Latin America
New report into LATAM’s US$5BN betting industry shows massive growth potential and diversity across nations
* Market study by Sherlock Communications of Latin America’s six main economies finds Brazilians and Peruvians bet more than anyone else
* Understanding the legislation and landscapes of each individual country is key to bookmakers successfully operating in the region
* Free bets will attract new customers regardless of the market, but selecting brand ambassadors is not so simple as different countries prefer different profiles
The COVID-19 pandemic has led to the Latin American gambling industry undergoing widespread changes as betting companies migrate online and casinos are forced to close their doors. Now, a new market report into the perspectives and betting practices of the region’s population sheds new light on the present and future growth of an industry already estimated to be worth close to US$5 billion in LATAM.
Published by Sherlock Communications, A Big Bet: The Latin American Betting Market on the Rise studies the region’s six main economies — Argentina, Brazil, Chile, Colombia, Mexico and Peru — and includes a survey of more than 3,000 residents carried out in partnership with Toluna.
While one in four respondents said they have never placed a bet, close to 39 percent of respondents have done so “a few times” and in Brazil and Peru, 18 percent said they bet more than once a week. The report makes clear each country must be analysed within its own context: For example, Brazilians gamble more than any other nationality yet some 20 percent of them — twice as many as Chile and four times as many as Mexico — believe gambling should be illegal in their country.
“Our report shows the need – and indeed desire – for clear and concise regulations,” said Patrick O’Neill, managing partner of Sherlock Communications. “Countries where betting is unregulated is less attractive to international companies as well as more dangerous for customers”.
The report found that when it comes to selecting an ambassador to help attract potential customers, the criteria varies from market to market. A professional player is preferred in Colombia and Brazil, while respondents in Argentina, Chile, Mexico, and Peru believe a TV host would better boost the profile of the bookmaker. More than one in five of all respondents believe a footballer is an effective ambassador, yet even then there are differences as Colombians, for instance, said success is more likely when using a local hero whereas in Peru an international star is preferred.
Latin Americans, however, are in agreement when it comes to what would help make them decide which betting company to use. Some 62 percent of all respondents cited free bets and special offers as the main reason to choose a bookmaker. Only in Colombia was a simple payment system prioritised (60%) over enticing promotions (58%). An easily navigable, mobile-friendly website is another important criteria, as is local language support.
When it comes to casinos, Brazil is the only country among those surveyed where physical establishments are not allowed, although approval and legislation is pending. Brazilian respondents believe, if passed, it could help the economy grow (30%), attract more tourists and money (43%), and generate jobs (40%). There are, however, concerns too: Close to 30% of all those surveyed in the region believe a casino can increase addiction to gambling and even drinking. In Brazil, 23 percent of respondents also believe it could lead to an increase in money laundering.
“The Brazilian government has before it the opportunity to recognize gambling as an economic activity, like 80% of the countries that make up the UN. We argue that the country has the potential for a diversified package of games, in particular we believe in the primary insertion of the urban casinos model that allows capillarity and widespread investments in the various municipalities with a tourist vocation that are spread across the country, representing opportunities for investors in Brazil of the world “, said Olavo Sales da Silveira, Chairman of the Board of ABRABINCS – Brazilian Association of Bingo, Casinos and Similars.
SYNOT Games announced that 140 of its top-tier games have been officially certified for the Argentinian market.
The certifications, issued by Gaming Labs International mark a significant step in SYNOT Games’ commitment to delivering high-quality, compliant, and entertaining products to the Latin American market.
In addition to the 140 games, the certifications include the renowned SYNOT Progressive Bonus and advanced Random Number Generator technology, providing operators and players with a superior and trustworthy gaming experience.
SYNOT Games is committed to certifying its entire game portfolio for the Argentinian district shortly. This will further solidify the company’s presence in the rapidly growing Latin American market and reaffirm its position as a trusted partner for local and global operators.
