SBC News Voice of the Sports Betting Industry
What does it take for a sportsbook operator to succeed in the dynamic and diverse markets of Latin America? Drawing on insights from current market leaders, overarching trends, and extensive experience on the operator side of the business, the answer, according to GR8 Tech’s Senior Business Development Manager Thomas Carvalhaes, centres around one pivotal element: localisation.
In a region as culturally and geographically varied as Latin America, understanding and integrating into each local context isn’t just beneficial – it’s essential for capturing the nuances of consumer behaviour and preferences. This understanding leads the way in shaping sportsbooks that are not just competitive but deeply resonant with the local audience.
Diverse local preferences – unique for each market within the region
You don’t need to go far for evidence of the great importance of localisation – it’s vividly illustrated by examining Latin America’s unique sports betting preferences. Not to mention all of them, as it would take a really long piece of thought; let’s take a look at the diverse markets of Brazil, Peru, and Chile – each at different stages of regulatory evolution but all highlighting the critical need for tailored betting experiences.
In Brazil, the enthusiasm for football is unparalleled, with substantial bets placed on national leagues like the Brasileiro Série A and international competitions such as the UEFA Champions League. Meanwhile, emerging trends like esports, particularly CS: GO, are gaining traction among bettors, highlighting the importance of adapting offerings to include these growing interests. Basketball and volleyball also command a significant share of the betting market, reflecting their national popularity.
Chile offers a broader canvas of interests, including culturally significant sports such as rodeo, surfing, and skiing, which, while popular, remain underrepresented in betting markets. This indicates potential opportunities for sportsbooks willing to tap into these unique preferences. Like Brazil, tennis in Chile sees high betting volumes, underscoring the potential for sportsbooks to capitalise on this sustained interest.
In Peru, traditional favourites like football dominate, but there is also considerable interest in local sports like Paleta Fronton and bullfighting, which, although popular as spectator sports, see limited betting activity. This highlights a niche market that could be explored more fully. The presence of MMA in the betting scene, as opposed to traditional martial arts, also suggests differing dynamics that could inform targeted betting offerings.
These are just a glimpse into the complex landscape of sports betting preferences across Latin America. But localisation isn’t only about aligning with content preferences; it involves a nuanced understanding of user behaviours, market-specific regulatory conditions, traditions, and other local factors that influence betting activities.
Market entry strategies should be backed by knowledge and tech
To successfully enter and expand within the Latin American market, sportsbooks must prioritise localsation in all its holistic view, with all of the elements playing a critical role in tailoring sportsbook offerings to meet each market’s specific demands and preferences. However, it’s no small feat to achieve on one’s own – especially if this someone doesn’t have previous experience within the specific market.
Effective strategies for operators involve forming strategic partnerships with the right providers – those who not just promise quality technology but can tell you everything about local contexts and adjust the platform to match them exactly, supporting local audiences’ successful long-term adoption of the sportsbook.
Coming from extensive operator experience, I’ve developed a knack for recognising quality providers, and it’s no coincidence that I chose to work for one when the time came. When I say GR8 Tech is everything an operator should look for, it’s not just because I work here now.
I genuinely believe in the capabilities of our GR8 Sportsbook platform. It offers unparalleled customisation capabilities, enabling operators to tailor content and frontend experiences to enhance user engagement.
Our technology is designed to support fast payouts and provide reliable and empathetic customer service, ensuring the end users a seamless and enjoyable betting experience. And for the operators, the margin management tools ensure the sportsbook operations are not just engaging but predictably profitable in the long run.
As we prepare for our showcase at the BiS SiGMA Americas show next week in São Paulo, we invite you to visit us at stand B40 to discover how GR8 Tech can help you capitalise on the unique opportunities in Latin America’s sports betting market.
