The Latin American online casino market continues to expand at pace. New platforms are launching daily, offering familiar games, localised experiences, and broad accessibility for players across Argentina and Brazil.
At the same time, Gamecheck investigations are identifying a parallel development. A growing number of newly launched domains are entering the market with patterns that require further checks. Some have already been identified as offering fake games. This reflects the scale, speed, and increasing complexity of growth across the region.
Behind every exposed site is a level of player activity that is easy to underestimate. Gamecheck data shows that just four fake casinos generated more than 6.9 million visits over a 12-month period, highlighting how visible these platforms are to players before they are flagged and exposed by Gamecheck.
This reflects consistent engagement across multiple markets, with players accessing the same sites from different countries at the same time. Even smaller or newly launched domains continue to attract steady volumes, showing how quickly fake casinos can establish reach once they appear.
What this points to is scale. Fake casinos are not operating in small pockets. They are part of a wider network of sites that can generate significant traffic before being identified and monitored. This is why ongoing checks matter, not just at launch, but over time as activity shifts across regions.
Industry experts now describe South America’s online gambling market as entering a phase of structural consolidation. According to the latest SiGMA South America Market Report, this shift is anchored by the scale of Brazil and reinforced by strong secondary markets across the Southern Cone (Argentina and Chile) and the Andean corridor (Colombia and Peru).
The report draws on data from market intelligence provider Blask. It shows that while revenue remains concentrated in a small number of structured markets, participation is expanding more widely across both regulated and unregulated environments.
The current landscape is defined by a clear hierarchy. One dominant market sits at the centre, supported by several stable mid-tier economies, while emerging demand continues to develop in territories without formal frameworks.
Measured engagement and revenue remain strongest where structure exists. At the same time, the report highlights that certain unregulated markets are generating notable levels of activity, suggesting monetisation potential that extends beyond formal structures.
Brazil stands as the dominant force within this structure. With a population exceeding 220 million and the internet reaching more than 170 million users, it outpaces all other jurisdictions in South America.
Blask data indicates that engagement peaks above 232 million, while monthly revenue exceeds $500 million. This positions Brazil as the primary contributor to the continent’s total market value. In 2025, the licensed sector generated $7.2 billion in gross gaming revenue, contributing over $1.9 billion in tax revenue.
Brazil now functions as the operational reference point for the region. It sets expectations around localisation, market entry, and commercial scale. Its size and visibility also make it a focal point for new market entrants.
Argentina represents the second key pillar in the South American market. It ranks highly in both revenue and engagement, demonstrating that structured frameworks can sustain monetisation even during periods of economic pressure. Peak monthly revenue exceeded $137 million in 2025.
Peru presents a more balanced profile, combining steady engagement levels with monthly revenue approaching $80 million. Colombia continues to support stable activity through its structured environment, maintaining engagement above 14 million and revenue exceeding $41 million per month.
Beyond these markets, the report highlights growing demand in areas without formal frameworks. Chile, for example, shows strong revenue potential, with monthly activity exceeding $95 million. Venezuela and Ecuador also contribute measurable engagement and revenue, despite operating without structured oversight.
This creates a layered market. Structured economies drive stability, while unstructured environments continue to expand participation and demand.
This broader market structure provides context for the increase in fake casino activity.
As demand expands across both structured and unstructured markets, new domains are entering the space quickly. Many of these platforms are designed to align closely with player expectations. They replicate familiar layouts, present recognisable games, and mirror the experience of established sites.
However, these similarities operate at surface level.
Gamecheck’s investigations show that differences are often only identified through testing and evidence collection. A selection of games is tested, and findings are checked with the original game providers to determine whether the games are real. This process reveals inconsistencies that are not visible through design or presentation alone.
These sites are recent entrants to the LATAM market and have already required investigation based on early indicators. A selection of games from multiple providers has been checked, with fake games detected by Gamecheck’s investigative team.
A positive sign is that many online casinos previously identified by Gamecheck as offering fake games have since closed or replaced those games with real versions. This reflects a gradual shift towards greater transparency and fair play across the industry.
Several of the online casinos we identified have since shut down or switched to real games following detection. This suggests that making these findings visible is helping to encourage greater transparency and higher standards across the industry.
The Latin American online casino market is entering a more defined phase of development. Demand remains strong across the region, but long-term sustainability will depend on structure, and consistent oversight. Industry leaders continue to emphasise that growth alone is not enough.
The ability to align engagement with transparency and fair play will define the next stage of the market. At the same time, the presence of newly launched and untested domains shows that ongoing monitoring remains essential.
The increase in fake casinos across LATAM reflects the scale of growth across the region. Brazil continues to lead. Argentina and neighbouring markets reinforce stability. New demand continues to emerge across both structured and unstructured environments.
For players, the approach remains simple. Taking a moment to check an online casino before you play, can help you avoid unnecessary frustration later, such as refused pay-outs, and reduce the risk of your details being reused across other suspicious sites.
