How Sportingtech is planning to conquer the LatAm market
Sportingtech has already created a notable mark on the industry, and is ready to expand at pace, seizing the opportunity that will be presented with regulations expected across Latin America.
MD Bobby Longhurst is celebrating a banner year at the helm of the leading brand and is excited to drive plans for immeasurable growth.
It should come as no surprise that 2023 is looking like a standout year for Sportingtech, building on our momentum from 2022. We have expanded our content offering to become the leading provider in the industry, no matter the vertical. This is backed up by securing deals with leading operators across the globe and making our mark in the emerging African market, and enhancing our footprint in Latin America, which is a key focus for us going forward.
The growth of the LatAm market presents a major opportunity to expand our business and cement our position as a leading provider of iGaming solutions in the region. With other brands only now showing their hand, we are confident that our longstanding success here and early commitment will position us as the preferred choice for operators. Our expertise and product quality was backed up by our outstanding recognition as Brazilian Platform Provider of the Year at the inaugural Brazilian iGaming Awards in 2022.
We are fresh off this year’s Brazilian iGaming Summit, where the full power of Sportingtech was on display. It was great to see how the event has grown, which further confirms our strategy over the last few years to focus on creating and maintaining our strong footprint in the region.
We also uncovered some valuable insights as to the current landscape and any roadblocks that potentially lie ahead. Unfortunately, it looks as though another one has been encountered as positive news for regulation in Brazil looks to be halted yet again, with a probe into illegal match fixing in football underway. Despite this latest setback, we are not letting it affect us, it is very much business as usual for our company until we have a clearer picture into what the legislation will mean for us and our partners from a technical standpoint.
There are far fewer difficulties for operators and providers to navigate LatAm than there is in the US, and I believe this show has even greater potential moving forward. Based on that alone, we are excited to say that we’ve already had initial discussions with the event organisers about our plans for the show in 2024.
A large number of operators took the opportunity to exhibit and this was a welcome change for us as a supplier. This was mainly for affiliate purposes, but it showed that operators in Brazil are open to conversations and looking for new innovative ways to enhance their offering, whether it’s payments, casino content, CRM, or any other business function.
As important as Brazil is, we are making a concerted effort to make our mark in other areas in LatAm. Both Chile and Peru present interesting opportunities in their own right, and with the importance we place on localisation, we are primed to deliver for those audiences and become the go-to choice for operators. LatAm markets are proven to have some of the most passionate bettors in the world when it comes to sports, and displaying to each country that its needs have been identified and addressed with an offering that has been carefully tailored to the preferences of the population makes it much more likely to attract and retain the customers.
In a digital first age, it should come as no surprise that on average, operators in Latin America generate 76% of their total online revenue through mobile devices. This statistic underlines the growing reliance on mobile devices for accessing and engaging with iGaming websites, reflecting the region’s preference for convenience and mobility.
Peru has emerged as a promising market in the iGaming industry. Unsurprisingly movement stalled after former Prime Minister Pedro Castillo’s failed coup back in December, but things may soon pick up. The country has experienced steady economic growth, with many enjoying an increase in disposable income, which translates into greater demand for leisure and entertainment activities, including online betting. Peru’s strong sporting culture, football and other sports like volleyball proving popular, contributes to the demand for sports betting.
South of Peru in Chile, lawmakers want to ensure local operations are at the front of the queue. As a result, it is expected that brands will need to be headquartered in the country, levelling the playing field for local and international operators. Just as important as offering a localised product are the initiatives that promote safe and responsible gambling. So watch this space for movement across a number of territories in LatAm.
Brands are only as good as the teams within them, and we are in the enviable position of having a top-quality group of experts in all areas, whether it be product, marketing, or compliance. The USP of our company is that we are able to deliver bespoke offerings to any operator. This gives us a clear edge on other suppliers whose offerings are not as intricate and nuanced as ours. Operators trust us to provide the most robust and scalable solution in the industry, and we deliver. Our offering is full of innovative developments that can engage players and provide them with the most satisfying betting experiences.
It would be remiss of me to not mention the product developments we have made as a company in the past year. The Winter World Cup was a strange one for football fans, but it presented a unique opportunity for us, and it was one that we grabbed with both hands as we delivered fantastic engagement for our partners. Rolling out game-changing products that give our bettors an edge has certainly improved engagement and turnover for our operator partners. The Bet Assist and Fast Bet products that we launched have set us apart and we are continuing to evolve.
Our Share-a-Bet feature is one for the new generation of players, who use social media as a communication tool. This allows players to share their bets to their social media followings via a few simple taps and for their followers to then place the same bet easily, should they wish to do so. Integrating such functionality showcases our ability to tap into current trends in player habits and enhance the bespoke offerings we provide.
There is no doubt that we have everything in our favour to enhance our already top-class reputation throughout the industry. With a conveyor belt of high-class product developments released at pace, and expert teams ready to engage with operators to deliver tailored solutions, we are ready to build from a position of strength as we maintain our status as an industry powerhouse.