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A Look at Sports Betting in South America & India

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4 years ago

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Sports betting is something that continues to gain popularity all over the globe, and it shows no sign of slowing down any time soon. When it comes to sports betting, South America and India have a lot of things in common, while there are also plenty of differences. In this article, we are going to take a closer look at sports betting in South America and India and see which one has more room for growth.

Sports Betting in India

Sports betting has become a method of entertainment for a large percentage of the Indian population, and sports betting sites all over the world are aware of this. Many bookmakers are more than happy to accept players from India now as they know just how big the market is. Those who do not allow Indians to open an account with them are missing out on a large slice of the pie.

The Legal Status of Sports Betting in India

The laws and regulations surrounding online gambling are a bit of a grey matter in India, and this can come as no surprise when the laws that are in action came about when the British were colonizing India. In other words, the Indian government are still making use of gambling laws that came into being before the Internet was even invented.

For the most part, gambling is prohibited throughout India, although it is legal in a couple of states such as Sikkim and Goa. In these two states, you will come across a few land-based casinos. However, when it comes to sports betting, Indians can open an account with a sports betting site so long as they are not based within India. The Indian government are fully aware as to how much money they are losing in taxes, so it is highly likely that at some point soon they will amend the laws and regulations to include online sports betting.

Sports Betting Options in India

According to statistics and estimates, around half a billion Indians have regular access to Internet, while over 400 million watch sporting events and bet on sports. Below we shall look at the popular sports that Indians enjoy betting on.

Cricket

Cricket, without a doubt, is the most popular sport in the country. When people say that cricket is like a religion in India, they are not lying. When the Indian cricket team is playing or if there is an Indian Premier League game being played, the whole country basically stops to follow the events.

As well as watching cricket, Indians love to place bets on it. It has been estimated that Indians wagers $50-60 million on every IPL match. Bookmakers know just how much Indians love cricket betting, which is why the majority will do their utmost to ensure that they have plenty of markets and great odds for all the best cricket competitions such as the IPL, The Ashes, The Big Bash League, the World Cup and ODI and Test matches.

Football

Football is the most popular sport in the world, and it is also very popular in India, although not as popular as cricket. The football competitions that Indian football fans like to focus on are the Indian Super League, the China Super League, and the MLS. They also follow the biggest leagues in Europe such as the Premier League, La Liga, Serie A, and Bundesliga. They also like to watch and bet on the Europa League and the Champions League. Indians love for football betting means that bookmakers offer markets and odds for many lesser leagues around the world.

Horse Racing

Indians love their horse racing and when it comes to popularity it is only behind cricket. While land-based sports betting is prohibited across the country, there is an exception when it comes to betting on horse racing. We do not know why this is the case, but it likely has something to do with the fact that horse racing would probably become obsolete if nobody could bet on it.

Horse racing is a popular sport all over the world, so most bookmakers that Indians can open an account with will have odds and markets for a wide variety of horse racing events.

Sports Betting in South America

Sports betting within South America is very diverse. This is not too much of a surprise since the different countries obviously have different laws and regulations when it comes to sports betting. Below we are going to have a look at sports betting in some of the biggest countries in South America.

Brazil

Brazil is a huge country with a very big population. The people of Brazil have plenty of interests but betting on sports is one that stands out from the crowd. When it comes to the legalities of sports betting, land-based sportsbooks are illegal, which is why black sports betting markets are thriving in Brazil.

Just like with India, online sports betting is a grey area. The current laws and legislation in place do not prohibit online betting, so there are a number of legitimate bookies out there that are happy to accept players from Brazil.

Brazilians enjoy betting on a variety of sport, but the one that stands out in terms of popularity is obviously football. The whole world knows how much Brazilians enjoy this sport. The people of Brazil rarely miss out on an opportunity to place bets on the Copa Libertadores or the Brazilian Championships. Obviously, whenever the Brazilian national team are playing there will be plenty of bets placed too. Other sports that Brazilians enjoy betting on include horse racing, basketball, UFC, and MMA.

Argentina

Sports betting goes back to the 1800s in Argentina. Just like with Brazil, football is the sport that leads the way when it comes to Argentinian sports betting. Why would you not have a passion for football when some of the greatest players to play the game have hailed from your country. We are obviously talking about the likes of Diego Maradona and Lionel Messi here. Other sports that Argentinians enjoy betting on include boxing, tennis, volleyball, and basketball.

The different provinces in Argentina have the authority to regulate sports betting, which means that in some provinces sports betting is legal, while in others it is illegal. Therefore, if you are in Argentina and you want to do some online sports betting, you should check whether it is legal to do so in the province that you are in. Buenos Aires, the country’s capital, was the latest province to allow online sports betting.

