Land-based operators across Latin America are making the jump to online in droves, with the pandemic only serving to accelerate this trend. These operators may, however, find the move more difficult than anticipated – established retail markets will be difficult to topple from their perch and companies rushing to set up a sportsbook or casino may succumb to any number of pitfalls in their haste.
The omnichannel experience is now paramount to long-term success in the betting industry – a presence both on and offline is key to attaining a high level of player engagement and retention. There are major opportunities for online betting in Latin America and, with the right platform, committing to a digital presence can result in serious gains.
From our extensive presence in Latin America, we have seen a surge of sportsbooks and casinos embrace the online market following changes in regulation, and it is clear that Quantum is the ideal platform for these markets. Quantum is customisable, allowing operators to tailor the product to their own specific needs – by offering such a versatile platform, operators looking to establish themselves in emerging markets and create a player-centric betting experience can do so.
The conversion of retail players to online represents a major undertaking; the offering that customers expect may differ greatly from one market to the other. Easing this transition is paramount – is the quality of an online slot expected to be equal to that of the land-based one? Should there be additional features online, such as gamification?
In addition, land-based operators and bettors will be accustomed to gambling in a certain way, so offering a seamless omnichannel experience is critical. The Quantum platform offers an accelerated time to market with true product localisation, with a streamlined, user-friendly back-office for agents, a flexible banking system, and cash-in, cash-out and voucher processing, making valued customers feel they are being supported at every step of the process. When catering to multiple different markets, each with their own unique intricacies, our expertise is unmatched – too often, we see regions like LatAm and Africa generalised, grouped together into non-specific territories with catchall solutions applied to them that simply do not work. We are well aware of the idiosyncrasies of each territory, and devote considerable effort to catering to the individual needs that each customer base has.
The betting industry has a landscape that is rapidly shifting in its approach to omnichannel betting offerings, and this constant shift must be mitigated by platform developers to ensure the player is transitioned efficiently. Platforms like Quantum, which offer a web app with no installation required and cross-device support, make the move an easier one, especially for a customer base unfamiliar with online gambling. Platforms such as these have been developed with the specific intention of easing the transition, with scalable tech that can adapt to any and all of an operator’s needs, whether this be accurately transposing an existing land-based model to digital or building a brand new online identity from the ground up.
Having a diverse platform in place that can handle a number of iGaming verticals at once, including mobile, web, and POS for retail, streamlines the process for an operator and allows them to integrate themselves quickly into markets that are frequently changing. Sportingtech has a breadth and depth of knowledge on LatAm not seen elsewhere, demonstrated by our recent recognition by the Brazilian iGaming Awards as Best Platform Provider, and employing our platform along with the expertise behind it mitigates a lot of the risk involved in the retail to online move. Quantum is able to employ Risk Management to ensure customers enjoy a safe and secure payment experience without adding unnecessary hurdles to the betting experience and payment process.
The omnichannel experience has become an incredibly important aspect of the modern gaming landscape, and the two spaces dovetailing is a viable future for the industry. Many gambling markets still rely heavily on land-based establishments, so we must devise strategies to retain that player base while attracting players to newer online offerings.
The development of an omnichannel experience, especially when considering younger markets in LatAm, is best approached as a natural evolution – the objective is not to cannibalise existing player bases, but to provide players with more options and a greater level of engagement through the medium of multiple channels.
The road to creating and maintaining an effective online presence in Latin America is fraught with difficulty, but the right platform provider can remove a lot of the danger. A company like Sportingtech is positioned in such a way as to make the countless possibilities of the online space a reality.
Jack Smith
Sportingtech Sales Director
