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Big game player: Betinvest engage lucrative LATAM sports betting market

George Miller

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Betinvest levels the odds with customer support training
Valentyn Kyrylenko, Betinvest's VP of Business Development
Reading Time: 4 minutes

 

After scouting out a whole host of opportunities on the rise in South America Betinvest’s VP of Business Development Valentyn Kyrylenko explained that the solutions provider is catering its products to the specific requirements of the LATAM market.

 

In recent weeks you’ve attended both Juegos Miami and LIMA in Peru, what makes Latin America and the Caribbean so exciting for you at this time?
Yes, we’ve attended a lot of industry events recently. We also exhibited at the Brazilian Gaming Congress, which took place shortly after the Peru Gaming Show in June, and we visited FADJA in Colombia earlier in the year. We’ve gathered a lot of useful information about the key features of the market at panel discussions and through face-to-face communication with local businesses and regulators. We firmly believe that there’s a huge potential for the gambling industry in Latin American countries and that their governments have taken a positive step in regulating it. As a leading provider of sports betting solutions, we’re obliged to keep abreast of and be active in the places and markets where the industry needs to be driven. That’s why the LATAM region is not the only region we’ve got our eyes on, although it is a very important one. The market is huge and it has limitless potential for companies in the iGaming sector. It’s only going to get bigger, better and more lucrative in the years to come, and that’s good news all around. Sport is an important part of LATAM culture; people love to watch sports, and to cheer on and support their favourite teams by placing bets. At the moment, locals don’t have particularly good or relevant industry experience so they need high-level sports betting products and must learn how to work with them. This is one of the upcoming tasks for European providers. In fact, if estimates are to be believed, Latin America could be more lucrative than all the regulated gambling markets in the United States for the foreseeable future.

Could you give an indication of the scale of Betinvest’s initiatives in the region at this time?
We’re still researching and exploring this region. We decided to visit these countries ourselves to participate in the biggest events, to network with partners, local operators and regulators, and to get industry insights. In accordance with the knowledge we now possess, we can tailor our plan for entering this market as a sports betting supplier and start new projects with our LATAM partners, but it’s going to take time. Long term, we plan to open a Betinvest office in Brazil, the largest South American country, and continue to provide our products and solutions to local operators who’ll be able to operate legally under the new legislation. In our opinion, Brazil is an excellent point of entry into the whole region.

When measuring players habits and regulatory red-tape, how different is it to working within Europe and do you feel you’re still having to make a name for yourself in this emerging market?
People in this region live and breathe sport and, what’s more, they love to bet. You can see this on the streets where almost everyone watches football matches on their mobile phones and glances through windows into houses where there’s a match showing on TV. They’re obsessed with sport, especially football. It’s the favourite sport of almost all the men and roughly 50 percent of the women (these figures are not based on official statistics). If we look at the behaviour of Latin American players, we can see that people usually place bets with small stakes of around $5-10. It would be very unusual to see a stake as big as $1,000. We can see that their gaming style is quite different to that of European bettors and generally less advanced. Taking Peru as an example, having just a few markets and only around 4,000 events is sufficient. Another important point is that local players are more likely to trust you as an operator if you have physical betting shops as well as online services. This is not due to the quality of the internet connection – it’s perfectly stable and having a mobile application is vital for every operator in order to meet their customers’ needs. The reason is simply that people have more confidence in a company when they’re used to seeing it in their local area. On average, the audience for gambling in Europe is younger than it is in South America. Some sports, including those that have a huge following in Europe, are practically non-existent in the LATAM region. Many will be surprised to hear about the passion for lotteries, as well as the rise in search traffic for sites that focus on games of chance. Regulators are very open and it’s easy to find all the necessary information. Making a name for yourself is an important step when you enter any new market. It’s something we do every time we exhibit or visit industry events and promote our sports betting products. We expect this market to show impressive growth. We’re ready to invest in it and to help the region to develop experienced players and reliable operators.

With such an engaged player base in the region, how are you adapting your business model to ensure your pricing and infrastructure is both profitable and sustainable?
We plan to open a Betinvest office in this region and to supply our time-tested sports betting products and solutions. Our products are 100 percent compliant with LATAM market requirements. We’ll be reconsidering our pricing for this region, since the offers we have for our European partners won’t suit those in the LATAM market very well. They don’t need as many events or markets in their Sportsbook, which means that we can reduce the price for them. We’re also working on creating some special offers for our partners in Latin American countries.

