Latin America
NSoft: Exploring growth opportunities on Colombia’s iGaming market
- One of the upper echelon LatAm countries to bet on sports should be on every sports betting and gaming suppliers’ radar
- Land-based casinos, lotteries, and slot salons are legal in Colombia; mobile betting is the fastest way to bet on sports in Colombia because the country does not tax the online winnings
After the unprecedented global events which marked the previous year, in 2021, the NSoftâs primary focus is on the regulated European market, with ambitious plans to expand its geographical footprint further more in Africa and Latin America.
NSoftâs long-term experience with land-based business has positioned the company as one of the leading software solutions providers for the betting industry in the CEE market , and this has also proven to be one of NSoft’s most valuable assets for LatAm markets due to the land-based preferences of its players. Our strong footprint across 40+ countries worldwide with 110 customers most certainly adds value to the passion and motivation standing behind every product from our extensive portfolio.
After many years of experience in the LatAm market, NSoft’s Regional Sales Manager, Mr. Carlos Vargas, emphasized the strengths which characterize this region.
“A combination of a sports-centric culture and improved internet infrastructure present new opportunities for remote gaming. When thinking about specifc countries, I believe that very soon Brazil will become a regulated market, and it could eventually rise to be the third biggest market in the global betting industry. On the other hand, the Colombian sports betting industry is just getting started and is expected to experience major growth in the upcoming years with mobile betting leading with a strong push. Almost 70% of Colombians regularly gamble with enthusiasm,” explains Mr. Vargas.
Land-based casinos, lotteries, and slot salons are legal in Colombia. In 2008, the state introduced a set of laws, highlighting the rules for the operation of slot machines and casinos.
Football brings communities together in Colombia
Colombia, with its growing population of over 60 million people, and with an average age below that of most developed countries, has the potential to become one of the most important jurisdictions in the world.
“The fact that sport is playing such an important role in the daily lives of Colombians leads me to believe that the market potential of betting is enormous. While football is a big sport all over the world, one of the reasons for its popularity in Colombia are the players.
Colombian football players donât tend to come from the big cities; the majority of players come from small rural villages or towns outside of the major cities. They are underdogs likable to the general public and thus a heros with whom people relate, especially kids at a young age see them as role models. For this reason itâs a sport which brings communities together and gives individuals a sense of pride and unity,” adds Mr. Vargas.
When talking about numbers, roughly 2.63 million Colombians already use mobile devices to place their sports wagers and that number is expected to increase in the upcoming years. Mobile betting is quickly becoming the fastest way to bet on sports in Colombia. The main advantage of placing online sports bets in Colombia is that the country does not tax the online winnings. Such a policy could be vital to ensuring nationwide leadership in sports betting and iGaming over time in Latin America.
Colombia – one of the safest betting environments in Latin America
The Coljuegos are the countriesâ online gambling regulatory agency and they have created one of the safest betting environments in LatAm. The Coljuegos are responsible for regulating in-person forms of gambling in Colombia as well, and makes sure all gambling companies operating in the country are in compliance with the respective laws and regulations.
Colombia is now one of the bright spots in the region where the local government has created an efcient approach to ban illegal gambling. All of which has resulted in opening the online market.
It is illegal to place a bet with a sportsbook that doesnât have a government-issued license. The Colombian government has censored citizenâs websites so that they can only bet with
companies that are licensed properly. Only 18 companies are authorized to operate legal sports betting operations in Colombia.
However, the process of getting a license to operate as a gambling company in Colombia is not an easy one. Companies need to pay heavy startup taxes and then have to quickly gain the trust of bettors in the country.
In 2016, the Colombian government enacted the eGaming Act which made online sports betting and online gambling legal. More recently in 2017, the Coljuegos legalized online sports betting exchanges along with virtual sports. This was one of the fnal steps needed to make Colombia one of the upper echelon countries to bet on sports while also making them one of the most progressive sports betting countries in South America. As long as the C-1611 (internet-operated games license) is authorized by Coljuegos, sports betting is good to go.
An easily integrated and modular iGaming Platform with a high performing Sportsbook is the key to successâŻâŻ
The omnichannel NSoft Sports Betting Platform is recognized worldwide due to the high standards we use in cutting-edge technology, ongoing innovation and creativity. Device Management is one of the Seven Platform’s core segments. It has become a competitive advantage over a large number of betting software providers and seen as the major asset for expansion of Seven betting and gaming platform’s and growth by many clients.
Our iGaming Platform allows operators to plug-in Sportsbook Software, Casino and Virtual Sports ofering, and includes an integrated payment gateway, bonus engine, CRM system and dedicated team of Trading analysts and 24/7 Business support.
Mr. Vargas also pointed out: “Weâve been looking forward to the opportunity to bring mobile sports betting to Colombia. Alongside with Brazil, this country will be the biggest mobile sports betting market in the LatAm region, and we feel NSoft will bring incredible products to that market, such as our Sportsbook Mobile App.”
NSoft Sportsbook ofers a complete, fast and easy-to-use solution for mobile betting on both iOS and Android platforms. The Virtual gaming portfolio, Casino and Live casino games are also included in the Appâs ofer. Quality CRM marketing solution is combined with an advanced push notifcations system allowing operators to bring the very exact content to the users, and users to trigger any event change alarm on their favourite club, online or retail ticket.
At the same time our newest Casino slot games have a lot of potential as it has been proven that RNG games are quite popular in this market.