Martina Krajci, CCO at SYNOT Games, said: “We are delighted to achieve these certifications and bring our innovative products to Argentina. This is an important milestone in our global expansion strategy, and we look forward to offering our Argentinian partners and players access to our certified games, backed by industry-leading technology and robust compliance standards.”
Vibra Group, the ‘go-to’ content and platform developer for the LatAm region, has acquired TSA, a Brazil-based technology company and one of its longest standing development partners.
The acquisition will further strengthen the award-winning company and accelerate its growth plans with 55 specialist platform development experts based in Northern Brazil.
TSA and Vibra Group have been long-term partners with TSA contributing significantly to Vibra’s technological growth. TSA, which operates under the ServiceNet brand name, also has existing contracts with several Brazilian lotteries including Loteria do Tocantins, Loteria do Maranhao, Loteria de Sergipe and Loteria da Paraíba.
The integration of TSA’s expert teams will immediately enhance Vibra’s platform development roadmap with additional resources dedicated to the Vibra Solutions business unit and will consolidate the Vibra Group’s structure across the LatAm region. The LatAm-based team is focused on game studios, Remote Gaming Server (RGS), and Electronic Gaming Machines (EGM). The Brazil-based team specialising in Player Account Management (PAM) and sportsbook solutions.
Vibra’s product strategy is to service every client need delivering a complete solution on three core areas: sportsbook and casino platform with multiple levels of customization and flexibility; content aggregation platform including proprietary titles and third party games from the main brands in the industry; and a state-of-the-art EGM platform allowing operators to distribute products and content through VLT / retail terminals. The group’s 3 business divisions: Vibra Gaming, Vibra Solutions and Vibra VLT / Retail.
Ramiro Atucha, CEO, Vibra Group, said: “We’re delighted to close the acquisition of TSA and welcome the team to the Vibra family. TSA are one of our closest and most trusted partners with whom we’ve closely collaborated across several significant projects as well as ongoing development work, therefore joining forces makes perfect strategic sense.
“Our expansion and first M&A deal follows significant customer demand and growth across the LatAm region in the last 12 to 18 months so the timing is ideal. We’re very excited to have the TSA team join us as we continue our journey.”
Werter Luna, CEO, TSA, said: “We’re thrilled with the outcome of joining Ramiro and the Vibra team after having worked together for so long. The synergies were very clear and both companies know we are stronger together. The future is very bright and we’re ready to go on the ambitious plans we have to significantly grow our business.”
BETBY, the innovative sports betting supplier, has announced its participation in two of the most prominent industry events in Latin America: SBC Rio and SiGMA Americas. Both exhibitions are set to take place in Brazil, where BETBY will showcase its cutting-edge sportsbook solution and strengthen its presence in the region.
During both expos, which provide an exceptional opportunity to connect with local partners, global stakeholders, and prospective clients, BETBY will present its unique sportsbook technology and its extensive range of products. This includes the provider’s proprietary esports feed, BETBY Games, and its comprehensive suite of AI sportsbook tools, AI Labs. Among BETBY’s latest features is its industry-first AI-powered feed, enabling the creation of odds for entertainment markets. Further product launches are anticipated ahead of the events.
Chris Nikolopoulos, Chief Commercial Officer at BETBY, commented: “SBC Rio and SiGMA Americas represent two significant opportunities for us to showcase our unique sportsbook solution and engage with industry leaders from across Latin America. Brazil is a key region for us, and with exciting developments in our roadmap, we are eager to connect with partners, discuss innovations, and explore new collaborations.”
He further added: “These events are the perfect platform for BETBY to demonstrate our commitment to delivering forward-thinking, high-performance products to the market, and we look forward to the energy and networking opportunities they will bring.”
At SBC Rio, hosted in Rio de Janeiro from February 25th to 27th, BETBY’s team will welcome delegates at Stand B730 whilst in SiGMA Americas, held in São Paulo from April 7th to 10th, visitors can find the supplier’s team of sportsbook experts at Stand G140.
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