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Compliance Updates

How the Regulatory Environment for Online Gaming is Evolving

George Miller

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How the Regulatory Environment for Online Gaming is Evolving
Reading Time: 4 minutes

 

In many countries, online gaming isn’t part of the regulatory environment. That’s because most gaming laws were passed long before the Internet came along. Where online casinos are allowed, the rules aren’t written in stone.

They change frequently, often to adjust tax rate or raise regulatory standards. That said, the world is slowly changing its stance on online casinos. An industry traditionally rejected by politicians and lobbyists is now welcomed, albeit with fast-changing rules.

Below is an overview of the evolving regulatory framework of online gaming globally.

Emphasizing Transparency

If you have visited an online casino lately, you must have realized they are more transparent than ever before. They no longer hide their license numbers, office addresses or contact details.

Instead, they provide every piece of information you need.

Online casinos aren’t suddenly transparent out of their own kindness. They’ve been directed to become more open with their customers. That way, no one has to create an account and spend money at a gaming site based on misleading information.

That transparency is pretty crucial when it comes to payments and bonuses. On the one hand, you want to know about fees, limits and processing times beforehand. On the flip side, you want to accept bonuses only after you understand their terms and conditions.

Of course, not all casinos are entirely transparent. In many cases, you’ll need to read their terms and conditions to discover the nitty gritty of their services. For example, they might reveal their bonus wagering requirements beforehand. But they could hide information about withdrawal limits in their terms and conditions webpages.

Encouraging Social Responsibility

Social responsibility has been a trending topic for the past five years. It’s something everyone involved in the online gaming sector wants to talk about for selfless or business reasons. In Britain, the UKGC requires operators to have tools and partnerships with programs that can help problem gamblers.

It also works with non-profit organizations to help raise the standards for safe casino gaming or to help players in some way. With that in mind, nearly every online casino in Britain has a way of preventing casino harm.

At some websites, you get software to restrict your weekly and monthly budgets. Also, you receive a hotline or link to a website you can call if you need intervention. These days, online casino also works with Gamstop—an NGO that helps casino players self-exclude from gaming websites in the UK.

How Gamstop Works

Gamstop provides you with an online form on which you fill your name, date of birth, email address, mobile number and home address. You also specific how long you want to be excluded from online casinos: six months, one or five years.

After that, it circulates your information every online casino licensed by the UKGC. It also orders them to blacklist you for the time you specified. After your self-exclusion period is over, you can contact Gamstop to deactivate your account.

Unfortunately, your records don’t just fade away. Every online casino gets a memo that you’ve registered for Gamstop’s program in the past. Some casinos might then reject you fearing you could still have problem gaming.

There’s an alternative, though, and you can find more information here. But basically, it helps you find safe casinos not regulated by the UKGC. Also, they don’t work with Gamstop, so you don’t have to worry not finding a gaming website.

Regional Regulation in North America

In both the US and Canada, online gambling regulation is now a regional issue. In the US, states legalize and regulate the industry. In Canada, provinces make the rules and authorize operators to run online casinos.

There are several more countries where online gaming is regulated on a regional level:

Germany, South Africa and Australia, to name a few. And all of them cite one benefit: it’s easier to regulate gaming markets within a province or state compared to national level.

Will Britain follow suit? Unlikely. The UK shows no signs of taking away the gaming regulatory mandate from the UKGC and genuinely so. For a long time, Britain has been a paragon of how to regulate online casinos professionally and transparently.

As such, the focus isn’t be on devolving online casinos. It is on regulating it properly regardless of who does it. After all, the majority of countries aren’t large enough to devolve online gaming.

Relaxed Advertising Laws

For a long time, most countries had strict gambling advertising rules. Some nations like Spain still have prohibitive advertising laws for remote gaming companies. But generally speaking, the world is moving towards an environment where operators can market their content freely.

For example, online casinos are no longer prohibited from advertising on television. Sure, they can’t run adverts during the day. But they have an allocated time when they can market their games and bonuses.

Likewise, they can also advertise on websites and mobile apps. The only restriction is to avoid running ads on websites frequented by children. Additionally, they can’t involve young persons in their marketing efforts.

Expanding and Privatizing Gaming Businesses

In many countries where online gaming is legal, operators didn’t always have the freedom to offer all gaming positions. In contrast, players didn’t always have the choice on where they can bet on sports.

Instead, some countries used to run online gaming through monopoly government agencies.

Norway still uses that system. But more countries globally are privatizing gaming so that players have a variety of casinos to use.

In contrast, countries are also expanding their lists of allowed gaming positions. As a result, slot websites no longer have a limit on the number of machines they can provide. And they are not prohibited to provide certain games for any reason.

