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Brazil is not friendly to ‘amateurs’ warns Online IPS partner Witoldo Hendrich Junior ahead of attendance at ICE London

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Brazil is not friendly to 'amateurs' warns Online IPS partner Witoldo Hendrich Junior ahead of attendance at ICE London
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Veteran industry lawyer Witoldo Hendrich Junior, Chief Legal Officer (Brazil) and Partner at registered payment facilitator Online IPS has warned of the significant dangers of attempting to enter LatAm markets prematurely and without the necessary knowledge. Speaking ahead of the company’s appearance at ICE London (stand N10-585) the Online IPS partner, who has lectured in taxation as a University Professor in Rio for close to 20-years, stated: “Taking Brazil as an example, with a population of 220 million, the country is on course to become one of the most important sports betting markets in the world but one which requires specialist and expert support. Here in Brazil, we admit that Brazil is not friendly to ‘amateurs’. Taxation has historically been known for being very challenging and complex, and the recent political involvement from the Supreme Court into legislative and executive matters definitely compromised the confidence in legal certainty.

“We will be using our appearance at ICE London to explain our entry strategy for organizations wishing to operate in Brazil, as well as the special tax treatment enabling merchants to take funds out of the country in a legally compliant manner, using Central Bank regulations. Our goal is simple and that’s to allow Chief Compliance Officers to relax confidently and Chief Financial Officers to rest easy!”

Emphasizing the importance of taking a country-by-country approach to entering LatAm he stated: “Contrary to Europe, each country in LatAm works very differently, with varying legislation, processes, and standings on the igaming space. Entering multiple countries in LatAm involves starting from scratch in each one.

“Legislation regulating igaming is also very new in LatAm and there are various rules and specifications to abide by in each country that differ from the next. Not reviewing them thoroughly or understanding clearly can lead to obstacles, hindering the ability for potential merchants to do business in the region. These are important realities European companies must account for when considering entering LatAm.”

Hendrich, who has two decades of legal experience in Brazil with expertise in gambling regulation after spending eight-years in the industry, added: “Online IPS is a registered payment facilitator in the LatAm region with local offices in the countries we operate, with teams in each specializing in the operations and regulations of each country. We have offices in Brazil, Colombia, Peru and Mexico with Chile on the horizon for the end of 2022. The partners and management staff of Online IPS are seasoned professionals with decades of combined experience in the international payment industry. The best insight we can give into the LatAm market is that having a local strategy/approach is the best way to succeed in the region. This is exactly what we can offer our merchants, to aid in their success in the region and ease entry to market barriers.”

Welcoming the return of ICE London he said: “The industry has certainly missed the show. ICE is a critical component of the industry and with the sector going through so many changes and growth in the last couple of years, the industry is definitely ready to come together during ICE and immerse itself in all the new opportunities the space has to offer.

“In-person interactions create a sense of community, connection, and empathy that digital communications technology cannot match. As a merchant service provider, we not only place great value in the customer service we provide but the close relationships we build with partners and merchants. It’s the intangibles that count, such as a new connection formed over a drink or a degree of trust established from a friendly conversation and a handshake. These are what help us as a company, to build the trust needed to develop the tailored-made solutions merchants require to succeed. Ultimately attending ICE helps us keep our finger on the pulse of what is going on in the sector and allows us to do a more thorough analysis through conversations, discussions and the overall show environment. It’svitally important.”

Compliance Updates

Compliable Expands Licensing Offering to Europe and Latin America

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Leading licensing management solution now supports new global markets

Leading compliance software provider Compliable is now supporting licensing in European and Latin American markets, further strengthening its proposition following a successful period of growth in the United States.

With experience of working with prominent industry brands including FanDuel, Bet365 and BetFanatics in North America, Compliable’s platform can now help companies complete, manage and maintain gaming licenses across multiple global jurisdictions.

Compliable is expanding into new markets at a time of increased regulatory obligations in numerous regions as well as a heightened demand from suppliers and vendors to get licensed from a reputational point of view.

Markets in Europe as well as emerging regions in Latin America are now supported by Compliable’s software solution, which enables operators and suppliers to enter new countries more quickly and reduces the ongoing burden of regulatory requirements.

Compliable’s software platform and tools provide customers both significant time and cost savings, as employees enter key information just once in the licensing process with the information then auto-populated across multiple forms, generating error-free applications every time.

The solution cuts the time it takes to get employees licensed by 90% to less than an hour, which has led to an increase of up to 700% in the number of employees that can be onboarded.

“Following discussions with our customers and prospects, it became clear that there is a demand for our market-leading licensing management solution outside of the United States and we are pleased to now be able to streamline the licensing process for even more companies in additional jurisdictions,” the Chief Executive Officer for Compliable, Chris Oltyan, said. “Licensing compliance can slow down your ability to expand into new markets but it doesn’t have to. Using our platform to remove bottlenecks in the acquisition and management of licenses frees up time and attention so our customers can focus on their go to market plans.”

