Carbon-copying ‘not enough’ to win over LatAm consumers

Carbon-copying ‘not enough’ to win over LatAm consumers

Wednesday, September 13, 2017 Posted by James Walker
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Alejandro Casanova: ‘Operators merely renewing previous entry strategies will likely come up short in their goals for success’

Learning from customers to create better products is key to success in developing jurisdictions, according to R. Franco Group’s new business development director and chief digital officer, Alejandro Casanova.

“With more and more regulators warming to the idea of iGaming in Latin America over recent years, operators and suppliers alike are flocking to the region to see if they can take advantage of the huge untapped potential it offers.

As we know from the land-based industry, Latin America hosts some of the most passionate gamers around, many who would welcome the switch to digital platforms if the choice and quality of product were to increase.

This may sound like a similar story to that of various European markets over the last decade, and to some extent it is – but operators merely renewing previous entry strategies aimed at the likes of Spain and Italy, for example, will likely come up short in their goals for success in LatAm.

To integrate successfully in both that market and more mature European jurisdictions, it is important for companies to tailor their operations, ensuring they engage local players and stay on the right side of relevant regulators.

Carbon-copying previous business plans is not enough to win over today’s bettors, who are savvier than ever before and have specific local needs.

This can only be done through the utilisation of extensive local knowledge. Only by knowing how players source their games, how and when they play them, and what they look for in each game’s features, can operators truly succeed across each individual country.

A ‘one-size-fits-all’ approach will come up short with competition greater than ever. Operators must learn from their customer bases, and adapt their products accordingly.

This not only increases engagement levels among players, but also allows for operators and suppliers alike to learn and develop new products which have the potential to be used elsewhere.

From our experience across both Europe and Latin America, backed up by huge data-sets from our IRIS platform and multi-regulation RF-On terminals, as well as strong operational expertise, we can see the type of games that are relevant to individual territories, and with this information we have been able to shape offerings to our partners accordingly.

The omni-channel IRIS platform hosts more than 1,500 games, covering various themes and appealing to all types of players, providing operators with the tools to provide a bespoke, successful offering across all territories.

Users of the platform can also be confident in the knowledge that it accommodates best in class regulatory software within Spain, as well as various LatAm jurisdictions.

This includes our market-leading Vault module, featuring the latest in security measures, which offers operators the peace of mind that their operations are both safe and within the law.

Operators will also be looking to exploit the highly-lucrative mobile market in Latin America in the coming years, which currently accounts for just a fifth of its remote gambling gross win.

This, in turn, totals only 6.3% of the gross gaming win across the whole region in 2017 – meagre compared to the almost-half of gross win from mobile we have seen in Europe.

This will be a huge test for operators who have Europe-focused core products, which may struggle to work to the requirements of players and regulators. Therefore, it will be more important than ever to work with those with a working knowledge of the local area to adapt products and games to be suitable from the off.”

Totally Gaming says: R. Franco Digital has grown significantly from its Spanish core market over recent years, developing strong expertise within the various territories it operates in. Operator partners can take advantage of this as they look to appeal directly to a new type of player and stand apart from the competition.

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