A $970 million iGaming market in 2026, double-digit annual online growth, and a co-hosted FIFA World Cup? You heard right. iGaming Mexico is picking up speed and is about to...
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AffPapa Exclusive: Rosa Ochoa on Disciplined Ambition in iGaming LatAm
In this AffPapa exclusive, Rosa Ochoa reflects on over 20 years in the iGaming industry, sharing her perspective on LATAM’s rapid evolution, the strategic balance of disciplined ambition, and how thoughtful, long-term approaches are shaping success beyond short-term gains.
Table of Contents
Starting out in iGaming
Rosa, when entering the iGaming industry more than 20 years ago, what originally inspired you, and could you have imagined that LATAM would become one of the fastest-growing iGaming regions globally?
When I entered the gaming industry more than twenty years ago, it was not part of a long-term plan. It began as a short-term opportunity in marketing within electronic lotteryoperations in Mexico. At that time, online gaming as we understand it today simply did not exist locally. Our closest operational reference was Puerto Rico, which had developedmore structured electronic lottery distribution models. That was one of the few benchmarks available in the region.
My work initially focused on preparing training materials and coordinating with point-of-sale operators. However, very quickly I realized that explaining a technological productrequired more than communication skills. I needed to understand how the system actually worked. That led me to spend time with engineering and technical teams, and thatexposure ultimately shaped my long-term perspective on the industry. It allowed me to see gaming not only as a product, but as infrastructure.
At that time, there were already early signs of digital evolution. Electronic lottery infrastructure was expanding, and technology was gradually becoming more integrated intooperations. What began to influence the industry in subtle ways was the growing presence of personal devices. We moved from pagers to early mobile phones, and that shift began to change how people interacted with information.
However, mobile devices were not yet communication channels for operators. They were not marketing tools or engagement platforms in the way we see today. They were simplycommunication devices. The idea that a personal device would later become the primary interface between player and platform was not yet part of the business conversation.
Looking back, the technological pieces were forming, but the ecosystem had not yet connected them. What surprised me was not the arrival of digital transformation, but howrapidly mobile adoption later reshaped player behavior and industry structure.
Growth vs. structure in LatAm
Today, the region is still often described as “high-growth.” From your perspective, are we still in an expansion phase, or are we moving into a more structured, compliance-driven stage, especially with platforms like Google planning advertising restrictions starting in March 2026?
The region continues to grow, but I would describe the current moment less as pure expansion and more as a phase of sequential stabilization.
In earlier cycles, growth was largely driven by opportunity. Entry into markets often moved faster than regulatory clarification, and innovation outpaced institutional structure. Today, that dynamic is shifting. As volumes increase and international capital pays closer attention to the region, governments and digital platforms are responding with clearer expectations.
The discussions around advertising restrictions, including the policies announced by Google starting in March 2026, are not isolated events. They reflect the fact that LATAM is no longer peripheral in the global digital ecosystem. When a market reaches a certain scale, oversight follows. Platforms seek verification standards. Governments look for strongerfiscal recovery mechanisms. Compliance becomes less optional and more foundational.
We are also seeing broader regulatory movement in Brazil, Peru, Colombia and Mexico. Each jurisdiction is evolving at its own pace, but the common thread is formalization. Theobjective is not necessarily to restrict the industry, but to define it more clearly.
For operators, this means that growth can no longer rely solely on speed or aggressive acquisition. It requires structure, internal clarity and long-term positioning. The marketremains dynamic, but it is becoming more demanding.
In that sense, LATAM is still expanding. It is simply doing so within a framework that is increasingly defined.
Mexico’s strategic role
Mexico is now considered one of the key entry points into the LATAM iGaming market, yet at the same time, the country is discussing additional limitations, including potential digital advertising time windows (6am–10pm), mandatory use of a .com.mx domain, and stricter responsible-gaming messaging requirements. Do these measures signal a broader regulatory direction the region may follow?
It is important to distinguish between discussion and implementation. Some of the measures being debated in Mexico, such as advertising time windows or domain requirements, remain proposals and would still require formal legislative approval. It is not certain that all of them will move forward in their current form.
That said, the direction of the conversation is meaningful. What I observe across LATAM is not a sudden restrictive impulse, but a stronger focus on fiscal recovery and operational clarity. As the industry grows and becomes more visible, governments naturally seek clearer mechanisms to identify operators, monitor advertising exposure and ensure tax compliance.
In Argentina, certain provinces have already tightened advertising parameters. In Brazil and Colombia, regulatory evolution has emphasized licensing structure and tax collectionframeworks. Mexico’s discussions seem to align with that broader tendency toward definition rather than prohibition.
These measures should not necessarily be interpreted as an attempt to reduce industry activity. In many cases, they reflect an effort to formalize it. When markets scale, ambiguity becomes harder to sustain.
For operators, the implication is not retreat but preparation. The more clearly defined the framework becomes, the more important it is to operate with transparency and long-termpositioning.
