SBC SUMMIT PREVIEW
LatAm iGaming: From regulation to retention – what really works?
Latin America is still described as the ‘next big thing’ in iGaming. The numbers suggest that’s true, but the reality on the ground is more complicated, according to the experts at Blokotech.
B
razil has finally moved to regulate sports betting, Peru has taken a clear licensing path, Argentina keeps growing despite its patchwork of provincial rules, and Mexico continues to be a high volume, but informal market. Operators looking in from the outside see opportunity. Those already inside know that growth comes with real friction.
REGULATION IN PRACTICE Each country has its own quirks. In Brazil, enthusiasm around licensing is high, but the taxes and compliance checks are proving heavier than most first expected. Peru looks like a new hub for regulated operations, but the costs of homologation are forcing some groups to slow down. Argentina remains fragmented, which means no easy national strategy. Mexico is attractive in terms of scale, but the lack of clear rules leaves investors cautious.
The takeaway? A copy-paste strategy simply doesn’t work. Success depends on adapting to the details: PIX in Brazil,
PagoEfectivo and Yape in Peru, OXXO in Mexico, retail agents in Venezuela and Ecuador, and the growing role of crypto. Operators who misread this end up spending big for little return.
RISING COSTS, FRAGILE LOYALTY
Across the region, acquisition is expensive. Affiliates and influencers charge more every month, regulation adds extra overhead, and the bonus wars are relentless. ‘First deposit’ offers are everywhere.
Players are quick to claim them, then switch to the next brand offering slightly more. Operators ask the same question: how do you keep a player once you’ve paid to bring them in?
WHERE RETENTION REALLY HAPPENS
The old CRM playbook isn’t working. Email and SMS have limited impact. Players are in Telegram, WhatsApp, and social groups.
That’s where loyalty is built or lost. It’s no longer about bulk promos. It’s about sending relevant, timely messages based on behaviour and preferences.
The operators who take this seriously are treating it as a data challenge, not a marketing afterthought. AI can play a role here, but what matters most is the shift of mindset: from seeing messaging as an add-on, to making it the core of retention.
WHAT COMES NEXT?
Over the next year, we’ll see consolidation. Big groups are circling Brazil. Local operators want stronger tech stacks to defend their share. Investors are still keen, but they are looking for models that can scale beyond short-term acquisition pushes. The winners will be those who combine compliance with local know-how and who treat messaging as their primary retention channel. They’ll cut down bonus churn, keep players engaged, and prove that Latin America isn’t just a headline opportunity, but a market where sustainable growth is possible.
40 SEPTEMBER 2025 GIO
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