Gambling industry suppliers are eagerly awaiting new Latin American markets to regulate online gambling, according to a panel of industry experts.
Speaking at SiGMA Europe in Malta on Wednesday (November 15), Jack Riley, a commercial account director for Light & Wonder, called LatAm “the big one” in terms of opportunities for the gambling market.
“Some [online markets] are already opening. Brazil, Peru and Chile are the big markets, so that is big news. I think this is where we will focus in the future,” Riley said.
Fellow panellist Nikolay Lobov, the regulated markets global director for Mascot Gaming, also said the best opportunities for his company are in LatAm.
“We see a lot of potential. Regulation by nature means better protections for players. At the end of the day, it is good for our business. It's like a way of ensuring responsible and sustainable gambling,” Lobov said.
Increasing compliance requirements for suppliers and more restrictions on advertising gambling products in many European jurisdictions means “creativity is king” for suppliers looking to stand out in a “very saturated market”, according to Riley.
To be ready to enter new market opportunities when they do arrive, Lobov said his company looks to ensure that its games comply with “the most restrictive regulations, then it is possible to move our product into other countries”.
Once in these new markets, suppliers are finding it increasingly difficult to stand out, according to the panel.
“From my perspective as a provider, it's about how we can differentiate our product,” Riley said. “We just focus on quality and providing a good customer experience. From what I've seen with operators all they can do without incentives is focus on a strong brand.”
Riley explained this could mean ensuring there is a great customer service team or an innovative new product. One such innovative product touted by Riley that Light & Wonder is looking into is an online multiplayer slot game.
To stay ahead of the competition, Light & Wonder’s compliance team is “working constantly” to find new information to feed to the company’s commercial team to “help make decisions”, according to Riley, which he says has been particularly helpful in markets such as Germany where there are many restrictions on games.