Beyond the Brazilian Boom: The New iGaming Frontier in LATAM 2026

While Brazil has dominated the headlines in recent years, the real story of 2026 is the rapid professionalization and expansion of the rest of Latin America. From the high-tech streets of Santiago to the newly liberalized markets of Asunción, the region is moving away from the "grey zone" and toward a sophisticated, multi-jurisdictional landscape.

For operators and affiliates, this shift requires a new level of precision. At Track360, we’re seeing that "tracking smarter" in 2026 means navigating complex local taxes, mobile-first player behaviors, and the rise of niche sports betting.

Top Trends for 2026: The "Professional Era"

The days of one-size-fits-all platforms are gone. In 2026, three major trends are defining success in the region:

• The Sweepstakes & Social Casino Pivot: With traditional GGR (Gross Gaming Revenue) taxes rising in places like Colombia and Peru, many operators are launching Social Casino and Sweepstakes models to engage players in markets where traditional licensing is still in progress.
• Hyper-Localization of Payments: Beyond basic credit cards, 2026 has seen the total dominance of instant bank transfers and e-wallets. In Mexico, OXXO Pay remains king, while in newer markets like Paraguay, the ability to settle affiliate commissions via localized crypto-to-fiat gateways is becoming a competitive necessity.
• eSports & Virtuals: No longer a side-hustle, eSports betting is now a core vertical. In Peru and Mexico, Gen Z and Millennial audiences are driving triple-digit growth in virtual sports and competitive gaming wagering.

New Markets & Growth Potential: 2026 Watchlist

If you aren't looking at these three countries, you are missing the most stable growth opportunities in the southern hemisphere.

1. Paraguay: The Monopoly-Breaker

2025 was a historic year for Paraguay. The government finally ended its long-standing state monopoly on gambling, moving to an open licensing system.

• The Big Change: Operators can now hold licenses for up to three different verticals (e.g., Sports, Casino, Bingo) under a competitive framework managed by DNIT.
• Potential: Analysts expect Paraguay’s iGaming revenue to triple by 2027. It has quickly become a "laboratory" for international brands looking for a clear, pro-business regulatory environment.

2. Chile: The Next $500M Market

After years of legal "limbo," Chile’s Senate recently approved a comprehensive online betting regulation bill.

• Regulation Status: Licensed operators are now subject to a 20% specific tax plus VAT. The bill includes strict 12-month "cooling-off" periods for operators who were previously active in the grey market without a license.
• Market Size: Conservative estimates place Chile’s addressable market at over US$350–$500 million in GGR for 2026.

3. Peru: The Transparency Leader

Peru officially brought its new iGaming law into effect in 2024, and 2026 is its first year of "mature" operation.

• The Numbers: With a population of over 34 million and a 70%+ mobile internet penetration rate, Peru’s total gambling market is forecast to hit US$7.6 billion by 2033 .
• Growth Driver: The 12% GGR tax is considered one of the most balanced in the region, attracting major European brands who see it as a more sustainable alternative to the high-tax environment of Colombia.

Regulatory Pulse: The "Tax Strain" in Colombia

Colombia remains the pioneer of the region, but 2026 has brought its first real growing pains. A new 19% VAT on GGR (Value Added Tax) has replaced older deposit-based taxes. While this is technically more "modern," industry bodies like Fecoljuegos have warned that the effective tax burden can reach 66% when all levies are included.

The Lesson for Track360 Users: High taxes mean your margins are thinner than ever. To survive in Colombia in 2026, you cannot afford "leakage" or fraud. Precision tracking isn't just a luxury—it's the only way to ensure your marketing spend is actually profitable.