South America and its World Cup opportunities

South America and its World Cup opportunities

Wednesday, May 9, 2018 Posted by Craig Davies
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Betgenius' new hire Alonso Jibaja explains

For much of the betting sector, South America is gradually moving from an emerging opportunity to a very real and present one. While much of the continent remains grey in terms of regulation, Colombia’s shift to a regulated market has been deemed a success to date, and two further nations offering big potential, Peru and Brazil, could have a licensing framework in place in the near future.

The region has also become a firm focus for Betgenius, the sports betting supplier which has recently appointed the experienced Alonso Jibaja to head up its growth across the continent.

And with the World Cup just around the corner, 2018 could indeed be viewed as a turning point for sports betting in South America. Football is by far the biggest betting sport in the region, accounting for as much as 90% of turnover, according to Jibaja, who told how a World Cup could aid the growth period that the region is currently experiencing.

“Sports betting, and the gaming industry in general, was slow to grow at first but the past couple of years has seen it start to explode.

“The World Cup comes at a great time and I’d expect many operators to grow around 30-35% in terms of turnover for the month. That is mainly because, not only do we have South American teams in the World Cup, but also because it increases the number of matches that people can bet on.

“But the fact of having, for example, Peru playing in the World Cup after 36 years, this is going to have a huge impact in Peru for sure. Panama have also qualified, and that brings a lot of people who are interested, and could start betting on their team, and betting on other teams too.

“So, I believe it brings a lot of impact, especially in South America because we’re very passionate about football. We love our teams, even if they don’t win we still celebrate, that’s how mad it is.”

Jibaja points out that with greater levels of regulation on the way, operators are going to have to work hard to stay ahead of competition – both domestically and internationally. South America has attracted many global sports betting brands in recent years, whose technology and UX is naturally ahead of some local operators. As the market matures, Jibaja says, competition is only going to grow.

“Many operators in South America, of all sizes, are taking a long hard look at their sportsbook technology and content suppliers and assessing if they are sufficient for the new era.

“For example, do they have enough flexibility to stand out and differentiate in terms of innovative betting products, pricing and UX? Do they have the range and depth of in-play trading to support the enormous appetite for live betting content? These are big questions for operators right now and the World Cup brings them into sharp focus.”

"As a business with vast experience of working in highly regulated markets, Betgenius is the perfect partner to support sportsbook growth in this exciting, fast-changing region.”

Totally Gaming says: With such a vast population of sports mad enthusiasts, the prospect for sportsbook operations within South America could very well be huge, not to mention the wider discussion of the gaming world too. The Russian World Cup also provides the perfect opportunity to piggyback interest, particularly in the regulated Colombian market.

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