Chile

Before 1990, the only sport that Chileans could place bets on was horse racing. However, the government soon realized just how much the people of Chile love to bet on sports and how much money can be made from it, so they eventually came up with regulations and laws for online casinos and sports betting. These regulations state that betting sites must pay 20% taxes on their income from Chilean gamblers. This was put in place to ensure the betting platforms play by the correct rules or run the risk of losing their license.

When it comes to sports betting, it is safe to say that the people of Chile are not too picky about what sport they are putting their money on. However, like with Brazil and Argentina, football is the most popular sport in the country. With regards to sports betting sites, there are no shortage of them out there that are happy to accept players from Chile.

Where is There More Potential for Growth?

We have taken a closer look at sports betting in India and some of South America’s biggest countries, so we are now going to take a quick look at which one has more room for growth.

Legality: In this regard, South America and India have similar unresolved issues. They have outdated regulations and different laws for different states and countries that obviously have a negative impact on the sports betting industry in these regions. Only a couple of state in India and a few countries in South America have legalized gambling.

Large bookies: The markets available are obviously limited by the issues that we just mentioned above, but there are plenty of international bookies that are happy to accept players from India and South American countries. However, when it comes to quantity and quality of bookmakers available, Indians have an advantage over those from South America.

Payment methods: The amount of payment options available is a good level for both India and South America. However, this being said, e-Wallets, credit cards, and cryptocurrency options are more diverse for Indian sports betting fans.

It is clear that India has more room for growth in the sports betting industry, but it is also clear that both South America and India have plenty of issues that need to be resolved so that their people can enjoy the same sports betting experience that many other nationalities experience around the world.

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Bragg Gaming Group Enteres into New Financing Agreement with Bank of Montreal

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3 days ago

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September 15, 2025

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Bragg Gaming Group, a leading global B2B iGaming content and technology provider, announced it has entered into a new financing agreement with the Bank of Montreal (BMO), a leading North American financial institution, pursuant to which BMO has made available to the Company certain credit facilities in a maximum aggregate amount of up to US$6.0 million to support its ongoing working capital and general corporate requirements (the BMO Facilities).

In connection with the closing of the BMO Facilities, Bragg has successfully repaid in full the outstanding promissory note with entities controlled by Doug Fallon (the Prior Note Indebtedness). The new BMO Facilities replace the Prior Note Indebtedness, signalling a significant step in the Company’s financial strategy to partner with a major commercial bank to support its growth.

“We are very pleased to establish this new relationship with the Bank of Montreal, a recognized leader in financial services. This new credit facility strengthens our balance sheet and provides us with a flexible capital structure to execute our strategic plan. The ability to secure financing from a major North American bank underscores the confidence in our business and our long-term growth prospects. We look forward to a long and successful partnership with BMO,” said Robbie Bressler, CFO of Bragg Gaming Group.

The BMO Facilities are secured by, amongst other things, a first-ranking security interest over all of the assets of the Company and certain of its key operating subsidiaries, and are uncommitted and are repayable upon the earlier of (i) demand by BMO, (ii) the occurrence of certain insolvency events, and (iii) on the one-year anniversary of the closing date, unless a one-year extension is granted at BMO’s discretion.

The agreement includes customary legal and financial covenants, including a requirement for the Company to maintain a Total Funded Debt to EBITDA ratio not exceeding 2.50:1.00, and a Fixed Charge Coverage Ratio of not less than 1.25:1.00. These financial covenants are to be tested on a consolidated basis at the end of each fiscal quarter.

The Company currently expects to draw on the BMO Facilities in Canadian dollars, which would result in estimated borrowing costs of 6.9%–7.9% for Prime-based loans or 5.9%–6.9% for CORRA-based loans, depending on the period of the draw and the Company’s leverage ratio. Standby fees on the unused portion of the revolving facility will range from 0.75% to 1.75% per annum, depending on leverage.

Management believes that based on the terms of the BMO Facilities, the Company’s borrowing costs on an annualized basis will be less than half of its Prior Note Debt.

Matevž Mazij, CEO of Bragg Gaming Group, said: “Securing this BMO facility represents a critical milestone in our strategic plan to strengthen Bragg’s financial foundation and accelerate value creation for our shareholders. With our cybersecurity incident contained and our borrowing costs cut by more than half, we are laser-focused on executing our strategic shift toward higher-quality earnings. The Company is prioritizing margin and cash generation over lower-margin revenue, and synergies realized post-quarter end to become a leaner operation. We’ve already realized EUR 2 million in annualized synergies and are on track to achieve our 20% Adjusted EBITDA margin target for the second half of 2025.

