Canada
Assessing the LatAm opportunity w/Rob Verdia, Head of Products at Nexiux Solutions
Rob Verdia, Head of Products at Nexiux Solutions, says LatAm offers huge potential, but localisation will be key to delivering engaging player experiences in each market
Latin America has emerged as a key market for online gambling operators looking to expand their geographical reach. It is a sizeable region that offers just as much potential as North America but with much lower barriers to entry.
Key markets such as Colombia, Peru, Argentina and Mexico have embraced regulation and offer a viable environment into which operators can launch their brands and deliver compelling player experiences while still ensuring players are protected.
This is not always the case in North America, where some sportsbook operators have already withdrawn their brands from the US states that have failed to deliver the ROI they were expecting.
But it is important for operators to understand that this is a market where localisation is the difference between success and failure. LatAm should not be seen as one jurisdiction, but rather as multiple markets with each requiring its own approach and proposition.
This is because each country is different. From regulation to smartphone prevalence to internet availability, preferred sport and popular payment methods, operators must localise across these areas and more if they are to engage consumers and meet their expectations.
Operators must also be mindful of the nascent nature of these markets. Regulations and requirements can change at a moment’s notice, and they must be able to adapt instantly if they are to remain compliant.
This throws up plenty of challenges for operators. Some are standard to when operating in multiple markets, but others are unique to Latin America – in particular, payments and the popularity of cryptocurrencies such as Bitcoin as a preferred payment option among players.
Let’s take a look at some of the main challenges operators face when setting their sights on markets across the region.
Changing regulatory requirements
New and emerging markets often launch with a regulatory framework that is then tweaked and tightened once operators go live. For those that are first to market, this can mean they are aiming for a moving goalpost in the early days when it comes to ensuring compliance.
It’s also common for tax requirements to be altered as markets mature; this is something we have seen in African jurisdictions which can impact the viability of the market.
This is why operators need to ensure their brands are powered by agile, flexible platforms that allow them to jump in and make the changes they need to meet evolving requirements, often with very little notice.
Internet bandwidth and smartphone penetration
In emerging markets, it is often the case that internet bandwidth is low, data costs for consumers are high and the prevalence of smartphones moderate at best. This means that operators cannot offer the same “bells and whistles” experience as they do in more established markets.
This can mean stripping back the user interface and removing features and functionality such as streaming so that players can place wagers and spin the reels without that core experience being impacted by glitches, slow loads or the book or casino simply crashing.
Again, this requires a platform that offers high levels of flexibility and customisation.
Different player preferences
It goes without saying that player preferences differ from market to market. This is even the case in established regions such as Europe where the sports and games preferred by players in, say, the UK, are entirely different to those in, say, the Netherlands.
Latin America is just the same. Players in Mexico will be drawn to different sports and slots than those in Argentina. Understanding these player preferences is therefore vital, but so too is being able to localise markets and odds, and the providers/games made available to players.
Localise payments and digital currencies
When it comes to localisation, payments are one of the most important areas for operators to get right. If players can’t deposit via the methods they want to, they are highly likely to drop off and switch to a rival brand that does.
In Latin America and other emerging regions, this includes being able to deposit and withdraw using cryptocurrencies. This trend is not so strong in more established markets, but we are seeing a lot of players in LatAm want to use digital currencies for online gambling activity.
To be able to facilitate these payments, operators must ensure their platform can easily integrate new methods into the cashier.
Having considered the key challenges operators face, it’s clear that the platform they use to make moves in Latin American markets will ultimately be key to their success.
At Nexiux Solutions, we believe that modular, dynamic platforms and technologies must be used as the foundation for operators making a play in markets such as Latin America, North America, Africa and Europe.
This allows operators to integrate best-in-class third-party providers that specialise in delivering features, functionality, data, games, payments, etc for specific markets. This in turn allows them to provide a truly localised player experience.
Such is the opportunity presented by the LatAm region, operators must get their platform and tech stack right from the get-go. Dynamic and modular really is the only way forward and will ultimately prove to be the key operators need to unlock each market.
The Alcohol and Gaming Commission of Ontario (AGCO) has mandated all Ontario-registered sportsbook operators to halt offering and accepting wagers on World Boxing Association (WBA) events immediately. This measure is being taken to protect the Ontario betting public following concerns that WBA-sanctioned boxing matches are not adequately being safeguarded against match-fixing and insider betting.
Since December 2023, the AGCO has been conducting a comprehensive review of suspicious wagering activity on a WBA-sanctioned title fight between Yoenis Tellez and Livan Navarro that was held in Orlando, Florida. Suspicious betting patterns on the bout lasting over 5.5 rounds were reported to the AGCO by two registered independent integrity monitors and detected in Ontario by a registered igaming operator. Media reports also alleged that Tellez’s Manager placed $110,000 on the match lasting longer than 5.5 rounds at a Florida casino. The bout ended with Tellez knocking out Navarro in the 10th round.
Following an intensive review that included outreach to the WBA, Ontario-registered gaming operators, independent integrity monitors, and regulators in other jurisdictions, the AGCO has concluded that bets related to WBA events do not currently meet the Registrar’s Standards for Internet Gaming.
The AGCO requires all Ontario-registered gaming operators to ensure the sport betting products they offer are on events that are effectively supervised by a sport governing body. At a minimum, the sport governing body must have and enforce codes of conduct that prohibit betting by insiders.
Registered gaming operators were unable to demonstrate to the AGCO that the WBA prohibits betting from insiders, which could include an athlete’s coaches, managers, handlers, athletic trainers, medical professionals, or others with access to non-public information. Further, registered gaming operators were unable to demonstrate that the WBA took any action to investigate or enforce the allegations of potential match-fixing and insider wagering.
