Huge potential for Brazil and Colombia’s gambling market
Latin America offers great potential for the gaming market! SiGMA TV interviewed Allesandro Valente, from Super Afiliados and Ingrid Alvarado, Partner at iGaming Colombia, providing a super interesting discussion that encompasses aspects of these two booming markets, such as regulation, gaming verticals, strategies and challenges in the respective regions.
Colombia’s market is mainly focused on sports betting, with around 75% to 80% of the revenue coming from sportsbooks. However, with the current health crisis this scenario has changed a bit and opened more space for discussions about online gaming verticals, since the regulation in Colombia allows you to broadcast casinos, not only from studios but also from land-based casinos. Thus, this can be seen as a great opportunity for casinos that are still closed due the pandemic to expand their portfolio, using their casinos also as studios. Ingrid highlights that they are just waiting for the regulators to issue the technical requirements and the first land-based casino therfore other providers will be able to go live.
Ingrid also highlights that Colombia is still a young market, regulated in 2016 with a very complete legislation that includes casino games, virtual games, sports betting, eSports and recently, live casinos. She also emphasises that all the taxes collected from the industry are addressed exclusively to the health system in Colombia, which has significantly helped the country, especiallyduring these difficult times.
Watch the full video here:
From the Brazilian side, Allesandro Valente declares that the regulatory aspects in Brazil are emerging faster than expected when the pandemic crisis started. Although Brazil still has a long way to go with regulating the market, authorities have demonstrated positive positions about the topic. The Brazilian minister of economy has just signed a resolution that approaches sports betting in a first place as a measure to help the Brazilian economy to recover from the crisis. In Allesandro’s opinion the regulation of the sector in Brazil offers a great potential to the country’s development, generating more jobs and taxes, and bringing entertainment to the country.
Another important aspect addressed in the interview was about the affiliate’s scenario in Brazil. Allesandro states that Brazil does not have as many affiliates as Europe, for example. He’s sure that Latin America lacks this sometimes. However, the amount of players generated by affiliates in Brazil is quite substantial, and the contribution has now also increased with the interest of people that can probably just work from home, building data bases or websites, or using their social media to promote sports betting and gambling in general. In his opinion Brazil has a very good scenario for affiliation and events such as Afiliados Brazil Conference, São Paulo Affiliate Conference and now SiGMA LatAm are also promoting affiliation in the country.
Although Brazil and Colombia face different challenges, both of them come to terms with the fact that there are some common challenges, such as the operations of illegal websites and also the financial system. Moreover, they see their respective regions as having a great potential for the gaming market.