The sorry state of Mexico’s banking and telecom industries is holding back the country’s online gambling market, according to a leading market participant.

This week, Mexican financial news outlet El Financiero quoted Fernanda Sainz, managing director of online gambling operator Caliente Interactive, saying that attempts to “demystify” online gambling for Mexican punters are being hindered by their relative unfamiliarity with the product.

Speaking at this week’s inaugural Gaming Industry National Convention in Mexico City, Sainz bemoaned the fact that “less than half” of Mexicans with internet access also have access to a bank card.

Compounding matters, tech-savvy Mexicans often choose to bet with internationally licensed operators rather than the comparatively few gambling sites that have so far obtained local approval. Jorge Vélez, sports betting director for Spanish operator Codere’s Latin American business, said Mexican-licensed operators are forced to spend up to half their revenue on marketing just to get local punters’ attention.