Last but not least, Carlos added: “I am certain that our horse racing games will be a hit in Colombia because historically, the vast majority of professional jockeys have come from Latin America â trained in the jockey schools which opened in the 1950s and 1960s in Panama, Puerto Rico and Mexico City. Professional jockeys were a symbol of pride for Latinos and the Latin American horse racing community. NSoft’s Virtual Sports games bring the most popular computer-generated races based on real sports events. Greyhounds, horses, cars, motorcycles, all of them can be found in our portfolio.”
Whether you want to setup a new business or extend your current sports betting or casino content in one of the mature and regulated markets , or fnd ways to boost your business revenue in new emerging markets, reach out to NSoftâs Sales team at [email protected].
Our expertise will lead the way, as we are devoted to helping our partners with this process through our Business Solutions â ofering guidance on business operations, intellectual property, compliance, and fnancial services.
Conferences
BetConstruct Set to Appear at SBC Summit Latinoamérica 2024
Seeking to further contribute to the Latin America market with innovative products and services, BetConstruct is set to participate at the anticipated SBC Summit LatinoamĂ©rica to be held on October 29-31 in Hollywood Miami FL.Â
SBC Summit LatinoamĂ©rica has long positioned itself as the ultimate event for Latin Americaâs thriving markets, gathering over 4000 delegates, many of whom are key decision-makers in the region. The event features conferences held by over 200 experts in regulation, sports betting, casinos, marketing, compliance, and more. Also showcasing at the exhibition floor are over 70+ brands.
Already an established name in the Latin America market, BetConstruct continues to support the region with innovative offerings that will be showcased at the event. These include the comprehensive Sportsbook that has the capacity of covering 140k+ pre-match and 70k+ live events each month, massive Casino Suite with thousands of top-tier games developer both in-house and by reputable providers, impressive Live Casino, and DECA, a blockchain-based decentralised casino platform built for the future.
BetConstructâs representatives are eager to greet SBC Summit LatinoamĂ©rica delegates at stand D30 at the Seminole Hard Rock Hotel & Casino in Hollywood Miami FL, USA on October 29-31 and discuss how the companyâs expansive offerings can push the industry forward in the region. You can also book a meeting with them in advance. See you soon in Hollywood Miami FL!
Latest News
Livespins now available at Chileâs Betsala
Players can dive into the award-winning Bet with Streamers game, offering a socially charged experience where they bet alongside streamers for dynamic, real-time gameplay.
Players at Betsala can enjoy a socially charged experience like no other after the leading online sportsbook and casino in Chile put pen to paper on a deal to bring Livespins to its lobby for the very first time.
Livespins has revolutionised the way players engage with online casino and slots with its âBet with Streamersâ game which sits in the casino lobby and allows players to join a selection of streams at any given time.
Not only do players get to watch the streamer as they spin the reels on top-tier slot games, but they can bet with the streamer, too. If the streamer wins, they win â itâs that simple.
This creates a group bet and shared experience while still choosing your own bet and number of spins, offering a high level of personalization.
Livespins is all about social interaction with players able to chat with each other and the streamer throughout â they can also drop emojis, reactions and gifs based on the action taking place across the reels.
Betsala has become one of the most popular online sportsbook and casino brands in Chile, with the addition of Livespins allowing it to further differentiate from its competition and deliver a new, exciting online casino experience to its players.
Michael Pedersen, Chief Commercial Officer at Livespins, said:Â âPlayers at Betsala can look forward to a thrilling online casino experience, with Livespins combining the excitement of slot gameplay and streaming in a unique way.
âWeâre excited to bring the Livespins experience to Chile for the first time at Betsala, and canât wait for players to try it out.â
Albert Bellavista, CEO at Betsala, added:Â âWe have become the go-to destination for online casino players in Chile because we have always embraced innovative content and experiences, and this deal with Livespins is a testament to that.
âBet with Streamers offers a socially charged online casino experience like no other and we are confident that our players will be drawn to the thrilling gameplay, led by the streamer, and the option to bet on the action taking place across the reels.
âItâs a truly unique combination that promises to put players on the edge of their seats game round after game round.â
Latest News
SYNOT Games Launches Progressive Bonus with BetPlay
SYNOT Games has announced its further expansion into the Colombian market through a partnership with BetPlay. This alliance highlights SYNOT Games’ commitment to increasing its presence in Latin America and providing its engaging and innovative games to a wider audience.
Through this partnership, BetPlayâs online platform will feature a curated selection of SYNOTGamesâ top-performing titles, including fan favorites like Aztec Jaguar, Diamond Fever, Realm of Lions, Respin Joker 243. This integration is designed to diversify BetPlayâs gaming offerings and deliver a richer, more varied gaming experience to its customers.
In addition, the company announced that BetPlay will be the first operator in Colombia to launch the SYNOT Progressive Bonus. This innovative, four-level progressive bonus game offers a flexible and premium gaming experience available to all players across all SYNOT slots games.
KristĂna ÄaÄovĂĄ, Sales Manager at SYNOT Games said: âWe are excited to team up with Casino Betplay as we expand our presence in the Colombian market. This partnership is pivotal for SYNOT Games as we look to establish a strong foothold in Latin America. We are confident that our innovative gaming solutions, including the new SYNOT Progressive system, will resonate well with local players and contribute significantly to Betplayâs offering.â
âAdding SYNOT Games to our casino offerings aligns perfectly with our commitment to provide our customers with the most entertaining and secure gaming experience. SYNOTâs games are known for their quality and innovation, which we believe will greatly appeal to our players and enhance their gaming enjoyment,â Geovanni Florez, Sr Director Product and Operations at BetPlay, said.
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