etgenius will showcase its latest innovations for sports betting vertical at FADJA 2019, stand 42 of Corferias, on April 10 and 11. Alonso Jibaja, Head of Business Development for LatAm, spoke to Yogonet to share his insights on the company's presence at the show and his current perspective of the top online gaming market in LatAm and the further opportunities opened by Brazil, Argentina and Peru.
What do you expect to be the key trends at the show?
With Brazil, Peru and Buenos Aires province on the verge of legal sports betting, I definitely expect regulation, including licensing structure and taxation models, to be hot on the agenda at FADJA. And with this, it won’t be a surprise to see major international players attend in numbers as they begin to show more and more interest in the region.
On the product side, I think the growth of in-play betting in Colombia will add a different dimension to the event. The World Cup saw a massive rise in the number of in-game bets placed with licensed Colombian sportsbooks, breaking all kinds of records. And it’s only the start.
Live betting products really are a driver in the Colombian market - players are increasingly betting at the touch of the button whilst watching games. For licensed operators to really maximise the in-play frenzy, it’s about offering a high-quality live product with a solid choice of bet-types, few market suspensions and crucial features such as cash out that is available right up until the final whistle. The answer lies in trading services that are powered by reliable, low latency sports data. Without this, it’s difficult to compete.
What do you think visitors will be looking to talk to Betgenius about at FADJA 2019?
In the Latin American market, operators are extremely interested in two key things: speed to market and differentiation. What really sets our platform apart from the other solutions available to the LatAm market is the unique flexibility our technology offers. We give each partner the control to customize every aspect of the platform with highly configurable settings, to build a sportsbook that is perfect for the local market.
Differentiation is vital. As the market matures and competition grows, Latin American operators often find themselves tied down with solutions that they’ve outgrown. It’s about adopting a long-term view and the technology that holds your sportsbook together needs to sit at the heart of that. I’m really excited to discuss how our platform enables this at FADJA.
Could you detail your current presence in Colombia? Do you consider Colombia as a model market now, which neighbouring jurisdictions could try to copy as well?
As part of the Genius Sports Group, we employ more than 300 staff at our Medellin office and have official relationships with over 70 sports leagues in 14 different countries in the LatAm region, so we know the local market very well. Colombia has arguably set the benchmark for regulation in the region but I do think the market is still maturing and there is definitely development to come, in terms of product innovation but also refining regulation.
Whatever the territory, we’re big believers in a sustainable ecosystem that brings benefits to all involved, including sports, sportsbooks, bettors and the wider nation. We’ve seen first-hand the success this can bring and that’s why we continue to offer our expertise to local bodies. Not only to Coljuegos in Colombia, but educating stakeholders in Brazil and Peru on their journeys to regulatory framework too, so the right measures are in place for the long-term.
What are your strategies to expand into LatAm’s emerging markets, like Brazil, Argentina and Peru? Could you give us examples of your products and services?
It’s great to see markets with such potential move to embrace sports betting and when they do regulate, I think we’ll be well set whatever the dynamic, whether it’s purely land-based or includes online and mobile betting. With our market-leading trading service, flexible turnkey platform and industry-specific digital marketing technology, we offer everything an operator needs to run a sportsbook that can not only compete with local brands, but also international ones.
Take our trading service for example, each partner can choose from our huge selection of content, so that they offer odds, whether pre-match or in-play, on the events that are right for them and their audience, and that’s invaluable. The service is powered by sports data from Genius Sports’ portfolio of official betting rights, so for new sportsbooks in Brazil, Peru and Buenos Aires province, our coverage includes odds on all market-types for the most popular local and global sports leagues. Importantly, each sportsbook partner can select their own margin on each individual market-type and event, so they are in control of their strategy.