Tim Scoffham, WeAreGame: “By 2025 the total Brazilian igaming market value will hit R$20bn”

Tim Scoffham spoke with Focus Gaming News about WeAreGame’s upcoming attendance at SiGMA Americas and shared his views on expectations for the Brazilian iGaming market.

Exclusive interview.- WeAreGame has prepared an exciting range of products and innovations to present at the upcoming SiGMA Americas (São Paulo, June 14-18). To find out more about how the company is preparing for the event, Focus Gaming News sat down with Tim Scoffham, the company’s CEO.

WeAreGame will attend SiGMA Americas. What specific products and innovative offerings will WeAreGame be showcasing at the event?

We’re very excited about SiGMA Americas. The event is a chance for us to share our wealth of experience and expertise from all aspects of iGaming and gambling, offering premium content, scalable solutions and services. We cover everything from casinos and sportsbooks to lottery, fantasy and poker. Everything a new iGaming business will need. With the high level of skill we have under our belt, we get brand-new platforms up and running in as little as three weeks.

We specialise in emerging markets, such as Brazil and the rest of Latin America. We know how to tailor each platform to meet the needs of the client and their demographic, providing support in Portuguese, for example. We’ve launched multiple platforms, services, and exclusive games in Brazil, such as PixBet.tv, PixJogos, PixBet Fantasy 5, F12 Mania, FazOBetAí, FazOBetAí Palpite, Greenbets, brbet.com, and MCWEsportes, with more to be announced soon. 

The event will take place in Brazil, a country that is currently considering regulations for sports betting and gambling. What are your views on the potential of this market?

Brazil is the fastest-growing market on the planet right now. The past year has been huge for Latam, but Brazil is the rising star. Last year, we joined the Brazilian Lounge because we saw the potential.

“A 25 per cent growth increase since last year alone proves Brazil is a significant name in the world of iGaming.”

Tim Scoffham, CEO, WeAreGame.

Brazil has a rich cultural heritage of sports and entertainment. Since the changes to legislation came about in 2018, we’re seeing more and more officials championing the positive potential of iGaming and gambling in the region. The new industry bodies are working hard to provide a working solution that will enable more and more businesses to set up in Brazil, which can only be a good thing for the Brazilian economy and the people as a whole. We want to be a part of the new wave of Brazilian iGaming platforms. 

What are your thoughts on the future of the iGaming industry in the LatAm market, especially in Brazil?

Latin America is huge. There are roughly one million active players online in Brazil. Some predictions say that by 2025 the total market value will hit R$20bn. 

The recent surge in tech companies in São Paulo is a testament to the need for local expertise and knowledge. And it’s not just São Paulo, Rio de Janeiro is also seeing an expansion in its tech hub, and young Brazilians are bringing their talent to the forefront. Once regulations have been established, more providers will aim to join the growing network of Brazilian platforms. 

What are some of the key trends you are seeing in the iGaming industry?

Casinos and sportsbooks are the two biggest stars of iGaming, there isn’t a country in the world that doesn’t have some love for sports, and casino games have been around for centuries. Table games like poker and blackjack are universal.

Some of the best money these days is to be found in the lottery, and we’re seeing a recent surge of lottery platforms showcasing various lotteries from around the globe. From the big names to exclusive single-platform lotteries. 

Bingo has turned over a new leaf in recent years as well, it’s no longer a game just for older people. Bigger and brighter online bingo games bring in younger players attracted by the new twists and huge cash prizes. 

One area where we are finding more people wanting to expand is fantasy. It’s been an overlooked vertical for so long, but savvy businesses are opening up to the wider potential of fantasy leagues and Free-to-Play games. They can be linked to games in sportsbooks and casinos, and league games are perfect for retention as they pull the player back to your platform to discover the results, and we all know those who return are more likely to play again.

“The key word on everyone’s lips recently is artificial intelligence. Some recent innovations have seen AI being used in many ways.”

Tim Scoffham, CEO, WeAreGame.

Behind the scenes, for things like customer service and marketing, to more in-depth use in sports, prevention of problem gambling, and in games themselves. One exciting development is AI being used in VR casinos, it gives new meaning to the phrase ‘a fully immersive iGaming experience’.

What are some of the challenges and opportunities that WeAreGame is facing in the current iGaming industry?

I think the biggest challenge that is always in the back of the minds of anyone in the iGaming industry is ensuring you’re abiding by rules and regulations. No one wants to get hit by a massive fine and keeping up with the ever-changing legislation is a full-on task for law and compliance. Even the most-experienced and largest corporations around the world are not immune or safe from the potentially huge damage that can be incurred by breaking the law when it comes to gambling, so being ever-stringent is key.

Trying to keep up with evolving tech is another issue, so companies have to make sure they’re recruiting the right people and keeping up with the training of established staff. Yesterday’s new tech is tomorrow’s old-school and out-of-date clutter.

For any company looking to take its venture into the wider world, the language and cultural barriers are key to profit and establishment. The world is a smaller place since the expansion of the internet, and as it becomes easier to obtain for more people businesses will need to recruit teams with a sound knowledge and understanding of each market and its people.

What are your plans for the second half of the year?

We’re already seeing a huge amount of growth year-on-year which is promising for the remainder of 2023 and moving forward into 2024.

Our different verticals are each performing better and bringing more clients to our door. We are in the process of launching many brands for our clients in our target markets and, for us, that is going to be a main focus as we firmly establish ourselves in Brazil and get more projects off the ground in other markets. Language and location are not a barrier for us, so this gives us an edge over our competitors.

The future is looking very positive for us and we hope that continues to grow.