“Our recent leadership additions in AI and innovation, combined with our expanding partnerships with operators like Fanatics and Hard Rock Digital, position us to pursue highly accretive growth opportunities methodically. The Company remains focused on growing the business in a sustainable and margin-accretive manner, with strong momentum in the proprietary content and technology pipeline positioning Bragg for long-term profitable growth.

“We understand the importance of delivering results for our shareholders, and our board and management team are fully aligned and committed to executing the strategic initiatives that will drive value. With improved financial flexibility, a strengthened operational foundation, and clear milestones ahead, we believe we have the right strategy and team in place to unlock Bragg’s full potential. We remain committed to maximizing shareholder value as we build sustainable, profitable growth and ensure our strong operational performance translates into appropriate market valuation.”

Cyber Breach Update

The Company has also provided an update on its previously announced cybersecurity incident initially detected on August 16, 2025.

Immediately following detection, Bragg took appropriate steps to mitigate any potential impact of the breach. With the assistance of independent cybersecurity experts, the Company has followed industry best practices and considers that the incident is now resolved.

There continues to be no indication that any personal information was affected and the breach has had no impact on the ability of the Company to continue its operations. Bragg has also provided assurances to its customers regarding the security of its game titles. The Company has experienced no negative impact on its revenue or profitability and does not expect that the cost of responding to the incident will have a material financial impact on the Company.

The Company has already applied knowledge gathered from the investigation of the event to enhance its cyber security defenses.

The post Bragg Gaming Group Enteres into New Financing Agreement with Bank of Montreal appeared first on European Gaming Industry News.

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Betty

Thunderkick commits to growth in Ontario with Betty partnership

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1 week ago

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September 10, 2025

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Independent slots studio Thunderkick has agreed a deal with Ontario-based operator Betty to supply the rapidly growing online casino with a diverse collection of globally popular titles.

Betty, an official partner of sporting franchises Toronto Maple Leafs and Toronto Raptors, has risen to prominence since its 2022 establishment, when it was built following the consultation of 300 casino players to create the optimal iGaming environment.

Distinguishing itself from North American competitors by catering specifically to slot enthusiasts rather than sports bettors, the operator has curated a portfolio of 2,800 games, hand-picked to deliver customers maximum entertainment value.

Thunderkick’s content is the latest to be integrated into Betty’s online casino, and the agreement will see a selection of its most popular titles, including The Wildos 2, Midas Golden Touch 3, and Esqueleto Explosivo 3, made available to a greater number of Ontarian players.

Thunderkick marked its debut in the Canadian province in Q2 of 2024, and has since partnered with a network of leading operators to improve its market position. The collaboration with Betty will further amplify its visibility in a key jurisdiction as the provider looks to reinforce its reputation as a global slot developer.

Svante Sahlström, CCO at Thunderkick, said: “It’s our mission at Thunderkick to go deeper, not wider, in 2025. That means forging meaningful, lasting relationships in target markets as opposed to securing as many commercial deals as possible.

“Since entering Ontario over 12 months ago, we have worked tirelessly to enhance our presence in the province, and working with leading brands such as Betty allows us to bring our unique games to a deeper pool of Canadian players.”

Paraskeva Smirnova, Casino Operations Manager at Betty, added: “Betty’s USP has always been our drive to build a slot portfolio with the very best titles from the industry’s most creative suppliers.

“Thunderkick’s passion for slot development is there for all to see, and the introduction of its games to our casino further elevates the consumer experience.”

The post Thunderkick commits to growth in Ontario with Betty partnership appeared first on Gaming and Gambling Industry in the Americas.

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Save the Date: BCLC’s New Horizons in Safer Gambling Conference Returns November 2026

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1 week ago

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September 10, 2025

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BCLC is pleased to announce the return of the New Horizons in Safer Gambling Conference, taking place November 2–4, 2026, at the JW Marriott Parq Vancouver.

This global event brings leading voices in research, policy and industry together to explore innovative approaches to safer gambling. Attendees can expect two days of forward-thinking dialogue, evidence-based insights and collaborative solutions to help shape the future of player health.

Sponsorship Opportunities Now Available

New to the 2026 conference, BCLC is excited to offer sponsorship opportunities to organizations that share BCLC’s passion for safer gambling. Benefits of sponsoring New Horizons 2026 include industry visibility, leadership recognition and meaningful engagement with a global audience. To learn more about sponsorship, please e-mail [email protected].

Registration and program details will be released later this fall.

The post Save the Date: BCLC’s New Horizons in Safer Gambling Conference Returns November 2026 appeared first on Gaming and Gambling Industry in the Americas.

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