The esports market in LatAm continues to show positive growth, with Brazil leading the way as the most populous country on the continent. Mexico is also projected to contribute heavily to the region’s revenues, which are estimated to reach $300m by 2027.
Esports giants like Unikrn, Stake, and Rivalry are making significant moves in the region, fueling the competition and positioning LatAm as one of the dominant global esports markets.
The emergence of top LatAm organizations like FURIA and MIBR from Brazil adds to the region’s appeal and potential as an exciting opportunity in the esports world.
In October 2021, Unikrn was acquired by Entain, and the brand was relaunched in December 2022. With its market entry secured in Brazil, Unikrn is now live in the country, aiming to tap into the vast potential of the region. Unikrn’s Chief Executive, Justin Dellario, expressed excitement about the sizeable esports betting market in Brazil and the company’s plans for sustainable expansion into new markets.
Unikrn made strategic partnerships with esports organizations like Team Liquid and Blast, as well as with esports platform Gamers Club, offering custom odds for players. However, Unikrn faced a setback in October when Entain announced scaling back of B2C operations within its esports betting arm.
Rivalry had a successful year in 2023, exceeding revenue expectations. The specialized esports betting operator posted record revenue and achieved a significant year-on-year increase. Rivalry made moves in the Brazilian market, partnering with esports group Tribo and running marketing campaigns. Their focus is on engaging with esports fans in Brazil.
Despite the impressive growth, the LatAm esports market still faces obstacles to further expansion. Regulation and technological infrastructure, particularly variations in smartphone adoption and payment solutions, are challenges that need to be addressed for operators to fully utilize the region’s potential.
