factors, including:
Youth Demographic
Zimbabwe has grappled with a persistently high unemployment rate for several decades. This issue became even more pronounced during the pandemic, and the post-pandemic period has not seen a significant recovery in employment opportunities. Consequently, many young people have been compelled to explore opportunities in nontraditional sectors, with the online gaming industry being a popular choice. Zimbabwe’s youth demographic tends to be more tech-savvy, which aligns well with the demands of our digital age.
Many sectors have transitioned to online operations. The online gaming industry is a great example of this change. This shift has come with attractive incentives for new and experienced casino players, including sign-up bonuses, no-deposit bonuses, free spins on online slot games, and much more. The emergence of social casinos has also served as an excellent induction platform, allowing new players to test out various casino games and strategies for free.
Updated Gambling Legislation
In many areas, the stigma associated with gambling can be attributed solely to the consequences of unregulated gaming establishments and the potential of online casino scams. In recent decades, multiple countries have worked to develop regulatory frameworks that balance the interests and well-being of individuals, gaming providers, and governments. Clear laws prevent the majority of the negative consequences of problem gambling.
The Latin American region is an excellent example of such efforts. Individual countries, including Brazil, have been making progress in regulating their domestic gaming industries. In the final month of 2023, the country’s Chamber of Deputies approved bill 3626/2023, which legalized sports betting. The Senate had successfully excluded igaming from the law, but the Chamber was able to reinstate it. Chile also enacted a similar bill to govern the country’s online gambling activity. The chamber of deputies approved a detailed measure outlining licensing requirements and other aspects of operations. The law is currently in the Senate, awaiting the second step of the country’s legislative process. Also, Santa Fe is Argentina’s most recent province to legalize sports betting and online gambling services.
Proactive and Better Organized Gaming Providers
B2B collaborations are emerging as a viable market entry method, immediately improving gaming quality in previously isolated landscapes. Establishing local partnerships assists in navigating rapidly changing regulatory environments and tailoring gaming offerings to different populations. Such collaborations have been implemented in emerging jurisdictions such as Zimbabwe and the vast LatAm region.
In a recent development, Pragmatic Play, a worldwide famous gaming supplier, entered into an agreement with several Latin American gambling platforms. The arrangement will bring over 300 gaming titles to the region’s players, including virtual sports, live casino games, and slots. Similarly, TG Lab, a global gaming giant, has recently ventured into Colombia. The platform is aggressively looking for collaborations in the region’s regulated marketplaces. Previously, many unregulated gambling states lost significant money to illicit international gaming operators. With regulation, such governments provide a conducive atmosphere for engagement with reputable overseas gaming companies, protecting their players from fraud and abuse.
Internet Penetration and Access To Smart Gadgets
In Zimbabwe, 5.75 million active internet users were recorded at the beginning of 2023. It represents 34.8% internet penetration. The country also reported 14.08 mobile phone connections over the same period, accounting for 85% of the population. Although these statistics are relatively low, they are rapidly increasing. By 2021, 60% of the Latin American population had easy access to mobile internet connectivity. Such accessibility has helped to increase the popularity of online gaming platforms in the region.
Final Word
The traditional negative image associated with casinos, often depicting excessive indulgence and financial losses, has transformed considerably due to improved access to gaming platforms, robust player protection policies, and well-regulated systems. This has paved the way for responsible and safe interactions between players and casinos.