Ecuador's online gambling market expands by 26% in 2024
The entertainment sector in Ecuador, which includes sports betting and online gambling, emerged as the fastest-growing industry in 2024, according to a report by Primicias. The sector’s growth was driven by increased ticket sales for stadium events and concerts during the third quarter of 2024. While sports betting sales have been on the rise, not all of these revenues are categorized under entertainment, masking the true scale of the industry’s expansion.
The Central Bank of Ecuador (BCE) reported that the entertainment sector grew by 3.7% between July and September 2024, outperforming other key industries such as fishing and aquaculture, real estate, agriculture, hospitality, and food manufacturing. The remaining 14 sectors analyzed in the report showed negative performance during the same period.
The sector contributed $1 billion to Ecuador’s GDP, representing 1% of the economy. A significant portion of this came from sports-related activities, particularly football. Industry experts suggest these figures underrepresent the actual market size, as many sports betting companies register under different business categories.
The strongest growth came from online gambling and sports betting, which saw a 26% increase in sales compared to 2023. The largest companies in Ecuador's sports betting landscape according to SRI's registry are Ecuabet, Betcris, and Sportbet, with Ecuabet leading the market with reported revenues of USD 13.55 million in 2023.
Share
-
Angola’s ISJ unveils new directive to bo...The Gaming Supervision Institute (ISJ) o...June 23, 2025
-
SOFTSWISS takes home four awards In one...SOFTSWISS, a global provider of iGaming ...June 23, 2025
-
Gamzix turns up the heat with Yummy Dump...The Maltese game provider Gamzix has off...June 23, 2025