Chris Nikolopoulos: “The primary catalyst for LatAm expansion will stem from forthcoming legislative changes anticipated to be implemented in various key jurisdictions”
Chris Nikolopoulos, chief commercial officer at Betby, shares insights into the company’s expectations for SiGMA Americas 2024.
Exclusive interview.- The Latin American gaming industry is getting ready for one of the biggest events of the season, SiGMA Americas 2024, which will take place April 23-25 in Sao Paulo.
Ahead of the event, Chris Nikolopoulos, chief commercial officer at Betby, granted an exclusive interview to Focus Gaming News, where he revealed that the company will spotlight its comprehensive sportsbook solution alongside its recently unveiled AI-driven sportsbook tools at the expo.
Nikolopoulos also shared his insight about the LatAm gaming market potential and differences between LatAm players compared to other regions.
What can attendees expect to see at Betby’s booth during SiGMA Americas?
At the upcoming event, Betby will spotlight its comprehensive sportsbook solution alongside its recently unveiled AI-driven sportsbook tools.
A pivotal emphasis will be placed on its extensive array of sports content, facilitated by a curated selection of top-tier official data feeds. This not only ensures a wide variety of content but also guarantees rapid data delivery, enhancing the excitement of live betting through swift market updates.
Moreover, our team eagerly anticipates demonstrating to local operators our ability to provide content for niche sports events through our dedicated, in-house trading team.
Given the surge in popularity of esports in Brazil, Betby will also present its MGA-approved esports odds feed solution. This comprehensive offering includes pre-match and live odds, round-the-clock content coverage, a statistics hub, and result reporting. It can seamlessly integrate with the Betby Sportsbook solution or function independently as an esports data feed.
A significant draw will undoubtedly be our cutting-edge AI-powered sports betting tools. These tools enable personalized betting experiences, automate risk management for quicker detection of suspicious activity, and utilize advanced models to predict player churn and accurately assess the lifetime value of individual players.
Betby has been recognised on numerous occasions. With technology advancing faster and faster and competition growing, what are the keys to staying competitive?
In today’s dynamic landscape of sports betting, staying attuned to the ever-evolving demands and preferences of players is not just crucial but imperative for success. Players are the cornerstone of any sportsbook solution, and it’s essential to place them at the very centre of the ideation process.
In our modern digital age, consumers expect seamless access to digital and mobile platforms for almost every aspect of their lives, including entertainment and leisure activities like sports betting. Therefore, it’s not merely sufficient to meet these expectations but imperative to exceed them, providing an elevated and immersive betting experience that resonates with players on a personal level.
This entails not only offering convenient and user-friendly digital and mobile options but also incorporating innovative features and functionalities that enhance the overall betting experience. Whether it’s through intuitive user interfaces, personalized recommendations, or engaging live betting experiences, the goal is to create a seamless and enjoyable journey for every player.
Moreover, as a sportsbook supplier, it’s essential to remain vigilant and proactive in monitoring emerging technologies and industry trends. The landscape of sports betting is constantly evolving, with new technologies, regulations, and consumer behaviours reshaping the industry at a rapid pace. Staying ahead of these trends and embracing innovation is key to staying competitive and meeting the evolving needs of players.
Ultimately, success in the sports betting industry hinges on the ability to deliver what players want and need. This requires a deep understanding of player preferences, a commitment to innovation, and the flexibility to adapt to changing market dynamics. By placing players at the forefront and continuously striving to exceed their expectations, sportsbook suppliers can maximize their potential and thrive in this dynamic and highly competitive industry.
As a sportsbook supplier, it’s essential to remain vigilant and proactive in monitoring emerging technologies and industry trends. The landscape of sports betting is constantly evolving, with new technologies, regulations, and consumer behaviours reshaping the industry at a rapid pace.
“As a sportsbook supplier, it’s essential to remain vigilant and proactive in monitoring emerging technologies and industry trends.”
