The winds of change are sweeping across LatAm, with the creation of a regulatory framework now in motion. Over the coming months, legislators will attempt to build a structure that works for all. Altenar’s Americas Regional Director, Hugo Llanos, offers his expert insights on why Brazil holds the ‘most promise’, and how its more established neighbours have offered valued lessons ahead of what could be the provider’s biggest year to date.
The hottest news for Brazilian operators is the regulation of sports betting being approved in December. You have previously stated Brazil holds ‘the most promise for businesses’ – how does this development drive Altenar forward in its growth for the coming year?
Regulation in Brazil presents a positive opportunity for everyone in the industry, as with regulation comes greater trust from players and hopefully, increased channelisation. They can be confident in the knowledge they are entertaining themselves in a modern, fun and safer environment.
We are opening an office in LatAm looking at improving our business support, with the aim of being closer to our partners in the region.
There are opportunities abound for those willing to grasp them and Brazil’s regulation has given the green light for innovation and creativity. This now means that Altenar can press ahead with its work to develop the best tools and features designed specifically for the Brazilian market.
Mexico is a booming market, with an estimated 40% of Mexicans betting on sports in some form in 2023. What opportunities lie ahead of Altenar’s expansion in the country for the coming year?
Mexico has always been an intriguing sports betting market and for us, it is a close second to Brazil. It is a substantial market with a growing economy, which saw a quarter of bettors wager on sport for the first time in 2022. This, for us, represents huge growth.
In 2024, we expect further opportunities and innovation to fuel our success in Mexico. Brazil is of course the newcomer, but it would be foolish to take our eyes off the ball in other territories, like Mexico, Peru and Chile.
How do you differ your offering in LatAm regions, compared to European territories? What are the key differences in LatAm players’ needs?
The key differences between LatAm and European markets are in the user experience, not the product itself. The way a sports betting website is presented to a customer in LatAm is different to how it would appear to European players due to differences in taste. A player in LatAm may like some promotions over others, for example, or certain sports in Mexico, such as American sports, are more popular than in Europe. It is essential to make the experience intuitive and as seamless as possible for players who are accessing the content from their home countries.
What do you anticipate being Altenar’s legacy in LatAm by this time next year?
We are working hard to ensure we listen and collaborate with our customers, and to engage in discussions to make sure the product we offer meets their needs. We listen, help formulate their ideas and then help them achieve their objectives. For us, it is about making that distinction between partner and provider – we will never just offer a product without supporting customers to get the most out of it. By this time next year, I hope we will see the market in Brazil live, with a robust regulatory framework, and a number of additional partnerships.
