Sportingtech analyzes Brazil's potential to become one of the world's largest betting markets

Sportingtech analyzes Brazil’s potential to become one of the world’s largest betting markets

Jhuana Lamas, business developer in Brazil at Sportingtech, analyzes the current state of the Brazilian market and various growth opportunities in the country.

Press release.- Latin America has long been land of opportunity for the global iGaming industry– The stunning potential of Latin American markets has never been far from the minds of those determined to grow their iGaming and sports betting offerings.

LatAm jurisdictions regulate at their own pace, and World Cup just around the corner, the reward for those who made the transition to regulation was a healthy level of growth, and rightly so; The tournament is the biggest sporting event on the calendar this year and offers a wealth of opportunities for sports bettors.

Not surprisingly, the event is the focus in the region this year: football accounts for most of the turnover of sportsbooks in Latin America and represents common ground for any market.

In this sense, Brazil Something like a sleeping giant happened: I’ve been waiting for the regulation for monthsThe country’s potential to become one of the world’s largest iGaming markets is beyond doubt, but the country is in danger of missing out on a golden opportunity.

Many iGaming stakeholders are watching the country, waiting for the latest law to be passed before licensees can start their operations. Rightly: Brazil’s population alone is more than 200 millionSmartphone penetration across South America is expected to reach 73 percent by 2025, according to GSMA, while Internet penetration for Latin America and the Caribbean is expected to reach 74 percent by 2020, according to World Bank estimates.

See also: Sportingtech explores country-by-country opportunities in Latin America

The growth opportunity in Brazil is enormous, but the regulatory race for the country continues. In 2018, fixed-odds betting was essentially considered a legitimate activity by your government. The Ministry of Economy was then given four years to establish a licensing or franchise system that would foster a competitive culture in both online and retail sports betting.

Home to arguably the world’s most avid football fans, the potential rewards of succeeding in this endeavor cannot be underestimated; The industry had hoped the law would be passed before the World Cup kicked off on 20 November. However, it didn’t.

However, this represents a nice balancing act: Traders must remain vigilant to not lose their first mover advantage.. Trial and error won’t work for gaming companies, especially in such a competitive space – vendors and operators must be prepared to launch products with maximum efficiency to have the best chance of success.

These rewards include not only winning and retaining sports betting fans, but also those who enjoy the casino and seek alternative forms of entertainment during the event’s slower matches.

Benefit from the expertise of a partner with localization knowledge, such as: sports technologywill be crucial here: the ability to adapt quickly to change is key. There are many variables; Brazil’s entry into the world of regulated sports betting may be stalled by recent political events: Lula, the surprise winner of the recent presidential race, is much more pragmatic in his views on online gambling than his rival Bolsonaro, alluding to fate Brazil’s gambling licensing regime remains unclear. As long as there is regulation, the ability to act quickly will be vital to gaining market share.

Providers with detailed knowledge of the landscape will be crucial in the future as operators try to navigate the area and take advantage of its many rich opportunities. After finding that Brazilian citizens are incredibly media compliant and have hypersocial tendencies, To take advantage of these features, Sportingtech has developed a unique bet share function.which lends itself well to influencer marketing in the country.

This feature allows players and influencers to share carrier-branded betting slips across multiple social media channels, including WhatsApp.

Share-a-bet buyers can follow the provided QR code, which takes them directly to the operator’s website and simultaneously rewards them with a first deposit bonus. This is mutually beneficial as the player who shares the bet is also rewarded with a refer a friend bonus.

The whole process results in maximizing acquisition and retention, which is ultimately the holy grail for any trader.

Of course, There are many opportunities in Brazil beyond football and the World Cup. For example, mixed martial arts, basketball, and the NBA also have ardent fans. With that in mind, quick win should be prioritized by offering a streamlined offer that makes the onboarding process much smoother for those not used to online sports betting.

One of Sportingtech’s initiatives to do just that is the Popular Bets and Popular Events widget. It collects and displays the 10 most popular bets and events on an operator’s platform, updated every five minutes. The product in question is designed to quickly and easily introduce punters to the excitement of online sports betting, and it certainly will if Brazil’s regulatory breakthrough happens.

It is very important to consider market preferences when preparing a proposal for a new market that allows for rapid and efficient expansion. Sportingtech’s modular offering supported by local teams providing a tailored product for a market that can be trusted, providing excellent customer support in the field.

Uncertainty still grips Brazil, but preparation to take action at the right time will be the key to success there in the weeks ahead.

See also: Sportingtech analyzes acquisition and retention strategies on LatAm during the World Cup

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