As the ICE 2024 event took place between February 6th through February 8th the focus was on the growing esports market in the LatAm region, which continues to show promising growth in regards to the industry.
Among the highest in potential forecasts related to the esports industry, Brazil stands the highest, mainly because it is the continents most populous country. However, Mexico is projected to see a massive revenue boost, as high as $300m across the continent by 2027.
Additionally, major esports teams like Unikrn, Stake and Rivalry are all making moves in the region and LatAm is well on it’s way to becoming one of the dominant esports markets around the world and is seeing increased competition.
“Esports betting is quite large in Brazil,” Unikrn Chief executive Justin Dellario said, according to iGamingBusiness. “And in Canada, a place where we currently operate.”
Dellario added that Unikrn was looking to expand into new markets, but “only when we have the confidence we can operate locally, sustainably, in a way that’s safe for customers”.
Unikrn announced a new partnership with esports organization Team Liquid in Brazil back in February of this which allowed both of the companies to increase their presence in Brazil.
Rivalry has been actively making moves in the Brazilian market within the 2023 year, highlighted by the October marketing campaign featuring esports influencer Gustavo “Baiano” Gomes, as part of their plans to expand engagement with esports fans in Brazil.
LatAm is poised for growth, but also is facing hurdles in the continued expansion, in the form of regulations and technology issues, with the level of infrastructure in certain regions proving to be a problem.
“The technical infrastructure varies not only from country to country but even inside one country,” Bashkevich said, during an interview with iGamingBusiness. “For example, in Brazil, where north and south are absolutely different in terms of smartphone adoption. The same applies to the payment solutions, as having local payment methods is a must for the region. Only thorough research will help operators utilise the undoubtedly colossal potential of the region.”
