INSIGHT LATIN AMERICA FOCUS
have the same appeal in more mature markets. Hence, it’s all about adapting your sports betting offering to meet each specific market’s characteristics. It’s all about ticking the boxes and ensuring your product is localised. And this is not limited only to content. From offering a fully bespoke UI and UX for brand differentiation, delivering local payment methods, to providing a broad coverage for all the most local popular sports, it’s about providing a solution tailored according to our individual partner’s needs. And this is why our product is unrivalled in LatAm.
Colombia has allowed for sports betting for some time now. Do you think that there is still room for sports betting expansion online? How about the land based sector? Is there room for growth?
Te market has shown rapid growth reflecting the potential of a well-regulated market. Growth in the industry is evidenced by the 3.8 million player accounts now registered in the jurisdiction, as indicated by national gaming regulator Coljuegos. Coljuegos has taken a strong stance against unlicensed operators, resulting in a high player channelisation rate.
Coljuegos has also gradually begun to liberalise the market and has increased the number of products on offer in the territory, including pari- mutuel sports betting. It has also allowed current online-based participants in the market to offer live-dealer online casino games, betting on virtual sports and instant win games. Tese are all indicative of a clear roadmap outlined by the local authorities. Tus, I expect the market to register further growth in the future.
My belief is further reinforced when taking a look at the net revenue statistics issued by Coljuegos (see table), which indicates an upward trajectory for sports betting.
Do you think that markets such as Ecuador and Venezuela which have been closed off for years will eventually allow for sports betting?
Latin America has perennially generated a general nod of consent regarding the immense potential that its sports betting industry keeps in hold. However, truth is that generally speaking the region still lags behind more mature scenarios, such as Europe, in terms of infrastructure but especially in terms of regulatory frameworks already in place. At the same time, it is important to note that the regularisation of the Colombian industry in 2017 has put in motion a willingness from all the different local authorities to shift their stance in favour of regulation. Te imminent regulatory framework that is set to be implemented by Brazil is dominating the industry’s agenda and I expect this to have a domino effect on all those countries that are still pondering the regulation of the industry. An impasse from a regulatory point of view will
P94 WIRE / PULSE / INSIGHT / REPORTS
see black market operators further expose local players to substantial risks from a responsible gambling point of view.
What do you think of the way sports betting regulation is developing in Brazil? What kind of opportunities do you foresee in Brazil or do you just see more delays?
“The potential of the Brazilian market is immense. Yet this highly depends on the gambling legislation and
regulation that are eventually enacted. The pandemic has already brought with it the worst economic decline in decades, and COVID-19 hit as Brazil was still recovering from its 2014-16 recession. The
country’s economy shrank by as much as 4.1 per cent in 2020. In this context the
legalisation of the betting and gambling industry, and the
eventual taxes it will contribute to state coffers, could well be of great aid to the country during these particular hard times.”
Te potential of the Brazilian market is immense. Yet this highly depends on the gambling legislation and regulation that are eventually enacted. Te pandemic has already brought with it the worst economic decline in decades, and COVID-19 hit as Brazil was still recovering from its 2014-16 recession.
Te country’s economy shrank by as much as 4.1 per cent in 2020. In this context, the legalisation of the betting and gambling industry and the eventual taxes it will contribute to state coffers could well be of great aid to the country during these particularly hard times.
A lot of uncertainty still lies in the licence granting model the market would adopt. I hope that the federal government will see that the “authorisation” model, in which all operators satisfying certain legal and financial requirements are granted a licence, without any limitation on the number of licences being granted, much more beneficial to Brazil and to the market than the “concession” model that is more recently being supported by the Brazilian authorities.
What developments can we expect to see in the near future from the region?
Regulation will be the key driver in shaping the regional iGaming landscape. Colombia has set itself as a point of reference, with its regulatory framework allowing for strong market growth. Tis model will eventually play a big influence in neighbouring countries, and we have already seen positive steps in certain key jurisdictions such as Buenos Aires province in Argentina and, of course, Brazil.
From a product side I would expect that over time as local players become more savvy, we will see an increase in in-play betting.
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 |
Page 127 |
Page 128 |
Page 129 |
Page 130 |
Page 131 |
Page 132 |
Page 133 |
Page 134 |
Page 135 |
Page 136 |
Page 137 |
Page 138 |
Page 139 |
Page 140 |
Page 141 |
Page 142 |
Page 143 |
Page 144 |
Page 145 |
Page 146 |
Page 147 |
Page 148 |
Page 149 |
Page 150