Conclusion

The online gaming industry is undergoing a progressive revolution. And it does not just mean there will be more gaming sites in the future. It means operators have more freedom on games to provide and how to market their services. In contrast, it means players have access to more and better gaming platforms.

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Latest News

Tecnalis lands virtual sports deal with GoldenRace

George Miller

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Tecnalis lands virtual sports deal with GoldenRace
Reading Time: 2 minutes

 

Tecnalis finishes integrating the supplier GoldenRace into their platform, increasing what they can offer to Spanish and Latin American operators.

Alira, the platform created by Tecnalis, expands its content catalog by offering a brand new vertical, virtual sports. Tecnalis continues to consolidate its position as the leading gaming management platform in the Spanish-speaking market and this collaboration will give GoldenRace the visibility it deserves in countries such as Colombia, Peru, Paraguay, as well as in Spain.

The GoldenRace brand offers players a variety of sports and virtual games. With highly realistic 3D graphic design, this supplier has cutting-edge technical resources that offer horse racing, virtual soccer games and harness racing, amongst others. Virtual sports are growing every year, gaining millions of followers from all over the world and this opportunity gives GoldenRace their chance to triumph in Spain and South America, thanks to Tecnalis.

Alejandro Serrano Zaera, COO of Tecnalis has shown his optimism with this new collaboration: “This partnership with GoldenRace is a big step forward for Tecnalis. Offering virtual sports is something we consider vital for the future and this integration allows our clients to enjoy the best supplier of virtual sports in the industry. This project is very intriguing for both companies and we are sure that it will bring a lot of value to all of our partners in Spain and Latin America, and furthermore, it will increase Tecnalis’ leadership in all Spanish-speaking markets.”

Martin Wachter, CEO & Founder of GoldenRace, celebrated the sign of the deal:
“It is great to have this deal with Tecnalis and be able to offer our product to a new group of players in Latin America, where we are market leader with our virtual football, and Spain, where we have strongly entered the market at the beginning of the present year and we are more than happy to keep growing. We are very thankful with Tecnalis and I am sure we will achieve amazing things thanks to this partnership.”

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Eastern Europe

QTech Games strengthens its premium platform with Slotmill

George Miller

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QTech Games strengthens its premium platform with Slotmill
Reading Time: 2 minutes

 

Leading distributor expands its content portfolio with new games from rising star supplier

QTech Games, the number-one games distributor across Asia and all growth markets, has continued to build the strong momentum in its premium pipeline, thanks to its latest deal with rising star supplier, Slotmill.

Integrating content from one of the most innovative and creative online slots providers adds yet more creative muscle to QTech Games’ burgeoning platform, which is bringing the widest range of online games to emerging territories with established names, such as Ezugi and Yggdrasil, sitting alongside the industry’s most exciting up-and-coming providers.

Among the games made available to its partners via the deal will be Slotmill’s latest release, Templar Treasures, a sumptuous 5×3 slot based on the Knights Templar theme of Arthurian legend, featuring 10 fixed bet-lines and unique maths modelling that powers the volatility spectrum with a maximum win of x7000 the bet stake. Burst Mode functionality also drives dynamic autoplay, whereby the reels are stripped away for faster, more focused gameplay.

Slotmill’s game client has been optimised for mobile, the central focus of QTech’s RNG model, which is founded on its fully-owned and customised technical platform, affording games providers and operators the fastest integration available. Through this leading platform, which has recently sealed its definitive status as a global gaming one-stop shop, clients enjoy the best performance and customer support available, localised to every region across both emerging and more mature markets.

The deal organically broadens Slotmill’s international footprint, unlocking untapped jurisdictions from Asia to Eastern Europe and Latin America for diversified growth.

Ulf Norder, CCO QTech Games, said: “We’re committed to rolling out high-quality content that drives revenue for our partners. So, this deal with Slotmill extends our impressive sequential pipeline for 2020. In today’s marketplace, only premium games of the highest standard separate you from the crowd, so we’re delighted to see how Slotmill has fulfilled this demand. That means stunning graphics, coupled to the latest maths models for improved gameplay and high-variance volatility where required.”

Johan Öhman, Founder of Slotmill, added: “We’re reinvigorating the slots space with deeper gaming experiences. Teaming up with QTech represents a fantastic opportunity to strengthen our product distribution across emerging territories and deliver our great games to a range of top-tier partners. We can’t wait to see how they connect with new audiences, and we will expand this partnership over the months ahead.

“In an era of customisation, QTech Games is truly embracing their brand promise of tailoring top-class content for different cultures. This is what keeps them at the cutting edge of relevance for all kinds of players in the melting-pot of Asia and beyond.”

 

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