Chris Nikolopoulos, chief commercial officer at Betby.
Does the LatAm market have the potential to establish itself as one of the leading markets on a global level?
For a considerable time, Latin America has been recognized as a significant emerging market within the online gambling industry. However, impending regulatory adjustments are poised to solidify its status as a primary area of strategic emphasis on a global scale.
According to a recent report unveiled today by Vixio Regulatory Intelligence, a premier provider of regulatory and business insights to the global gambling and payments sectors, Latin America’s regulated online gambling market is projected to expand fourfold, reaching an annual revenue of $6.75bn by 2027.
While established markets within the region exhibit considerable growth potential, the primary catalyst for expansion will stem from forthcoming legislative changes anticipated to be implemented in various key jurisdictions. Brazil’s recent regulatory developments mark a significant milestone, with Peru and Chile also slated to introduce licensing frameworks for online gambling potentially as early as this year. These initiatives follow the footsteps of regulatory actions taken in Colombia, Mexico, Panama, and select provinces of Argentina.
Needless to say that considerable anticipation surrounds the crown jewel of the region, the regulated Brazilian market, which is projected to generate nearly $3 billion in revenue by 2027.
“Latin America’s regulated online gambling market is projected to expand fourfold, reaching an annual revenue of $6.75bn by 2027”
Chris Nikolopoulos, chief commercial officer at Betby.
What differences do you find between players in the LatAm market when compared to other regions?
While there are overarching similarities among betting markets worldwide, succeeding in Latin America requires a nuanced understanding of its unique characteristics. These variances range from practical aspects like language and culture to subtler nuances such as gambling preferences and local approaches.
One notable commonality that Latin America shares with the rest of the world is its fervent passion for football. The enthusiasm for sports across South America is remarkable, with football reigning supreme, fueled by powerhouse nations like Argentina, Brazil, and Colombia, along with iconic footballers such as Lionel Messi.
Yet, it’s important to recognize that the market in Latin America is not as mature as its European counterpart, presenting both significant opportunities and challenges. Without a thorough grasp of the region’s intricacies, navigating these hurdles can prove daunting. For instance, while football holds sway across the region, Mexico exhibits a notable inclination towards US sports compared to other Latin American countries.
Crafting a successful sports betting offering requires tailoring it to local preferences and messaging. While interest in betting on global football icons or prestigious tournaments like the UEFA Champions League and FIFA World Cup persists, there’s also a substantial demand for domestic leagues such as Brazil’s Serie A and Mexico’s Liga MX.
Although countries like Mexico and Brazil may boast more developed betting landscapes than their neighbours, the fundamental 1X2 market remains the preferred choice among local punters. Markets like corner bets and player-specific wagers are less common, while live betting holds substantial potential for growth. Many local operators have yet to offer the extensive live content synonymous with the more mature European market, indicating ample room for expansion in this segment.
What are your plans for the following months?
In the upcoming months, our primary focus revolves around expanding our current market presence and venturing into new territories. While we have already initiated the regulatory approval process for Ontario, we are also exploring several other potential jurisdictions.
Our expansion into new regions significantly shapes the trajectory of our product development. It’s essential to acknowledge that the betting preferences in emerging markets, such as Africa, Latin America, and Asia, differ markedly from those in established European markets. Accordingly, we are customizing our sportsbook offering to align with the prevalent preferences in each diverse landscape.
The evolution of our horse racing product exemplifies this adaptive approach. While European operators typically prioritize offering a comprehensive mix of horse racing content, bookmakers in Latin America and Africa often do not. Similarly, products like esports products such as our proprietary Betby Games feed are well sought in markets like Europe, CIS, Asia, and certain Latin American regions but not obligatory for those targeting expansion in Africa.
In essence, the coming months will entail diligently navigating this dual challenge: expanding into new markets while refining our product lineup to cater to the specific preferences of each market.