The AGCO has indicated to registered operators that in order for WBA betting products to be reinstated in Ontario, operators must demonstrate that the WBA effectively supervises its events, thus bringing them into compliance with the Registrar’s Standards. In December 2022, the AGCO required gaming operators to stop offering bets on UFC events for similar issues related to insider betting safeguards. Within a month, UFC amended its policies and implemented new protocols that allowed the AGCO to reinstate betting on UFC events in the province.
“Ontarians who wish to bet on sporting events need to be confident that those events are fairly run, and that clear integrity safeguards are in place and enforced by an effective sport governing body. Knowing the popularity of boxing in Ontario, we look forward to reinstating betting on WBA events once appropriate safeguards against possible match-fixing and insider betting have been confirmed,” Dr. Karin Schnarr, Registrar and CEO of AGCO, said.
Andrew Cochrane Chief Business Officer of GiG
GiG increases Ontario market presence, powering the launch of Casino Time
Gaming Innovation Group Inc. (GiG), has announced the launch of Casino Time, powered by its award winning iGaming platform and pioneering real-time rules engine LogicX, with revolutionary sportsbook, SportX soon to follow, to further extend its footprint in the regulated Canadian province of Ontario.
The launch of Casino Time carries extra significance, marking only the second time that on-demand, regulated online Bingo has been made available in Ontario. The new Bingo product vertical, launched alongside a strong Casino offering, will be boosted by GiG’s new sportsbook, SportX, as part of a planned release later this year.
GiG has focused its solutions on driving exponential growth in revenue for operators with its highly scalable iGaming platform, offering localised third party content and leading suppliers for the Ontarian market. GiGs peerless gamification layer creates an optimised and immersive casino experience tailored to regional preferences, swelling client retention and player engagement.
Canadian owned and operated, Casino Time is a joint venture amongst leading retail operators in Ontario’s Charitable Gaming sector, delivering Bingo, Slots and Live Dealer Casino Games. Promising a personalised service and community experience, Casino Time is continuing its long-standing partnership with local charities, introducing its joint fundraising model into the iGaming space for the first time.
Now coming towards the end of its second year of licensed operations, Ontario has emerged as one of the largest iGaming markets in North America, second only to New Jersey according to data supplied by Vixio. The first and as yet only Canadian province to launch a regulated market, Ontario boasts more than 1.6 million active player accounts spread over 40 plus operators, generating €1.3 billion in Gross Gaming Revenue (GGR) in its first year of trading, with this data supplied by iGaming Ontario.
Andrew Cochrane, Chief Business Officer of GiG, said: “GiG continues to set the pace with a strong cadence of brand launches in 2024, and I’m pleased that when operators are seeking platform solutions in regulated markets, GiG is leading the pack. Our partnership with Casino Time, will help deliver something new and exciting to the Ontarian market, and further helps to demonstrate the flexibility of our solutions, adapting to match the regional aspirations of our partners to deliver growth.”
D’Arcy Stuart, CEO of Casino Time, said: “We are thrilled to partner with GiG as the core technology provider of our iGaming platform. Their powerful suite of player engagement tools, as well as diverse content and regulatory integrations, underpin our ability to serve and delight our player community. Our hybrid online and offline customer network, as well as unique bingo offerings, will drive exciting opportunities as the platform and the marketplace continues to grow.”
Glitnor Group, operating under the LCKY Group in Ontario, has joined the International Betting Integrity Association (IBIA). Glitnor Group’s luckycasino.ca brand sportsbook will feed into IBIA’s world leading betting integrity monitoring platform. The operator joins over 50 companies and 125 leading sports betting brands in IBIA and further cements the association’s position as the leading sports betting integrity monitoring body in Ontario and globally.
David Schwieler LCKY Group CEO, said: “At Glitnor Group, we’re dead serious about keeping our betting games fair and square. That’s why teaming up with IBIA is a big deal for us. We know how crucial it is to protect the spirit of sports, and we’re ready to roll up our sleeves and work closely with the IBIA to make sure sports betting stays exciting, speedy, and above all, fair.”
Khalid Ali, CEO of IBIA, said: “I am delighted to welcome Glitnor Group as IBIA’s latest member in Ontario. Glitnor and IBIA share a common goal to maintain the integrity of the sports betting marketplace and to protecting consumers and sports from match-fixing. Ensuring product integrity is paramount to our approach and we look forward to integrating Glitnor within our leading global sports betting integrity monitoring system.”
IBIA is a not-for-profit body that has no competing conflicts with the delivery of commercial services to other sectors and is run by operators for operators to protect regulated sports betting markets from match-fixing. IBIA’s global monitoring network is a highly effective anti-corruption tool, detecting and reporting suspicious activity in regulated betting markets.
Through the IBIA global monitoring network it is possible to track transactional activities linked to individual customer accounts. IBIA members have over $300bn per annum in betting turnover (handle), accounting for approximately 50% of the global commercial regulated land-based and online sports betting sector, and in excess of 50% for online alone.
IBIA recently released a report on the Availability of Sports Betting Products which highlighted Ontario as a leading regulated gambling jurisdiction, with an expected onshore channelisation for sports betting of 92% in 2024 forecast to rise to 97% in 2028. IBIA currently represents over 60% of the private sports betting operators licensed in the province. All online sports betting operators licensed in Ontario are required to be part of a betting integrity monitoring body.
IBIA’s 2023 annual integrity report detailed 184 alerts reported in the year, which represents a decrease of 101 (or 35%) on the revised 2022 figure of 285 alerts. IBIA alerts contributed to the investigations and subsequent successful sanctioning of 21 clubs, players and officials in 2023, an increase on the 15 sanctioned in 2022.
The post Glitnor Group expands IBIA’s betting integrity presence in Ontario appeared first on European Gaming Industry News.
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