Interactive
EMERGING MARKETS BTOBET
dominating market in LatAm and one of the most prominent from a global perspective. And this is confirmed by the numbers themselves, with the country having a population of 210 million with a clear propensity for gambling and a huge sporting culture.
Whilst up until now the local regulated sports betting market is limited to horse racing, the local industry is greatly targeted by grey market operators. Nonetheless, whilst the size of the offshore market is up for debate, a report commissioned by the Remote Gaming Association (RGA) and conducted by KPMG in late 2017 estimated the offshore online grey market to be worth US$2.1bn annually in GGR terms. Tis is only an indication of how much a local regulated market will be worth.
Colombia is another exception. Do you envisage an expansion of sports betting in Colombia?
Once Colombia embraced strong regulatory frameworks it has witnessed a boom in the number of licenses issued over a relatively
With the invention of the Internet, online casinos, lotteries and games have appeared and are available to almost everyone. According to a report developed by Verified Market Research, the global online gambling and betting market was valued at US$49.63bn in 2018 and is projected to reach US$114.38bn by 2026, growing at a CAGR of 10.94 per cent from 2019 to 2026.
As in the whole world, in the Latin American region the online betting market is experiencing significant growth. Te progression of online bookmakers is increasing and in certain population groups there is an important breeding ground: it is fundamentally young people who are more attracted to the appeal of the entertaiment provided by the industry.
Latin America has experienced in recent years a good consolidation of the economy in different countries. While it is true that there are still regions that experience some instability, most countries in the region are very stable and prosperous at the economic level. Tis has
As in the whole world, in the Latin American region the online betting market is experiencing significant growth. The
progression of online bookmakers is increasing and in certain population groups there is an important breeding ground: it is fundamentally young people who are more attracted to the appeal of the entertaiment provided by the industry.
short period of time. However the pace of new license issues has relatively slowed down indicating that the market may be reaching a saturation point. But this does not in any way reflect a slowing down in terms of local players being attracted to the local sports betting industry.
In December 2018, Coljuegos, the country’s gaming regulator, reported that its online licencees had registered a total of 1.7 million customer accounts out of a population of around 50 million people. Tis has effectively grown to 2.63 million users by the second half of 2019, which is a clear indication of the constant growth that the local industry is experiencing, and this trend is set to maintain its momentum.
What is the overall potential of the sports betting market in the region?
Reports indicated that the Latin American online betting market was worth more than US$2bn by the end of last year. Tat’s more than three times as much as Southeast Asia, which is experiencing a huge gambling boom in its own right.
aroused the interest of large online betting houses in the region, as they see that there are more and more people who have the necessary capital to place bets online.
Could you tell us more about about BtoBet’s plans for the region? What role will Neuron 3 play as part of your strategy in the region?
BtoBet boasts of a very strong presence in LatAm across all regulated markets. Nonetheless, we are always monitoring the evolving regulatory situation and foresee further expansion from our part especially once the Brazilian iGaming market becomes regulated. Te reputation and the trust that we have built lies primarily in the expertise and knowledge of the differing local market contexts, and also in the technological accumen at the core of our Neuron 3 betting and gambling platform.
Our localiaed approach, both in terms of optimisation of the platform itself to meet the local requirements, and also as regards content and payment gateways readily available at native level ensures a more tailored and unique experience reflecting the local players’ preferences and behaviour, putting our partners
NEWSWIRE / INTERACTIVE / MARKET DATA P159
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