“Big ambitions” for the Mexican sports betting market
As the spokesman for 1xBet México, Pablo Estremadoiro, announced, the company has great ambitions in Mexico.
“We are very excited to start working in such a strong and passionate market. We are confident that 1xBet will be a great resource for Mexican sports fans. This country has an incredible football culture, aside from other popular sports. The way the fans support their teams is spectacular and we expect a lot from this market. ”
Local partner in Mexico is the sports betting provider Expectáculos Deportivos de Occidente, which received a betting license for retail in 1994. This initially ran for 25 years and was extended from 2018 to 2034.
In Mexico, gambling is legal based on the Ley Federal de Juegos y Sorteos (page in Spanish), the federal law on games and raffles. The law was renewed in 2004, but there is currently no explicit regulation of online gambling. Online providers therefore operate on the Mexican market with a permit issued in Mexico, but also providers that are licensed in other countries and are currently neither considered legal nor illegal in Mexico.
Online betting on around 70 sports
1xBet initially wanted to focus primarily on e-sports and online sports betting. The sports of football and boxing should be particularly in focus. However, online betting should be possible on a total of around 70 sports.
Mexico is one of the largest countries in Latin America and thus gives the Cyprus-based company the opportunity to expand further within the Latin American market.
It is planned not only to expand online sports betting in Mexico, but the company is currently also working on a “physical” presence. In addition, 1xBet is currently analyzing the possibilities of concluding sponsorship contracts with some sizes from the Mexican sports sector and thus expanding the company’s media presence.