Mexico Gambling Market (2020-2026) | Size, Share, Analysis, Revenue, Forecast, Trends, Growth, value, industry, Outlook & COVID-19 IMPACT

Latest 2023 Development of the Mexico Gambling Market

Mexico gambling market has seen a significant increase in the number of land-based casinos in recent years, particularly in the popular tourist destinations of Cancun, Playa del Carmen, and Los Cabos. This has led to increased competition among casino operators and a rise in revenue for the Mexico gambling industry. Additionally, Mexico introduced new regulations for online gambling, aimed at increasing consumer protection and reducing the risk of money laundering. The new regulations require all online gambling operators to obtain a license from the Mexican Gaming Commission (SEGOB) and comply with strict reporting and auditing requirements. Further, the COVID-19 pandemic has accelerated the trend towards online gambling in Mexico, as more people have turned to online gaming as a form of entertainment while staying at home. This has led to increased investment in online gambling by both domestic and international operators.

The sports betting market had been expanding in Mexico, with many operators seeking to tap into the growing interest in major international sporting events. In particular, the popularity of soccer had been driving much of the growth in this sector. Moreover, the land-based casino sector had also been growing in Mexico, with a number of new facilities opening up in recent years. This has been driven by a combination of factors, including increasing tourism, a growing middle class with disposable income, and the relaxation of regulations around casino construction. These factors will further enhance the market share of the players.

Mexico Gambling Market Synopsis

Mexico Gambling Market has been growing significantly owing to the changing lifestyles and rise in purchasing power of consumers. Increasing adoption of smartphones and rising penetration of the internet which provides easy access to online casino gaming platforms are also driving the market. The outbreak of the Covid-19 pandemic led to a decrease in market revenues in the year 2020 owing to the closing of land-based gambling platforms due to the pandemic. However, the market is expected to register growth in the forecast period. The market has seen a halt owing to the massive outbreak of COVID-19 which resulted in nationwide lockdowns to combat the spread of the virus and has led to a decline in overall market growth.

According to 6Wresearch, Mexico Gambling Market size is projected to grow at a CAGR of 33% during 2020-2026. Although Covid-19 led to a decrease in the market revenue of land-based casinos, it had a positive impact on online gambling platforms. As customers could not step out of their houses during the lockdown, many of them started using online gambling platforms as a leisure activity. Factors such as increasing internet penetration and the availability of cost-effective mobile applications contributed to this trend. Moreover, increasing digitalization coupled with secure digital payment options are also some factors contributing to the online gambling market growth. The market is further expected to gain momentum over the forecast period attributed to the rising use of digital currency and websites provided by companies for betting and gambling.

Market Analysis by Product Type

By product type, the gambling market is segmented into betting, casino, lottery and others. The casino segment has been dominating the market and is expected to register growth in future.

Market Analysis by Channel Type

By channel type, the gambling market is segmented into online and land-based. The land-based segment is dominating the market revenues in 2019, but the online segment is expected to register maximum growth in the forecast period.

Key Attractiveness of the Report

• COVID-19 Impact on the Market.
• 10 Years Market Numbers.
• Historical Data Starting from 2016 to 2020.
• Base Year: 2019
• Forecast Data until 2026.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report

• Mexico Gambling Market Overview
• Mexico Gambling Market Outlook
• Mexico Gambling Market Forecast
• Historical Data and Forecast of Mexico Gambling Market Revenues, for the Period 2016-2026F
• Historical Data and Forecast of Mexico Gambling Market Revenues, By Product Type, for the Period 2016-2026F
• Historical Data and Forecast of Mexico Gambling Market Revenues, By Channel Type, for the Period 2016-2026F
• Historical Data and Forecast of Mexico Online Gambling Market Revenues, By Types, for the Period 2016-2026F
• Historical Data and Forecast of Mexico Land-Based Gambling Market Revenues, By Types, for the Period 2016-2026F
• Market Opportunity Assessment by Product Type
• Market Opportunity Assessment by Channel Type
• Market Drivers and Restraints
• Market Trends
• Competitive Benchmarking
• Key Strategic Recommendations

Market Scope and Segmentation

The report provides a detailed analysis of the following market segments:

• By Product Type:
• Betting
• Casino
• Lottery
• Others (Poker, Bingo etc)
• By Channel Type:
• Online
• Land-based