With the LatAm market continuing to fulfil its untapped potential, there is still plenty of decision-making and exciting news to come from the region. With a vision to succeed in Latin America, we sat down with Altenar’s Americas’ Regional Director, Hugo Llanos, to discuss what he believes will happen in the next 12 months.
Talk us through Altenar’s vision for LatAm and success in 2022 – what’s been key to making Altenar one of the most popular providers in the region?
Altenar is one of the best sportsbook platforms currently operating in LatAm. We support and provide our award-winning service to some of the most important operators across multiple countries throughout the region, such as Brazil, Peru, Ecuador, Colombia, Mexico and all the way up to Canada. I believe our success lies in both our flexibility and ability to be truly more of a partner in success to our operators, rather than just a provider. We work hand in hand with each of our customers in order for us to help them achieve their objectives.
In your view, how is the LatAm market currently faring? Is it ahead of where you expected to be or is there more work to be done?
The industry used to think of LatAm as the next big thing, a place full of potential that was sitting there waiting to be served. Now a very established continent for online betting, I believe LatAm has already proven to be a very important region for sports betting and iGaming, and one that is really rewarding to the right brands. To achieve that, it has taken local content, local knowledge and a different way of reaching out to the customers. We have come a long way and you can see there are many operators within the region working hard on getting their brands known. Just like all success in business, there’s always more work to be done, but this time I believe it would be more in terms of regulation as the products are now innovating in their own right.
The decision on Uruguay’s bill is set to be discussed further in March. If legislation passes there, how successful do you think that region will be?
Uruguay is a small country in terms of population, but it has always been ahead of the new trends when it comes to discussing hot topics and even including new laws. I honestly believe Uruguay regulating sports betting will really put pressure on others within the region to regulate themselves – and one would hope it would provide a further domino effect for new markets to come online.
Colombia was the first to have the bill passed and they began regulated online gambling in 2016. What does the future hold for quite a mature market now?
Colombia is a real case study of success for LatAm. Since the very beginning of its regulatory process, they had operators signing up and working from the off. Right now, 17 operators are now live in the country, and more licences are expected to be issued in the very near future. Thanks to Coljuegos’ pro-active approach, the local audience was able to find quality entertainment, with the government providing a trusted environment for it to be enjoyed. The economic benefits are also clear, as the iGaming industry creates a lot of jobs directly and indirectly for Colombia given the funding provided via taxation of the industry. As we can see, regulation, when done correctly like Coljuegos has done, is a win-win situation. Of course, given such a conducive environment, I see plenty more room for the industry to keep growing there.
What makes the LatAm market different from any other across the world and why is it so appealing?
For me, it’s two key things – the first being the sheer size of the population (just look at Brazil!), as well as of course the pure passion Latin America has for its sports. Of course, this passion translates into betting and given the demographics, it has the potential to unlock an extensive potential customer-base. As is well known, most of the continent speaks the same language (although each country has its slight variations) except, of course, for Brazil, which in many ways is a sub-continent in its own right and one which holds significant appeal for the industry once it properly regulates.
Where do you see the LatAm region a year from now?
I do believe more countries will be regulating their online environments, and this will create a scenario under which many more providers will be emerging onto the scene, which will no doubt fuel competition, and in turn, innovation. Alongside that, the need to differentiate will create a greater imperative to take a fresher approach to marketing and advertising, but it is no doubt a challenge that the best brands will welcome, as all businesses should. For me, working with LatAm for so long has been a very fun place to operate, and I’m very happy to be part of such an exciting journey.
ReactivAction Limited Partners with Fast Track to Underpin Growth Strategy, Starting with the Brazilian Market
ReactivAction Limited, an ambitious new player in the iGaming industry offering online casino games and sports betting, has gone live with Fast Track, marking a strategic move to cement a stronghold across multiple markets, starting with Brazil.
This partnership not only marks a dynamic alliance but also a ground-breaking integration of Fast Track with Altenar’s renowned player account management (PAM) platform. This innovative collaboration highlights Fast Track’s exceptional ability to seamlessly integrate with various leading iGaming systems, further cementing its position as the industry’s most versatile and adaptable CRM solution provider.
With plans to expand beyond Brazil into Canada, New Zealand and Ireland through a second brand, ReactivAction Limited was on the lookout for a long-term partner that not only understands its growth trajectory but is also a critical driving force behind its growth. By leveraging Fast Track’s state-of-the-art AI-driven tools, lifecycle automation and real-time data analytics, ReactivAction Limited is poised to elevate its player engagement and retention strategies. This advanced technology empowers ReactivAction Limited to customize communications, personalised promotions and bonuses, aligning them with individual preferences and behaviours for a more tailored and engaging gaming experience.
“We were looking for a platform that sets us up for success from day one, making it possible to execute and automate the entire retention strategy, a system that could scale and mould around our expansion and provide solutions to our unique challenges,” the Director for ReactivAction Limited, Leone Stranges, said. “Fast Track’s lifecycle templates, real-time capabilities and experience within the industry made it a straightforward choice.”
“We are always excited at the prospect of empowering a forward-thinking operator through our platform,” the founder and Chief Executive Officer for Fast Track, Simon Lidzen, said. “We look forward to a fruitful long-term relationship to support ReactivAction Limited’s growth trajectory as it expands its brand into new markets.”