So rather than signaling a regional clampdown, these conversations may indicate that LATAM is moving into a phase where fiscal and structural parameters are more clearlyarticulated.
The hybrid iGaming model
In your recent article, you describe a growing convergence between land-based and online gaming in LATAM. What practical advantages does this hybrid model give operators compared to markets where digital dominates more independently?
In markets like Mexico, gaming permits were historically granted for land-based operations. Online gaming did not emerge as an independent vertical; it evolved as an extensionof existing physical licenses. That origin is important because it shapes the operational logic of the market.
The hybrid model is not simply a strategic trend. In many cases, it is structural.
For operators with established land-based presence, this creates a practical advantage. They already understand local player behavior, payment preferences and regulatoryexpectations. When they expand into online platforms, they are not entering unfamiliar territory; they are extending an ecosystem they already manage.
At the same time, this convergence introduces a strategic challenge. Online platforms offer convenience and immediacy, while physical venues provide experience and social interaction. The question is not whether one replaces the other, but how they coexist.
The real advantage of the hybrid model lies in integration. Operators can design loyalty systems, promotional mechanics and personalized journeys that move fluidly betweenchannels. A player who engages digitally can be invited into a physical experience, and vice versa.
However, this requires intention. If online becomes purely transactional, it risks weakening foot traffic. If it is underdeveloped, it risks irrelevance in a mobile-first environment.
In that sense, hybrid markets demand a more sophisticated balance. When managed strategically, they can extend player lifetime value and deepen engagement. Whenmanaged passively, they create internal competition.
That duality is what makes the hybrid model both an opportunity and a responsibility.
Evolving acquisition strategies
With acquisition costs rising and advertising restrictions increasing, are operators now forced to rely more on product, brand trust, and local partnerships rather than pure performance marketing?
Acquisition dynamics in LATAM are clearly evolving, but I would not frame it simply as operators being “forced” into change. Rather, the economics of growth are becoming more disciplined.
As advertising environments grow more regulated and customer acquisition costs rise, particularly in markets like Mexico and Brazil, aggressive performance marketing alone becomes less efficient. Margins tighten, and short-term traffic strategies become harder to sustain. This naturally shifts attention toward retention and brand credibility.
In LATAM, word-of-mouth still plays a meaningful role. Players pay close attention to reliability, especially regarding payouts, platform stability and customer service. Trust is notabstract here; it directly influences acquisition cost over time. A brand that consistently delivers reduces its need to overspend on traffic.
At the same time, local partnerships gain importance. Affiliates, land-based operators, payment providers and even media relationships help anchor credibility within the market. That local anchoring often matters more than pure digital reach.
Performance marketing is still part of the toolkit. However, it is no longer sufficient as a standalone strategy. Sustainable growth increasingly depends on product quality, operational consistency and the ability to maintain long-term player engagement.
In more mature phases of market development, reputation compounds. Paid clicks do not.
Major sporting events & player behavior
Major sporting events often leave their footprint. What impact do you expect the 2026 World Cup to have on player engagement and operator strategies in Mexico and across the wider region?
Major sporting events such as the FIFA World Cup 2026 will certainly generate a spike in engagement, but their true impact goes beyond volume. They create moments ofbehavioral expansion.
In Mexico and across LATAM, the tournament is likely to attract seasonal players and first-time participants who may not typically engage with betting platforms. This includes a growing segment of female audiences who participate in the broader cultural experience of the event, even if they have not previously interacted with gaming products.
The World Cup acts as a social catalyst. Conversations move into households, offices and digital communities. That creates a temporary widening of the player base.
However, this opportunity comes with operational demands. Platform stability becomes critical. During high-demand matches, even minor transmission failures or technical delayscan damage credibility quickly. The reputational risk is amplified because engagement is concentrated and highly visible.
Beyond infrastructure, the real opportunity lies in experience design. Operators that invest in education about new betting modalities, simplified onboarding and personalizedjourneys can transform seasonal interest into longer-term participation. Gamification elements and cross-channel integration, particularly for hybrid operators, can extendengagement beyond the tournament calendar.
Mexico’s role as a host nation adds another layer. The event will not be perceived as external; it will be lived locally. That cultural proximity increases emotional engagement, which can translate into higher interaction across digital platforms.
For operators and suppliers alike, the World Cup is not only a revenue moment. It is a positioning moment. Those who prepare strategically can convert attention into durable relationships. Those who treat it purely as a short-term spike may see engagement decline once the final whistle blows.
The LATAM iGaming event scene
Do events like this usually create only a short-term spike, or can they permanently change user behavior in emerging gaming markets?
Events like the FIFA World Cup 2026 almost always generate a short-term spike. That part is predictable. What is less predictable is how prepared operators are to capture thebehavioral shift that may follow.
In emerging markets, player habits are still evolving. Many users are experimenting with digital platforms for the first time, particularly during high-profile events. A well-designedfirst experience can lower psychological barriers and increase familiarity with betting mechanics.
