LatAm Rise Accelerates: Tips for Getting In NowPublished July 15, 2020 by Lee R
The market is coming to LatAm, with newly adapted regulation models channeling mobile users populations.
The Latin America market continues to emerge.
In a Gambling Insider interview, Play’n Go’s Arturo Chaltelt recently provided key insights into steps operators can take to harness the benefits of the still growing and potentially booming market for the May/June edition.
The key driver of dynamic adaptive growth in the LatAm market is currently a shifting regulatory landscape, with more jurisdictions embracing legislation to leave the market at a designation of “wide open” for an increasingly diverse range of online operators and suppliers for 2020.
The sheer size and population of the region are concrete indicators that this opportunity is real, with a thriving land-based sector having established the interest of the massive LatAm market.
According to Chaltelt, serving a population of over 626 million people across multiple variegated jurisdiction models requires specific considerations.
Know Your Customer
The first key to adaptation is identified by Chaltelt as localisation: the tried and true adaptation maxim stands that players invariably favour an experience adapted to their cultures.
The Mobile Factor
Another key to breaking into LatAm at this vital moment is quality mobile content. LatAm countries with more open legislation such as Columbia widen the window for making an impact.
The Columbia Model
Columbia’s emerging robust framework is has harnessed online engagement, with regulator Coljuegos revealing a 106% increase in contributions from online licensees to COP65.97bn ($19.6m) in revenues for fiscal year ending 31 October 2019.
Mobile usage is expected to rise commensurately, and drive increases in mobile use in other jurisdictions as well, with overall mobile penetration in LatAm projected to rise to some 73% of the total population this year from the current 67%.
Play n’Go data further reveals general online conversion, reflected in other LatAm sectors such as banking where online use is rising. Conditioning to use and entertainment online will drive interest and engagement in favored casino games across LatAm, as reflected in growth in the history of today’s more mature market examples.
With these trends set to increase, and the massive Brazil market expected to regulate in the coming years or months, the LatAm market will only grow. Localising the experience for an increasingly mobile savvy market are the ways to get a foothold now.