- January 18, 2025
GUYANA GAMBLING THE iGAMING MARKET IN LATIN AMERICA
TC Gaming White Label editor is introducing a unique iGaming market today—Guyana. Many people might not be familiar with this country or even know of its existence. Yes, Guyana is a very small country, but its economic development is catching up with Saudi Arabia at an impressive pace. While it took Saudi Arabia 50 years to achieve its current per capita income, Guyana has done it in less than 19 years. In South America, Guyana can be considered a financial powerhouse on the rise. Let's discuss the South American gambling market—Guyana—together with all the industry leaders.
Guyana Overview:
On the map of South America, Guyana might not seem particularly striking. However, its vast tropical rainforests, breathtaking Kaieteur Falls, abundant mineral resources, and rapidly expanding oil industry have turned it into a focal point of international attention. With fast-paced economic growth and increasingly open policies, Guyana is becoming an emerging economic powerhouse in South America. Industries such as agriculture, mining, tourism, and gambling all hold tremendous opportunities and potential here.
Additionally, Guyana is a member of several prominent Latin American and Caribbean organizations, such as the Caribbean Community (CARICOM) and the Union of South American Nations (UNASUR), enhancing its regional influence.
Guyana’s Geography
Guyana has a land area of approximately 215,000 square kilometers, making it relatively small among South American countries. Located in the northeastern part of South America, Guyana's geographic proximity to Latin American countries often categorizes it within the "Latin America region." Guyana shares borders with Suriname to the east, Venezuela to the west, and Brazil to the south. Its capital, Georgetown, is the political, economic, and cultural center of the country. Situated along the Atlantic coast, it benefits from a strategic port location, serving as an important transportation hub. The coastal region is the primary area for population concentration and economic activities.

What Language is Spoken in Guyana?
The official language of Guyana is English. Guyana is the only country in South America that uses English as its official language. Unlike most countries in Latin America, which use Spanish. Because Guyana was once a British colony and did not become independent until 1966. Because its culture was influenced by British colonization, it is not a traditional Latin culture. But there are other languages, most of which are local languages and dialects used by different ethnic groups. For exampleGuyanese Creole: A mixture of English, African, Dutch and Indian cultural elements, it is the daily language of most Guyanese. Hindustani (Bhojpuri): There are some Indian residents in Guyana, so Indian languages are more common in the Indian community. Indigenous languages: Still used by some indigenous groups.
Guyanese Creole: A mixture of English, African, Dutch and Indian cultural elements, it is the daily language of most Guyanese. Hindustani (Bhojpuri): There are some Indian residents in Guyana, so Indian languages are more common in the Indian community Aboriginal languages: Still spoken among some Aboriginal groups
Guyana's Religious and Cultural Diversity
Guyana is a religiously diverse nation with many celebrations and holidays reflecting this diversity. Festivals such as Easter and Christmas (Christian), Diwali and Holi (Hindu), Eid al-Fitr and Eid al-Adha (Muslim) are widely observed.Roman Catholicism: There are fewer believers, mainly concentrated in coastal areas.
Hinduism (about 25%): Mainly believed by Indian residents, its festivals such as Diwali are very popular in Guyana.
Islam (about 7%): believers are mainly descendants of early Indian immigrants, most of whom believe in Sunni Islam. Other religions: including traditional African religions, Baha'i, and a small number of non-believers.
How is Guyana's Economy?
Guyana's economy has been booming, driven by two key sectors: oil and gold. While agriculture, forestry, and tourism remain significant, these two industries have been transformative. The country has seen a remarkable increase in GDP per capita, jumping from just $1,085 in 2015 to $20,602 in 2023. Notably, between 2020 and 2023, GDP per capita skyrocketed from $6,863 to $20,602, more than tripling in just three years. This rapid economic growth is rare globally and one of the reasons TC-Gaming White Label has turned its attention to the Guyanese gambling market.
Guyana’s Population and Internet Landscape
Population in Guyana
- 0–4 years: 9.6%
- 5–12 years: 15.1%
- 13–17 years: 9.1%
- 18–24 years: 12.4%
- 25–34 years: 16.7%
- 35–44 years: 11.6%
- 45–54 years: 10.7%
- 55–64 years: 8.3%
- 65 years and older: 6.6%
Internet Landscape in Guyana
Guyana's internet development is impressive! As of January 2024, the country had 696,900 internet users, accounting for 85.3% of the total population. There were 686,900 cellular mobile connections, equivalent to 84.1% of the population. Essentially, almost everyone has a mobile phone, with some individuals owning more than one! From January 2023 to January 2024, Guyana saw an increase of 5,042 internet users, reflecting steady growth at a rate of 0.7%.Facebook:Facebook remains the most popular platform, with 493,100 users and an ad reach rate of 60.4%.<
Instagram follows closely behind with 165,400 users and an ad reach rate of 20.3%.
Facebook Messenger has 364,500 users, covering 52.3% of internet users.
LinkedIn is also holding its ground with 140,000 members, covering 17.1% of the total population.
X (formerly Twitter) has relatively fewer users, with 43,900 users, covering 5.4% of the total population.
The Current State of Gambling in Guyana
As an emerging economic star in South America, Guyana also shows significant potential in the gambling industry. While Guyana's gambling market is not yet comparable in scale to major Latin American countries like Brazil and Colombia, its growing economy and accelerating internet penetration make it a market worth watching.Legality and Regulation of Gambling
Factors Driving the Growth of Guyana's Gambling Industry
Popular E-Wallets in Guyana
- PayPal: Widely used in Guyana, particularly among freelancers and for cross-border payments.
- Skrill: Supports multi-currency transactions and is popular for iGaming platforms and cross-border payments.
- Neteller: Similar to Skrill, often used for gambling payments and provides virtual card services.
- Wise (formerly TransferWise): Specializes in cross-border remittances and international payments with low fees and multi-currency support.
Cryptocurrency Wallets
Guyana’s cryptocurrency market is growing, and some residents have started using cryptocurrencies for payments and investments:
- Coinbase Wallet: Offers cryptocurrency trading and storage, supporting major coins like Bitcoin and Ethereum.
- Binance Wallet: A professional cryptocurrency platform with a wider selection of coins.
- Trust Wallet: Supports various digital assets.
- Republic Bank's Online Banking: Provides basic account management and online payment options.
- GTT Mobile Money (MMG+): A mobile payment service from Guyana’s telecom provider, enabling local payments, transfers, bill payments, and mobile top-ups.
- Visa/Mastercard: Can be linked to e-wallets or used directly for payments.
- Western Union Digital: A widely used payment method in Guyana.
Summary
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