Latest News
Latin America – The New Frontier of iGaming
It’s been four years since Colombia became the first country in Latin America to establish a local licensing regime for online gaming, unlocking the potential of an entire continent. Since then, several countries in the region have followed suit while others are still exploring the possibility to regulate igaming.
As the trailblazer in the region, Colombia has done an excellent job of creating a market where licensed operators are allowed to thrive. Players have access to a wide product offering, including both sports betting and online casino games, and are safeguarded by sound player protection measures. The challenge for any regulated jurisdiction is to strike that balance between establishing attractive market conditions while introducing necessary regulatory measures that are not too stringent or cumbersome to scare away operators and content suppliers. It goes without saying that to have a well-regulated market, you need to appeal to operators targeting the country while offering players the products they desire in order to keep the black market to a minimum and ensure maximum protection of consumers.
Colombia’s success also lies in the approach of its gaming regulator, Coljuegos, to engage with industry stakeholders and respond to their concerns. A perfect example is its recent quick response to the challenges arising from the COVID-19 outbreak when the regulator introduced a series of measures to help steer the gaming industry through the crisis. No regulation is perfect, however, and in Colombia, the requirement for operators to store data locally has proved challenging. Nevertheless, the market’s legislation sets a benchmark for other countries in Latin America looking to regulate internet gambling.
Greentube entered the Colombian market in 2019 and we have been quick to gain market share, now partnering with four operators in the country and seeing great interest in our content. For Greentube, it has been a learning curve, having experience in multiple European markets, and entering a completely new region that differs in many ways. Most importantly for us, players in Colombia have a preference for table games and video bingo in addition to the traditional slot games which are popular in most European markets. The bulk of our content portfolio in Europe is based on our classic titles, known from land-based venues, and fruit games. Yet in Colombia, although iconic slots like Sizzling Hot deluxe, Lucky Lady’s Charm deluxe, and Apollo – God of the Sun are part of the favourites, other games like Royal Crown Roulette, Royal Crown Blackjack, and 1-2-3 Bingo are topping the list.
After making a strong entrance in Colombia, we were thrilled to also have launched in Paraguay this spring with local operator Il Palazzo. Being on the doorstep of Argentina and Brazil, the region’s two biggest economies, the market offers huge potential for growth both within the country and beyond its borders. Our land-based content has for many years proven successful with local players and so we expect our online adaptions will be equally popular. Paraguay is an important step in our South American strategy, and we are looking forward to expanding our business there as a means for further international growth.
Greentube is also keeping a close eye on the developments in several other countries in Latin America where discussions around regulating online casino gaming are taking place. Our next pending market entry is Mexico where we have struck a deal with the leading local operator. Greentube’s strategy is to operate only in regulated markets, which ensures we act in a legal and compliant matter but moreover, gives us an advantage when establishing new partnerships. As most major operators choose to be active only in legal markets, they prefer to cooperate with suppliers that also comply with the regulation. Equally important before entering any market is the growth potential; the strategic fit of our product and the availability of established distribution channels and platform providers. From our experience and based on the popularity of our games in the region’s land-based casino segments, we believe that Latin America has the potential to become one of our core regions and we continue to explore every opportunity with great excitement.
Written by: Markus Antl – Head of Sales and Key Account Management at Greentube
The Tennessee Sports Wagering Council through its executive director issued $50,000 in fines to Bovada.lv, an unlicensed and therefore illegal sportsbook operating in Tennessee.
Bovada failed to comply with cease and desist letters delivered to addresses in Curaçao, and Council investigators placed wagers through Bovada’s platform on three separate occasions, including as recently as October 16, 2024.
The Sports Gaming Act authorizes the Council to impose a $10,000 fine for the first offense of accepting wagers without a license, which rises to $15,000 for the second offense, and $25,000 for the third offense. Subsequent offenses may lead to the imposition of a $25,000 fine for each occurrence, an occurrence being a single wager accepted in Tennessee.
In the cease and desist letters, the Council ordered Bovada to allow all Tennessee users to withdraw any funds currently held by the unlicensed sportsbook.
“The Sports Wagering Council recommends that Tennessee users of Bovada withdraw their funds immediately. Our primary role is the protection of the public interest through a safe, regulated environment, and Tennessee sports bettors need to know that just because they can access a sports betting website or app inside Tennessee’s borders does not mean it is licensed to do business here,” Mary Beth Thomas, Executive Director of Tennessee Sports Wagering Council, said.
Legal sportsbook operators provide important bettor protections not found in the illegal market. If an individual wagers with unlicensed sportsbooks, their sensitive financial and personal information may not be protected and could even be shared with criminal enterprises. The bettor’s money could be withheld or disappear without a way to recover it.
The SWC is working closely with its network of law enforcement at the state and federal level to eradicate illegal sportsbooks such as Bovada and others.
