Zona de Azar Malta – Brazil’s iGaming Scene: Interview with Jack Smith Senior Sales Director, Sportingtech
Malta.- 15th April 2024 www.zonadeazar.com As Brazil finally gives the green light for sports betting and iGaming, industry leaders are gearing up for a transformative chapter in 2024.
In this insightful interview, Jack Smith, Senior Sales Director at Sportingtech, speaks about the exciting prospects of casino entry into the newly regulated market.
This interview is focus centred on the meticulous preparations undertaken by suppliers, understanding local player preferences, and exploring the collective vision for the future of this burgeoning market.
As the journey to secure the final approval for iGaming regulation in Brazil concludes, what strategies and preparations has your company put in place for the upcoming market launch?
We have recently seen that the Brazilian government has now officially recognised GLI as a certified testing lab. As part of this we have made continued efforts to conform to GLI 19 and GLI 33 which are synonymous with other markets on a global level. In addition to that we have also been working closely with Serpro on data transfer requirements.
In terms of strategy, our stance remains the same as always. We are focused on collaborating with our operators to ensure that we give them all of the technical tools and capabilities to harness their own local expertise and continue to be successful. This is crucial in what will likely be a very competitive market.
In anticipation of the iGaming launch, which specific verticals do you believe will capture the hearts of local players, and have you identified any unique preferences or trends that are shaping your approach?
As we know in most established markets there is a traditional split between sports betting and casino with Brazil unlikely to differ. Brazilians have a huge affinity with Football and that is not going to change anytime soon with more operators vying for sponsorship opportunities with its biggest clubs.
The inclusion of iGaming into the bill was hugely important as well as this represents a sizeable piece of the market. The likelihood is that we will likely see this continue to grow through traditional live dealers and crash games which have proven to be popular in the region as well.
At Sportingtech we recognise iGaming’s importance, hence why we are continuing to partner with local games providers to supply fresh new casino content that we feel will identify with the consumer. It remains to be seen how the landscape will change in the future but as always, our teams will continue to research the market and look for new innovative products to satisfy Brazilian players.
What are your overarching expectations for its trajectory? Are there specific milestones, challenges, or growth indicators that you foresee shaping the landscape in the coming years?
Given the strong interest by what feels like the majority of the iGaming industry, it’s fair to say that everyone sees the growth potential in Brazil over the coming years. Research suggests that revenues will reach $2bn in 2024 and a projected market volume of $4bn by 2029. If those projections were to be correct, Brazil would solidify itself as one of the largest markets globally.
There aren’t specific milestones we are working towards but the continued increase of internet penetration in Brazil will play a crucial role in the development of the online gambling market. Smartphones are becoming more cost effective and available to everyone, and with the incoming legislation we will see the introduction of native apps to the iOS and Google Play stores. This will add an additional layer of convenience to the consumer.
There is also the retail opportunity, which has been hidden in plain sight for a number of years, so it will be interesting to see whether operators transition into retail to penetrate players who are limited to cash only transactions.
Edited by: @MaiaDigital www.zonadeazar.com
