Mexico’s gambling market projected to reach US$40.6 billion by 2033
Mexico’s regulated gambling market is set for a compound annual growth rate of 15.7% to US$40.6 billion by 2033, according to a report from market research and consulting firm Astute Analytica.
The prediction follows state regulatory adjustments made to the Federal Gaming and Raffles Law in 2021 and again in 2023.
Mexico is a hub for mobile online gambling, driven by 82% smartphone ownership and affordable data plans. The 18–34 age group dominates the sector, comprising 71% of users. Mobile gambling revenue is expected to hit US$1.4 billion in 2024.
Sports betting, particularly on soccer, also fuels growth in Mexico. In 2023, US$2.1 billion was wagered on Liga MX’s Apertura tournament, with an 18% spike during marquee matches. Digital platforms like Sorare’s NFT-based fantasy league added 200,000 users for Tigres UANL within six months.
Technology is a key driver for development, with operators noted to have invested US$230 million in upgrades in 2023. AI enhances personalization and fraud detection, while blockchain improves transparency. 15% of licensees use Bitso for Bitcoin payouts.
However, challenges remain. Problem gambling affects 2.3% of Mexican adults, double the global average. At the same time, illegal operations also cost licensed operators up to US$450 million annually, and the government US$310 million in taxes, as they continue to evade regulatory oversight.
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