Alessandro Fried, chairman of BtoBet, has aired his thoughts on the best way to approach the LatAm gaming market in the firm’s latest regional report titled LatAm: A Sportsbook Opportunity Characterized by Diversity.
Setting the scene, he noted: “Let’s start by saying that with a population of more than half a billion people combined, it should come as no surprise that the LatAm igaming scenario is set to be the next focal point of activity for the whole industry. International operators are keen to diversify their activities away from the European market which is becoming ever more of a financial burden to operate in.”
According to Fried, population numbers are not the sole element that is attracting interest in the region. “What I consider to be the game-changer is the regulatory aspect that is set to take the whole region by stride,” he said. “So essentially success for any igaming operation in the region relies heavily on a strong understanding of the player preferences, a deep knowledge of the different priorities that constitute the players from the different territories in the region in terms of the sports they focus on and the betting markets that they favor.”
But this, Fried cautioned, amounts to nothing without proper information regarding the dynamic regulatory environment that characterizes the region, and which has transformed the whole region into such an interesting scenario for operators. “It is with this context in mind that operators must assess the options in front of them and team up with the right technological partner to supply them with a platform that not only meets all the jurisdictional requirements, but that will also help them harness the element of diversity that characterizes the region in terms of player preferences,” he advised.
The BtoBet boss was also keen to stress avoidance of adopting a one-size-fits-all approach to the region, describing it as “simply not an option”. “If one were to contrast the sports preferences in Mexico and Brazil, the results can’t be anymore contrasting than they are,” he said. “Whereas in Mexico there is a big interest in the American sports scene, the Brazilian scene is totally different, with football and other local sports generating the greater interests.
Be it beach volley, swimming, or local football, the interest of local sports in Brazil is huge. Thus it is obvious that operators must take into consideration these varying aspects on a regional level. A successful approach in Mexico could well be unsuccessful in Brazil.”
Fried believes that LatAm has everything necessary in order to attract big interest, but added: “However it is now up to the operators themselves to ensure that they harness this potential and transform it into a successful story. The regulatory aspect is only one piece of the puzzle. A deep knowledge of the diversity that constitutes the region is a must. It is only once all this is in place that operators can truly start focusing on expanding their activities in the region.”
