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Regulation, Culture, and Vibrant Economy: SOFTSWISS Identifies Key Factors Driving iGaming Growth in LatAm

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Regulation, Culture, and Vibrant Economy: SOFTSWISS Identifies Key Factors Driving iGaming Growth in LatAm
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Growing acceptance of gambling regulations, cultural values, and the popularity of sports betting are essential factors contributing to the increasing confidence in the LatAm iGaming market, states SOFTSWISS. The company has identified these and other key conclusions in its LatAm market overview on market growth prospects in the region.

Regulation has emerged as a significant force shaping the LatAm iGaming landscape. Countries like Colombia, Argentina, and Mexico have implemented regulatory frameworks and guidelines. 

The historical significance of gambling in LatAm countries is another important factor. Countries such as Mexico, with a gambling history dating back to the Aztec empire, and Brazil, known for the long-standing lottery game ‘Jogo do Bicho,’ exemplify the local interest in gambling. 

Lotteries and horse races are preferred in countries like Chile, Peru, and Argentina. With a population already familiar with gambling activities, South America presents a receptive market that embraces gaming and is open to innovative experiences.

Industry experts have confirmed several other factors, including high digitalisation, a growing middle class, and a vibrant economy, all pointing towards the immense growth potential of iGaming in LatAm. 

Statista predicts that the online gambling market in the region will reach USD 3.4 billion by 2025. In the market overview, SOFTSWISS provides additional country-specific statistics and predictions for the region’s expected GGR growth.

To succeed in the LatAm market, operators must also consider the local audience’s content preferences. Sports betting is highly appreciated, while slots and table games are also popular choices. Surprisingly, fish games have swiftly gained popularity in LatAm, despite being relatively new to the region. 

These RNG-based arcade-style games gamify the outdoor fishing experience, one that is further enhanced by visually appealing graphics and immersive audio effects. The growing popularity of fish games is evident through the significant number of bets placed in countries such as Argentina, Brazil, Chile, and Peru. As a result, integrating with fish game providers becomes a lucrative investment opportunity for expanding into the LatAm market.

However, the Latin American iGaming market also presents challenges, particularly in payment processing. Many countries in LatAm have complex financial regulations and limited access to traditional banking services, making it difficult for players to deposit and withdraw funds from iGaming sites.

Despite these challenges, the region offers numerous opportunities for operators willing to invest. Gregory Penkov, Head of Sales at SOFTSWISS Game Aggregator, emphasises the potential for growth in this market: “By providing innovative products and services and a commitment to regulatory compliance, operators can position themselves for success in this dynamic market. With SOFTSWISS’s experience and expertise in the region, the company is well-equipped to help operators navigate the unique challenges and opportunities the market presents.”

Discover more about the LatAm iGaming market in the SOFTSWISS research. SOFTSWISS experts will also be present at the SiGMA Americas in São Paulo, Brazil, from 14th to 18th June, where attendees can explore the company’s wide range of innovative software solutions at stand D80.

 

About SOFTSWISS 

SOFTSWISS is an international iGaming company supplying certified software solutions for managing gambling operations. The expert team, which counts 1,400 employees, is based in Malta, Poland, Georgia, and Belarus.  SOFTSWISS holds a number of gaming licences and provides one-stop-shop iGaming software solutions. The company has a vast product portfolio, including the Online Casino Platform, the Game Aggregator with thousands of casino games, the Affilka affiliate platform, the Sportsbook Platform and the Jackpot Aggregator. In 2013, SOFTSWISS was the first in the world to introduce a bitcoin-optimised online casino solution.

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Bulletin from Kambi Group plc’s Annual General Meeting 2024

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Kambi Group plc (Company Registration Number C49768) having its registered address situated at Avenue 77 Complex, A4, Triq in-Negozju, Zone 3, Central Business District, Birkirkara, CBD3010, Malta (the “Company”) held its Annual General Meeting on 21 May 2024 at its registered office (the “Meeting”).

Fourteen resolutions were presented to the Meeting. Twelve ordinary resolutions (resolutions a – l) were approved:

  • Annual Report and the Financial Statements of the Company for the year ended 31 December 2023 were approved
  • Remuneration report for the year ended 31 December 2023 was approved
  • Number of Board Members 2024 was approved
  • Board Members’ fees 2024 were approved
  • Anders Ström, Patrick Clase and Marlene Forsell were re-elected as Directors
  • Kristian Nylén and Benjie Cherniak were appointed as additional new Directors
  • Anders Ström was appointed Chairman
  • Guidelines on the appointment and composition of the Nomination Committee were approved
  • Mazars Malta were re-appointed as external auditors

All two extraordinary resolutions, resolutions m and n, obtained one majority of two required in terms of Clause 135 of the Companies Act (Chapter 386 of the Laws of Malta), and in terms of Articles 48B.2(b) of the Articles of Association of the Company. To this end, an Extraordinary General Meeting is being convened within 30 days of today’s Annual General Meeting, as per proviso in same Clause and Articles, to take a fresh vote on the proposed resolutions.

The Board extends its gratitude to Lars Stugemo and Cecilia de Leeuw for their dedicated service and contributions.

By order of the Board

Sarah Fenech
Company Secretary

 

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UK fans able to bet on OKTAGON MMA with SkyBet after betting market debut on William Hill

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UK fans are now able to get even more involved with OKTAGON MMA, after news broke that fans can bet on Europe’s leading MMA promotion with SkyBet.

Although fans can already bet in the UK via William Hill, the move to SkyBet opens up the market even further for fans wishing to get involved with the action.

OKTAGON has made significant strides to get more involved with its ever-growing UK fanbase, with the first ever show on these shores in November 2023 at the AO Arena in Manchester.

On the back of that success, OKTAGON returned twice in 2024; the first coming at the Utilita Arena in Newcastle in January, before an enthralling night at the Resorts World Arena in Birmingham in April.

OKTAGON MMA co-owner Pavol Neruda commented: “We are really pleased that our fanbase in the UK and Ireland can now engage even further with OKTAGON MMA.

“SkyBet is an extremely well-respected platform, and this exemplifies the growth of OKTAGON MMA in the UK and Ireland, a market where we have dedicated significant effort to expand, and shine a light on up-and-coming MMA talent.”

UK fans can place their first bet via SkyBet for the next OKTAGON tournament, when the organisation lands in Prague at the spectacular Fortuna Arena for OKTAGON 58 for the blockbuster rematch between Karlos Vemola and Attila Vegh in front of 27,000 fans.

 

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BF Group Launches Enhanced Platform for Sports Betting and Casino Operators

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BF Group Launches Enhanced Platform for Sports Betting and Casino Operators
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BF Group, a leading innovator in the gaming and betting industry, proudly announces the launch of the latest version of their comprehensive platform designed for sports betting and casino operators. This new iteration stands out with its cutting-edge design solutions, leveraging a headless approach to ensure seamless and modern operations.

The platform is already live with BF Group’s clients, including the leading Polish sportsbook operator, LV BET.

Marcin Doszczecko, CEO of LV BET Poland and Latvia, shared his enthusiasm: “After the initial tests, we are thrilled to be part of the pilot phase of BF Group’s new platform. We’ve observed significant improvements in operational flow and profitability. The feedback from our VIP players has been overwhelmingly positive, underscoring the platform’s quality and effectiveness.”

Wiktor Grabarczyk, CEO of BF Group, commented: “We continually develop our platforms and other products, but the improvements in this iteration are so significant that we present it as a new stage in our product evolution. We are pleased to provide our partners with an even better tool, ensuring operators and their players have a comfortable and enhanced experience with our sports betting products.”

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