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Latin America

Hub88 launches content with Betano in Buenos Aires, Argentina

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Platform provider Hub88 has rolled out a selection of its content offering with Betano in the Buenos Aires region, further boosting its ecosystem of partners and expanding its growth across LatAm.

Kaizen Gaming, Betano’s parent company and one of the biggest GameTech companies in the world, can now offer its Argentinian customers titles from OneTouch and Bombay Live, providing a wide range of slots and luxury live casino experiences.

 The partnership sees Hub88 strengthen its position as a leading platform provider in LatAm, with a wealth of local knowledge and content proven popular with regional audiences.  

 Hub88 welcomes the premium Betano brand into its ecosystem, which consists of content from over 100 suppliers as well as a wallet and services from top notch providers with a proven track record of helping gaming industry companies.

 Maximiliano Majo, Head of LATAM for Hub88, said: “This partnership represents the ambitious start we’ve made to the new year, and our commitment to grow in LatAm, a key region for Hub88 in 2024.

“We are investing to be a leading provider in the continent, offering a next generation casino aggregation platform with the largest content library in the industry and a powerful back office, and together with Kaizen Gaming, the global GameTech powerhouse, we significantly cement our presence and reach new audiences.”

 Christos Mavridis, Head of Live Casino at Kaizen Gaming, stated: “Hub88’s offering is a great addition to our online casino and will provide luxury live experiences and unique slots to our customers. As we grow the Betano brand in LatAm Hub88 will be a great partner and we look forward to a successful collaboration that will inspire Argentinian punters.”

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Latest News

GR8 ICE London Highlights: 3 New Clients & LatAm Expansion Plans

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GR8 Tech’s edition of the last ICE in London, with over 300 meetings held, marked a successful start to the business year, bringing the company several new clients and laying the groundwork for its expansion into the Latin American region.

“While the latest ICE in London was not primarily focused on generating new leads, it proved to be an invaluable platform for reconnecting with industry peers and reigniting old conversations. GR8 Tech capitalized on this opportunity, finalizing discussions with several operators and thus adding three new clients to our growing portfolio. We look forward to the start of this cooperation and delivering results for our client,” said Evgen Belousov, GR8 Tech CEO.

GR8 Success Formula: Expanded Stand, Engaging Quiz, and Crisp Winning Mentality

Over the course of three action-packed days, GR8 Tech’s stand drew crowds with its dynamic and engaging setup. Among the highlights was a Formula 1 race car equipped with a cutting-edge VR experience, capturing the essence of GR8 Tech’s ‘top pit crew’ mentality and illustrating the company’s commitment to excellence. This feature proved to be a magnet for visitors, gathering non-stop traffic throughout the course of the event – over 60 participants every day.

Adding to the excitement, the GR8 Quiz was successfully held on the second day of the exhibition, gathering over 100 participants. The quiz concluded with one lucky quick thinker winning tickets to the F1 Dutch Grand Prix 2024.

All this happened against the backdrop of a GR8 exhibition centered around GR8 Tech’s high-performance Sportsbook platform, renowned for its unique margin management capabilities, reliability, and scalability. Denys Parkhomenko, GR8 Tech CPO and the key person behind the GR8 Tech platform shared his impressions from ICE, stating, “Along with other GR8 products, the platform attracted a lot of interest from operators and received excellent feedback after the demos. I’m excited to see that because it affirms GR8 Tech’s direction and strategy in the highly competitive iGaming market landscape.”

GR8 Trajectory: New Hires and LatAm Expansion Plans

In a strategic move to broaden its global footprint, GR8 Tech is to expand its presence in the Latin American region. This initiative was highlighted by the introduction of Thomas Carvalhaes, a known Brazilian iGaming executive with over 12 years of experience, who has joined GR8 Tech as a Senior Business Development Manager. Carvalhaes’ expertise in the LatAm iGaming landscape is expected to play a pivotal role in the company’s growth strategy.

“Thomas will lead GR8 Tech’s expansion into LatAm, an incredibly interesting region for us considering its explosive growth, bolstered by strong mobile Internet usage that feeds a high demand for streaming and esports along with traditional sports. With our deep market experience and a compelling product lineup, including our versatile high-performance GR8 Sportsbook tailored to local tastes and a robust casino offering for business monetization, we are ready to offer operators in the region—and globally—reliable, predictable, and profitable

solutions, fostering success in our lifetime partnerships,” highlighted Yevhen Krazhan, Head of Global Sales at GR8 Tech.

Looking ahead, GR8 Tech is set to delve deeper into the Latin American market with its participation in the upcoming SBC Summit Rio from March 5-7, 2024. Thomas Carvalhaes will take the stage as both a speaker and a moderator, engaging in discussions on Affiliate Leaders and Localized Marketing Approaches. The team aims to leverage these opportunities to gain insights into local trends and challenges, further strengthening their position in the region.

The momentum will continue with GR8 Tech’s presence at SiGMA Americas in April, where the company plans to showcase its products and solutions tailored to meet the specific needs of local operators. With a clear vision for the future and a solid plan in place, GR8 Tech is poised to continue its trajectory of growth and success in the iGaming industry.

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