Latin America
Big game player: Betinvest engage lucrative LATAM sports betting market
After scouting out a whole host of opportunities on the rise in South America Betinvest’s VP of Business Development Valentyn Kyrylenko explained that the solutions provider is catering its products to the specific requirements of the LATAM market.
In recent weeks you’ve attended both Juegos Miami and LIMA in Peru, what makes Latin America and the Caribbean so exciting for you at this time?
Yes, we’ve attended a lot of industry events recently. We also exhibited at the Brazilian Gaming Congress, which took place shortly after the Peru Gaming Show in June, and we visited FADJA in Colombia earlier in the year. We’ve gathered a lot of useful information about the key features of the market at panel discussions and through face-to-face communication with local businesses and regulators. We firmly believe that there’s a huge potential for the gambling industry in Latin American countries and that their governments have taken a positive step in regulating it. As a leading provider of sports betting solutions, we’re obliged to keep abreast of and be active in the places and markets where the industry needs to be driven. That’s why the LATAM region is not the only region we’ve got our eyes on, although it is a very important one. The market is huge and it has limitless potential for companies in the iGaming sector. It’s only going to get bigger, better and more lucrative in the years to come, and that’s good news all around. Sport is an important part of LATAM culture; people love to watch sports, and to cheer on and support their favourite teams by placing bets. At the moment, locals don’t have particularly good or relevant industry experience so they need high-level sports betting products and must learn how to work with them. This is one of the upcoming tasks for European providers. In fact, if estimates are to be believed, Latin America could be more lucrative than all the regulated gambling markets in the United States for the foreseeable future.
Could you give an indication of the scale of Betinvest’s initiatives in the region at this time?
We’re still researching and exploring this region. We decided to visit these countries ourselves to participate in the biggest events, to network with partners, local operators and regulators, and to get industry insights. In accordance with the knowledge we now possess, we can tailor our plan for entering this market as a sports betting supplier and start new projects with our LATAM partners, but it’s going to take time. Long term, we plan to open a Betinvest office in Brazil, the largest South American country, and continue to provide our products and solutions to local operators who’ll be able to operate legally under the new legislation. In our opinion, Brazil is an excellent point of entry into the whole region.
When measuring players habits and regulatory red-tape, how different is it to working within Europe and do you feel you’re still having to make a name for yourself in this emerging market?
People in this region live and breathe sport and, what’s more, they love to bet. You can see this on the streets where almost everyone watches football matches on their mobile phones and glances through windows into houses where there’s a match showing on TV. They’re obsessed with sport, especially football. It’s the favourite sport of almost all the men and roughly 50 percent of the women (these figures are not based on official statistics). If we look at the behaviour of Latin American players, we can see that people usually place bets with small stakes of around $5-10. It would be very unusual to see a stake as big as $1,000. We can see that their gaming style is quite different to that of European bettors and generally less advanced. Taking Peru as an example, having just a few markets and only around 4,000 events is sufficient. Another important point is that local players are more likely to trust you as an operator if you have physical betting shops as well as online services. This is not due to the quality of the internet connection – it’s perfectly stable and having a mobile application is vital for every operator in order to meet their customers’ needs. The reason is simply that people have more confidence in a company when they’re used to seeing it in their local area. On average, the audience for gambling in Europe is younger than it is in South America. Some sports, including those that have a huge following in Europe, are practically non-existent in the LATAM region. Many will be surprised to hear about the passion for lotteries, as well as the rise in search traffic for sites that focus on games of chance. Regulators are very open and it’s easy to find all the necessary information. Making a name for yourself is an important step when you enter any new market. It’s something we do every time we exhibit or visit industry events and promote our sports betting products. We expect this market to show impressive growth. We’re ready to invest in it and to help the region to develop experienced players and reliable operators.
With such an engaged player base in the region, how are you adapting your business model to ensure your pricing and infrastructure is both profitable and sustainable?
We plan to open a Betinvest office in this region and to supply our time-tested sports betting products and solutions. Our products are 100 percent compliant with LATAM market requirements. We’ll be reconsidering our pricing for this region, since the offers we have for our European partners won’t suit those in the LATAM market very well. They don’t need as many events or markets in their Sportsbook, which means that we can reduce the price for them. We’re also working on creating some special offers for our partners in Latin American countries.
EvenBet Gaming has announced the launch of its advanced poker solutions in partnership with JugaMax, one of the largest and most respected casino operators in Paraguay. This strategic collaboration marks EvenBet’s debut in the Paraguayan iGaming market, solidifying the company’s expansion within Latin America.
The newly established partnership enables the integration of EvenBet Gaming’s poker offering on the JugaMax platform. Players will now have access to an engaging range of cash games, Sit & Go and Spins tournaments, providing opportunities for both novice and seasoned poker enthusiasts.
The collaboration with JugaMax comes at a pivotal time for the Paraguayan iGaming market, which has witnessed significant growth due to recent regulatory advancements and increasing player demand. In 2023, online casino revenues in the country rose by 14.2%, surpassing USD 23 million, with an average annual revenue per user (ARPU) of over USD 1500. Market projections indicate nearly 30% growth over the next three years, highlighting substantial opportunities for operators and suppliers.
