ICE 2024, the biggest show of the year, is on the horizon and iGB is here to get you ready with all the latest updates since the 2023 show. One key talking point at the upcoming event is the status of the esports market. While it may have lost some momentum post-COVID-19, the Latin American (LatAm) region continues to show positive growth in the esports sector.
Brazil, as the most populous country in the region, is forecasted to have the highest potential for esports growth, with Mexico also expected to contribute significantly. Projections show that the continent could see revenues of up to $300 million by 2027. Esports giants like Unikrn, Stake, and Rivalry are making strategic moves in the region, suggesting that LatAm is on its way to becoming one of the dominant global esports markets with increased competition.
Top LatAm organizations, such as FURIA and MIBR from Brazil, are emerging and have the potential to make the region one of the most exciting opportunities in the esports world.
Following its acquisition by Entain in October 2021, Unikrn was relaunched in December 2022 and has since gone live in Brazil. The platform’s CEO, Justin Dellario, sees the huge potential of the region, particularly in the realm of esports betting. Unikrn has also announced partnerships with esports organization Team Liquid and esports platform Gamers Club to increase its presence in Brazil.
Rivalry, a specialized esports betting operator, also had a successful year in 2023, surpassing revenue expectations and making moves in the Brazilian market with marketing campaigns and exclusive partnerships with Brazilian esports groups.
However, despite the growth, LatAm’s esports market still faces obstacles. Regulation and technological infrastructure are key concerns, with certain countries, such as Argentina, lacking regulation for esports, and varying levels of technical infrastructure within different regions of countries like Brazil. Overcoming these obstacles will be crucial for operators looking to capitalize on the region’s esports potential.
As ICE 2024 approaches, all eyes will be on the evolving landscape of the esports market in LatAm, with potential for significant growth and opportunities in the coming years.