INSIGHT
LATAM OPPORTUNITIES ALTENAR
Hugo Llanos Americas' Regional Director Altenar
In recent weeks, the wheels have started turning once more on Brazil’s regulatory machine, with the Senate reviewing proposed sports betting regulations and appearing to set a self-imposed completion deadline of the end of the year. Brazil has long been seen as the jewel in the crown of the thriving region and for a turnkey sportsbook provider, it without a doubt offers huge opportunities.
Te market is set for an estimated $1bn boost to the gambling industry by 2026 and legalisation of sports betting is forecasted to raise up to BRL$12bn per year in tax. Add to this the fact that no limit on licences has been imposed, operators looking to make a name for themselves could enjoy a relatively rapid entry into the market.
While some measures may cause non- domiciled operators to exercise caution, with the licence fee of $R30m (£4.89m/€5.69m/$6.10m) looking like it will remain, expansion in Brazil is an opportunity many cannot afford to miss out on.
It’s easy to see why. Te country’s vast population has a true love of sport, in particular football, running through their veins and many of the more than 216.4 million citizens represent a significant appeal for local and non-dom operators. Sports such as UFC, MMA, NFL, volleyball and basketball pull a strong audience too, which present a fantastic wealth of options.
We have very exciting plans for the market – we’re already set to go live with one of Brazil’s largest operators. Looking to Q4 and beyond, we plan to continue our commitment to the market by opening our first office there when regulation is passed. Brazil is undeniably the country with most promise for the sports betting and gaming sectors and those who enter when it is legalised could find a place in the history books.
Of course, Brazil is not the only market with promise in LatAm and it would be wrong to only
focus on the country when discussing the ample opportunities across the region. In my opinion, Mexico is a close second and much of its potential is yet to be discovered.
Mexico is a sizeable market with a gross gambling yield of around $500m, 10 per cent YOY growth and raises more than $300 million in tax revenue each year. Its economy is growing and as with Brazil, has a population that are hugely passionate about sports. It is believed around 40 per cent of people in Mexico have bet on a sport in some form over the last 12 months as well as a quarter of bettors wagering for the first time, which shows how quickly adoption of online is growing.
Further to this, Mexico increasingly has a demographic with the disposable income to spend on pastimes with its growing middle class – all of whom love sport as entertainment. Not only that, it has a high internet penetration rate of around 78.6 per cent and has reduced its tax regime for sports betting operators to 15 per cent, making it a golden opportunity for many operators.
We can make a real difference here given that Altenar has provided award-winning services to some of the most prominent operators in countries across LatAm for many years, and we’re eagerly observing the changes that are taking place.
While there are many simultaneous conversations about different LatAm markets, all in the middle of the regulatory process, it is important to see each country in isolation, with the unique and nuanced tastes varying across the landscape.
Te key to success is always staying agile and diversifying the product to the different markets. In my view, LatAm is one of the most diverse continents across the globe, and we’re incredibly proud to be one of the key driving forces behind its development.
The market is set for an estimated $1bn boost to the gambling industry by 2026 and legalisation of sports betting is forecasted to
raise up to BRL$12bn per year in tax. Add to this the fact that no limit on licences has been imposed, operators could enjoy a relatively rapid entry into the market. While some measures may cause non-
domiciled operators to exercise caution, with the licence fee of $R30m (£4.89m/ €5.69m/ $6.10m) looking like it will remain, expansion in Brazil is an opportunity many cannot afford to miss out on.
WIRE / PULSE / INSIGHT / REPORTS P47
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72 |
Page 73 |
Page 74 |
Page 75 |
Page 76 |
Page 77 |
Page 78 |
Page 79 |
Page 80 |
Page 81 |
Page 82 |
Page 83 |
Page 84 |
Page 85 |
Page 86 |
Page 87 |
Page 88 |
Page 89 |
Page 90 |
Page 91 |
Page 92 |
Page 93 |
Page 94 |
Page 95 |
Page 96 |
Page 97 |
Page 98 |
Page 99 |
Page 100 |
Page 101 |
Page 102 |
Page 103 |
Page 104 |
Page 105 |
Page 106 |
Page 107 |
Page 108 |
Page 109 |
Page 110 |
Page 111 |
Page 112 |
Page 113 |
Page 114 |
Page 115 |
Page 116 |
Page 117 |
Page 118 |
Page 119 |
Page 120 |
Page 121 |
Page 122 |
Page 123 |
Page 124 |
Page 125 |
Page 126