By joining forces, EvenBet Gaming and JugaMax are poised to leverage this growth trajectory and cater to the evolving preferences of the region’s player base. This partnership not only broadens EvenBet’s presence in the Latin American market but also enriches JugaMax’s portfolio with cutting-edge poker solutions.
Manuel Jiménez, Head of LatAm Sales at EvenBet Gaming, said: “We are thrilled to partner with JugaMax and bring our innovative poker solutions to the burgeoning Paraguayan market. With JugaMax’s reputation as a leading operator, coupled with our advanced gaming technology, we are confident that this partnership will transform the online poker landscape in the country and expand our footprint in Latin America.”
Pablo Bergesio, President of JugaMax,said: “The integration of EvenBet’s poker solutions significantly enriches our offering, helping us to attract a wider audience of poker players across Latin America who appreciate exciting and innovative content. With the iGaming market in Paraguay showing promising growth, the partnership is set to play a significant role in our future success in the region, solidifying our position as a leading operator.”
This collaboration underscores EvenBet Gaming’s commitment to delivering exceptional gaming solutions and reinforces its position as a leading provider in the Latin American market.
Atlaslive, a leading B2B provider of iGaming solutions, proudly announces its recognition as the Silver Winner in the “Rising Star in Sports Betting” category at the SBC Awards Latinoamérica 2024. This recognition confirms Atlaslive’s commitment to excellence and innovation in sports betting, underscoring the impact of its advanced Sportsbook technology on operators worldwide.
The event, held in Miami, recognized companies and professionals at the forefront of the iGaming and sports betting sectors across Latin America. With this award, Atlaslive reinforces its reputation as a trusted partner for operators, driven by a dedication to delivering exceptional, scalable solutions for today’s competitive iGaming landscape.
Lidiia Vakulenko, COO of Atlaslive, expressed her gratitude: “This award is a testament to our team’s dedication to crafting live technology that transforms the betting experience. We are honored by the industry’s recognition of our efforts to push the boundaries of innovation in sports betting. Atlaslive remains committed to empowering operators with top-tier tools and delivering unparalleled value to players worldwide.”
Atlaslive’s Sportsbook continues to set the standard in sports betting technology. With seamless API integration, advanced customization, a robust bonus engine, real-time data analytics, state-of-the-art risk management, and engaging features like Bet Builder, the Atlaslive Sportsbook is designed to drive user engagement, boost retention, and fuel growth for operators. Each feature aligns with Atlaslive’s mission to provide an unmatched betting experience, equipping operators to meet the needs of an evolving, global player base.
Atlaslive – the tech behind the game.
About Atlaslive
Atlaslive, formerly known as Atlas-IAC, is a B2B software development company. The company specializes in creating a multifunctional and automated platform to optimize the workflow of sports betting and casino operators. Key components of the Atlaslive Platform include Sportsbook, Casino, Risk Management and Anti-Fraud Tools, CRM, Bonus Engine, Business Analytics, Payment Systems, and Retail Module. Follow the company on LinkedIn to stay updated with the latest news in iGaming technology. Let’s discover how far iGaming tech can evolve.
Stake’s Diana Margarita Otalora has been crowned Leader of the Year at the 2024 SBC’s Latinoamerica awards.
The October award win was the perfect way to mark the one-year anniversary of Stake’s operation in Colombia, which has led the operator’s ambitious expansion plans in Latam.
The victory for Diana, who is GM for Latam as well as the operator’s Colombia country manager, is proof that Stake’s strategy to hire the best talent available in each territory is paying off.
Diana’s team was recently strengthened by the addition of Peruvian country manager Jennyfer Escobar, who helped to secure Stake’s licence in Peru as a result of the operator’s progressive recruitment policy.
“At Stake, we want to appoint the best people for the role. Our ambition is nothing less than to become a leading player in the Latin American sports betting market.” said Otalora.
“It has been rewarding to find those attributes in my fellow Latina leaders, who are pulling together to propel Stake forwards in Latam’s emerging regulated markets.
“We work hard every day to ensure that gambling in our home countries is both exciting and safe for players, who have come to expect nothing less from Stake over the years.”
In order to complete the Colombian launch, Diana managed the merging of two teams following Stake’s acquisition of Betfair Colombia, delivering continuity and harmony during what might otherwise have been a challenging integration.
Diana has successfully grown the Stake Latm team to more than 35 employees and is continuing to grow.
More internal growth is on the cards as the operator looks to build on Colombia by entering Peru and Brazil, among others in the region.
Luisa Muñoz, Head of Operations, Latam for Stake, said: “Under Diana’s leadership, we have launched one of the largest gaming companies in the world in the Colombian market and are now expanding our horizons to all of Latam.
“Working with Diana, I have grown both professionally and personally: professionally, by being able to evolve my role in the organisation from managing the Customer Experience processes to now leading the operation for Latam. Personally, she has guided me, trusted me, empowered me and has opened the way for me to contribute value to the company on a daily basis.
“This is what true leaders do.”
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