Tennessee is the largest “online-only” sports betting market in the US, with more than $4.7 billion wagered in Tennessee last fiscal year through online sportsbooks licensed by the Council.
The hottest new game from Aristocrat Gaming, Phoenix Link, is now live on casino floors, with Yaamava’ Resort & Casino being the first in North America to offer the highly-anticipated game. As the next evolution of the international hit game, Dragon Link, Phoenix Link features player-favorite mechanics from top games with all-new themes, features, and bonuses.
“We have been humbled by the incredible global fanfare Dragon Link has received over the years but are never ones to rest on our laurels. The teams have been working tirelessly on a follow-up that brings together all the player-favorite elements in a new and exciting way with Phoenix Link as the proud result. We were thrilled to partner with Yaamava’ to premiere Phoenix Link with flair, excitement, and celebration,” said Victor Duarte, executive vice president of product for Aristocrat Gaming.
Phoenix Link players will enjoy the game’s additional denominations, configurations, and jackpots on each of the launch game theme titles. Gameplay features include Hold & Spin, Free Games with multiplier wilds or twin spin reels, Phoenix Mystery trigger, and more new bonus twists. Phoenix Link is available on the Neptune Single cabinet.
“Yaamava’ is thrilled to host yet another world premiere in gaming with the launch of Phoenix Link by Aristocrat Gaming. Our Club Serrano members are already raving about this captivating extension of the player-favorite Dragon Link. It’s a great addition to the Yaamava’ gaming floor,” said Kenji Hall, General Manager of Yaamava’ Resort & Casino at San Manuel, said.
On November 6, the iGaming industry in Mexico is preparing for a key event in which the benefits and challenges that regulation has brought to the Mexican market will be discussed. Under the title “Benefits of Regulation in the Mexican Market”, this panel will offer an in-depth look at the impact of regulation on transparency, competition and consumer protection, critical issues in the new digital era of iGaming.
The event, moderated by Geraldine Alexandra García Torres, Media Manager of Digital Gaming News, will feature the participation of recognized figures in the sector such as Daniel Magariños, representative of BMM Testlabs, and Hermilo Peregrina Cabrera of Prometeo IT Solutions. Both panelists will contribute their extensive knowledge and experience in regulation and certification in the Mexican market, and will analyze with the public the challenges and opportunities that companies face in an increasingly competitive and regulated context.
BMM Testlabs, who will participate as a Gold Sponsor, underlines with its sponsorship the importance of regulation to strengthen the iGaming sector in Mexico and demonstrates its commitment to progress and transparency in the Mexican market. For its part, Kushki joins as a Silver Sponsor, promoting the dialogue and analysis necessary for the industry.
Daniel Magariños, from BMM Testlabs, expressed his enthusiasm for participating in this digital webinar: “It has been a pleasure to be able to share our comments as a Laboratory on a market like the Mexican one and exchange opinions with a reference like Hermilo and the company Prometeo IT Solutions, with its excellent track record in this market. A relaxed talk with a lot of learning that I hope will be interesting for the attendees.”
For his part, Hermilo Peregrina, from Prometeo IT Solutions, highlighted the relevance of these spaces for dialogue: “Thank you to Conferencias iGaming for the invitation to participate in this panel. Thanks to Geraldine for coordinating us, and it was a pleasure to share ideas and opinions with my friend Daniel from BMM Testlabs, who has extensive experience in international regulations and certifications.”
Sponsor Support
The panel has the support of important sponsors who recognize the relevance of regulation in the development of the iGaming market in Mexico. Among them, BMM Testlabs as Gold Sponsor, and Kushki as Silver Sponsor.
Event Details:
Date: November 6
Time: 10:00 a.m. (Mexico)
Registration: Register here
Don’t miss the opportunity to be part of this essential conversation for the future of the industry. Secure your place and access a key analysis on the dynamic iGaming market in Mexico!
-
Latest News5 days agoLeading Brazilian Lottery Operator Grupo da Sorte Selects Optimove as CRM Marketing Solution to Accelerate Growth through Personalized Journey Orchestration
-
Latest News4 days agoBetRivers Introduces PropPacks, an Innovative Feature for the NBA Season
-
Latest News3 days agoProntoPaga Transforms its Operating Model in Brazil to Ensure Risk-Free Transactions
-
Compliance Updates3 days agoBrazilian Ministry of Finance and IBIA sign sports betting integrity agreement
-
Latest News2 days agoCarnival Corporation & PLC Fleet Go “All-In” With Galaxy Gaming’s Galaxy Table Games Progressives
-
Latest News2 days agoBrazilian Ministry of Finance and Sportradar Join Forces to Strengthen Integrity of Sports
-
Gambling in the USA1 day agoPhoenix Link by Aristocrat Gaming Now Lighting Up Casino Floors
-
Latest News1 day agoPanel on the benefits of regulation in the Mexican iGaming market