How the Mexican gambling industry compares with their neighbors – The Yucatan Times

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There is a long history of gambling in Mexico as it is deeply intertwined within the culture. It is an important form of social interaction and entertainment. The citizens enjoy everything from poker and blackjack to roulette and baccarat.

From traditional land-based outlets to utilising offshore online casinos and betting sites, there are plenty of options for those looking to play casino games or bet on sport. Much of the gaming options have been influenced by other countries in North America as well as further afield, including Europe and Asia.

In this post, we look at the current state of play regarding Mexico’s gambling industry compared to its neighbours and what factors influence how Mexico’s gambling market performs. The legal landscape in Mexico is complex, we look at this in comparison to Canada and the United States. We also consider what the future holds for the industry in the years ahead.

The current gambling landscape in Mexico, the United States and Canada

The legal framework for gambling is considerably more complex in Mexico in comparison to other countries, the laws are not easily understood for those not familiar with them and they are more on the restrictive side overall.

Some forms of gambling are allowed, including physical land-based casino venues and betting on horse racing. By comparison, Canada has a more lenient legal stance on gambling with different regulatory requirements based on which province of Canada you are in. Residents now have a range of choice with plenty of providers available who all pride themselves on different things.

One area which is increasingly important in the modern day is offering different trusted payment methods. With 6.4 million active PayPal accounts in Canada alone, industry expert Adam Ryan delved into the best online casinos that accept PayPal in Canada for Casino.org, providing over 90 positive reviews, highlighting just how much choice there is for players.

Across the border in the United States, gambling laws are more fragmented and differ from state to state. There are states such as Utah and Hawaii that take an entirely prohibited approach, while there are others such as Nevada and Philadelphia that instead choose to allow and regulate different types of gambling activities.

It is not entirely clear what the legal standing is for online gambling sites in Mexico due to the wording of legislation. Therefore, it is important that those in Mexico wanting to participate in such activities online do their research and ensure they are only using safe and regulated gambling operators.

A brief overview of the history of gambling in Mexico

Gambling has taken place in Mexico since the time of the ancient indigenous populations and has evolved significantly over the last few centuries into the industry it is today. It wasn’t until the 16th century that the Spanish conquistadors introduced their own gambling laws and by 1771 the first formal gambling outlet was established in Mexico, and was known as the Royal General Lottery.

Casinos took on more of a French style in the early part of the 20th century and their elegance helped to attract a number of tourists, mostly ones from the United States where gambling was still prohibited at the time.

In the mid 1930s, the President of Mexico, Lazaro Cardenas, took a restrictive stance and banned most forms of gambling. However by 1947, the gambling landscape had shifted once again and the Federal Games and Draws Law helped to introduce new gambling regulations to Mexico.

What does the future hold for gambling in Mexico? A growing industry with lots of potential

We are currently seeing a significant growth trend within the gambling market in Mexico. It has been estimated that the compound annual growth rate will be around 33 percent between 2020 and 2026.

Land based casino venues currently hold a good portion of the market share. As the Mexican government sees the potential economic benefits, such as tax revenue and job opportunities, we will likely see them take a less prohibitive stance when introducing new gambling regulations in the next few years.

With mobile penetration rates also on the rise, as well as access to fast and reliable wifi internet connections, there will be more opportunities for online casinos and online sportsbooks in future too.

New technological developments will help to improve the online experience, making it appeal to those who previously had a preference for traditional land-based venues. The use of Artificial Intelligence (AI) will allow the experience to become more personalized and immersive. Players will receive game suggestions and offers based on their individual preferences.

If the Mexican government does move to take a less restrictive stance on gambling in the country, this will be a huge opportunity for more international gambling operators to open up their services to the citizens of Mexico, who might not currently have easy access to these sites. Mexicans will be able to enjoy a wide variety of casino offerings such as live poker or video slots, as well as betting on more sports and international competitions.