Altenar – How will Brazil and Mexico fare in 2024?
The winds of change are sweeping across LatAm, with the creation of a regulatory framework now in motion. Over the coming months, legislators will attempt to build a structure that works for all. Altenar’s Americas Regional Director, Hugo Llanos, offers his expert insights on why Brazil holds the ‘most promise’, and how its more established neighbours have offered valued lessons ahead of what could be the provider’s biggest year to date.
The hottest news for Brazilian operators is the regulation of sports betting being approved in December. You have previously stated Brazil holds ‘the most promise for businesses’ – how does this development drive Altenar forward in its growth for the coming year?
Regulation in Brazil presents a positive opportunity for everyone in the industry, as with regulation comes greater trust from players and hopefully, increased channelisation. They can be confident in the knowledge they are entertaining themselves in a modern, fun and safer environment.
We are opening an office in LatAm looking at improving our business support, with the aim of being closer to our partners in the region.
There are opportunities abound for those willing to grasp them and Brazil’s regulation has given the green light for innovation and creativity. This now means that Altenar can press ahead with its work to develop the best tools and features designed specifically for the Brazilian market.
Mexico is a booming market, with an estimated 40% of Mexicans betting on sports in some form in 2023. What opportunities lie ahead of Altenar’s expansion in the country for the coming year?
Mexico has always been an intriguing sports betting market and for us, it is a close second to Brazil. It is a substantial market with a growing economy, which saw a quarter of bettors wager on sport for the first time in 2022. This, for us, represents huge growth.
In 2024, we expect further opportunities and innovation to fuel our success in Mexico. Brazil is of course the newcomer, but it would be foolish to take our eyes off the ball in other territories, like Mexico, Peru and Chile.
How do you differ your offering in LatAm regions, compared to European territories? What are the key differences in LatAm players’ needs?
The key differences between LatAm and European markets are in the user experience, not the product itself. The way a sports betting website is presented to a customer in LatAm is different to how it would appear to European players due to differences in taste. A player in LatAm may like some promotions over others, for example, or certain sports in Mexico, such as American sports, are more popular than in Europe. It is essential to make the experience intuitive and as seamless as possible for players who are accessing the content from their home countries.
What do you anticipate being Altenar’s legacy in LatAm by this time next year?
We are working hard to ensure we listen and collaborate with our customers, and to engage in discussions to make sure the product we offer meets their needs. We listen, help formulate their ideas and then help them achieve their objectives. For us, it is about making that distinction between partner and provider – we will never just offer a product without supporting customers to get the most out of it. By this time next year, I hope we will see the market in Brazil live, with a robust regulatory framework, and a number of additional partnerships.
How important is the Mexico market for the LatAm region?
Mexico has been a vital cog in LatAm’s crown, with Altenar establishing itself as a major player in the market. With growth continuing to climb in the territory, we caught up with Altenar’s Regional Director Americas, Hugo Llanos, to discuss his thoughts on the impact the current market is having and what it will look like over the next five years.
Talk us through Altenar’s presence on the Mexican market – what do you see as your key highlights in regard to bringing your partners commercial success?
We have been present in the market for a few years now and have enough experience to know how to do the proper risk management, and we know what our customers enjoy. In addition to that, we also believe we have the best tools to provide our partners with promotions and bonuses available to drive turnover.
What makes Altenar a key difference maker in Mexico – what do you see as your USPs vs. your competition?
I believe our bonus tool is probably one of the best around, even though the sportsbook is not necessarily known for its bonus management. However, it allows our partners to work with customisable promotions for their partners. Also, we are always open to new ideas and developments required by our clients in order to help them achieve their objectives.
Looking at the Mexican market as a whole – what do you see as the key characteristics of the market? What’s the share of online vs. retail and how are trends changing?
Football is very important for LatAm, as the sport is well liked across the region by fans of all demographics. There are also enough customers who have expressed an interest in US sport and this is important for the region as a whole. I also believe the average stake is a bit higher than in the rest of LatAm, which is an interesting point within itself. Online is definitely growing and should be closer to 70%, and as common as the rest of the region. It is a fascinating market with fascinating results and we will keep a close eye on this over the coming months.
How can Altenar support Mexican operators in changing player trends / particular sport preferences over the coming years? What do you have planned?
Any platform needs to stay updated and at Altenar, we are constantly working on the offer, trends and preferences. We understand this part of the business very well and work towards achieving this constant innovation. Our Bet Builder tool was introduced to our customers a while ago and we have also just released some new sports and new markets to combine, alongside unique functionalities in the sportsbook such as player props. This is an exciting time to be a part of Altenar in the region and we are confident we can be a huge player here in the years to come.
Last but not least – what’s your prediction for Mexico over the next five years – how much do you see the market changing?
I believe there will be more participants in the market and a good environment for the online industry to keep growing. LatAm, as a whole, is expanding and although Mexico is a more mature market than many others, the potential to extend our offering across the territory is exciting for us so we are looking forward to seeing how Mexico progresses over the new few years. I believe the changes will be very positive as the jurisdiction becomes more established.
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