Education plays a critical role here. When players understand how a new modality works, how to navigate live betting or how to personalize their experience, the interactionbecomes less intimidating and more engaging. Gamification and personalized features can also transform what begins as curiosity into routine.
However, permanence is not automatic. If the experience is purely transactional, with no added value beyond the match itself, engagement tends to recede once the event ends.
There is also an important shift to acknowledge: today’s player often consumes global digital products daily. Expectations around speed, interface quality and personalization are high. In some cases, user sophistication evolves faster than operational adaptation.
Events accelerate exposure. Sustained change depends on whether operators can maintain innovation and reliability beyond the tournament calendar.
You were also part of the AffPapa Conference Cancun last year. From your perspective, how have iGaming events in Latin America evolved over the past few years? Would you say LATAM now holds a solid place on the global iGaming events calendar?
Over the past few years, iGaming events in LATAM have evolved not only in scale, but in tone.
Previously, many conferences in the region felt exploratory. International companies attended primarily to assess opportunities, and the conversation was often centered onmarket entry. The region was being evaluated.
More recently, the tone has shifted. Events increasingly reflect greater regional confidence. Local operators, regulators and suppliers are participating more actively in shaping thediscussion, rather than simply responding to global narratives.
In that context, hosting an event like AffPapa in Cancún was a meaningful decision. Choosing Mexico signaled recognition of the market’s growing relevance. What stood outmost was not the size of the exhibition, but the quality and focus of several panel discussions. Some conversations moved beyond expansion rhetoric and addressed operationalrealities, compliance dynamics and strategic positioning within LATAM.
That shift in discussion depth is significant. It suggests a market that is organizing itself more seriously.
Another visible change is generational. A younger, more technologically fluent group of decision-makers is entering the space. This influences the themes addressed at events, from AI and payments infrastructure to regulatory alignment and long-term structuring.
Today, LATAM holds a consistent place on the global iGaming calendar. The region is no longer viewed only as emerging; it is increasingly regarded as competitive and strategically relevant.
What do you feel is still missing from the iGaming events scene in LATAM? Is there something you would personally like to see more of?
While LATAM events have grown in sophistication, I believe there is still room for greater operational depth.
Often, the same voices appear across panels, and while experience is valuable, the industry would benefit from hearing more directly from those who are actively managingoperations on the ground. Established operators, compliance leaders and technology teams who can speak candidly about real implementation challenges bring a different levelof insight.
I would particularly welcome more transparency from suppliers about the realities of entering LATAM markets. What assumptions did not translate? What operational adjustmentswere necessary? What cultural or regulatory nuances required rethinking initial strategies? Those conversations are often more educational than promotional presentations.
Another area that deserves more attention is structural localization. Speaking Spanish, or translating a presentation, is not the same as understanding the regulatory, fiscal and operational differences. Each jurisdiction functions differently, and events could reflect that complexity more explicitly.
As the region matures, I would like to see conferences move beyond market optimism and into deeper, experience-based dialogue. Networking will always be important, butintellectual rigor and honest reflection will ultimately strengthen the ecosystem.
Reflections on the market
And finally, looking back at your journey, what has surprised you most about how the LATAM market actually developed compared to expectations at the time?
Looking back, what has surprised me most is not simply the growth of the market, but the speed at which complexity emerged.
When I began, the challenge was adoption. The conversation centered on infrastructure, distribution and basic digital integration. Today, the environment shifts constantly. Regulatory updates, platform innovation, payment evolution and consumer expectations can change within months. The pace leaves very little room for complacency.
Another major surprise has been the evolution of the player. In earlier stages, operators were largely shaping expectations. Today, many users interact daily with global digital products and compare experiences instinctively. In some cases, the player is more technologically fluent than the operator. Expectations around personalization, speed and seamless interaction are high, and they continue to rise.
This dynamic makes it impossible to master everything at once. There are simply too many moving parts.
One of the most important lessons has been the need for internal clarity. Before adopting every new global innovation, operators must define what they truly need, what theiroperational capacity allows and what kind of player experience they want to build. Not every global trend translates effectively into local operational realities.
In fast-moving markets, ambition must be balanced with discipline. Sometimes moving steadily with clear focus is more sustainable than trying to implement every available tool.
LATAM did not simply grow. It accelerated into a more demanding and sophisticated environment. Navigating that evolution requires focus, adaptability, and long-term thinking.
Rosa’s reflections highlight just how dynamic the LATAM iGaming market has become. From blending land-based and online platforms to navigating evolving regulations and big events, her perspective reminds us that growth isn’t just about speed. It’s about thoughtful strategy and steady focus. The next chapter for iGaming in LATAM will reward those who combine ambition with discipline.
Latin America has rapidly transformed from an emerging opportunity into one of the hot regions in the global iGaming industry. With a population exceeding 670 million, rising...
