ow would you describe your current presence and the progress made by BetConstruct in the past year in LatAm online gaming and sports betting market?
BetConstruct is a provider and operator already positioned and consolidated in the gaming and sports betting market in Latin America. We have clients in all markets where the legislation allows it. Our partners are across the industry spectrum, from large land-based casinos to small operators who use our software for their clients. BetConstruct is a global operator, one of the benchmarks in the industry, and with two offices in Latin America we continue our expansion and constant growth.
On which jurisdictions and gaming/gambling markets are you most focused and why?
BetConstruct is only focused on those countries where the legislation allows it. Although, for online gambling, this is still limited in Latin America, we are seeing that the trend towards regulation is constant in all countries and throughout the world. So we have high expectations to also continue growing in markets that still do not allow it.
Could you share any feedback from operators and players, trends and performance results from the main LatAm markets? What are the main demands and growth potential areas in the region? Could you provide any examples in that sense?
Our company is a comprehensive service provider for the industry. For example, we offer from our own games such as Talismán, to sports betting platforms. Our clients by working with us will also have access to our live dealers and thus also to our eSports services. In addition, our platform is open to other providers: we also integrate games and third-party content, so that our clients can have the largest and most varied offer on the market. Of course, the greatest demand is in live sports betting, where we offer entertainment for all relevant Latin American events. This particularly applies to soccer, which is the main sport in the vast majority of Latin American countries. We offer statistics and live game possibilities for, for example, all the Copa Libertadores de América matches and for the next Copa América. Although it is not a novelty in the industry, it is for the end consumer who is seeing that they can play from their cell phone and live the different sporting events that take place in their respective cities.
While Colombia consolidates its position as a benchmark in terms of regulation, the two main Argentina’s jurisdictions are taking their first steps after legalizing igaming and sports betting, and Brazil is in a similar situation in the case of sports betting only. Could you share your assessment of these existent and potential markets from your perspective as a provider? What are your plans and expectations for each of them, and which role is the pandemic playing / going to play in this sense?
Yes, effectively. Colombia has been the first country to provide a special legal framework for online gambling, and its success has resonated in other countries. The trend, as we said before, around the world is to regulate the activity to give security to users and contribute to the local economy. In this sense, Colombia is one of the main countries in the region in terms of population and GDP. But we are certainly very attentive to the opening of countries that are also very important in the recession such as Brazil and Argentina. But also Chile, Peru, Paraguay, Panama and Mexico. Latin America is a huge region with a lot of potential as different countries legislate and regulate. Our plans and expectations are to accompany this process from a local strategy, being close to our clients, with local offices and local employees and collaborators to adjust our offer to each country and region in the best possible way. Each country is different, user demand is different and we have to be very proactive to adjust to it.
How would you assess the Mexican market, and what is your approach there?
Mexico and Brazil are world powers in every sense. Their population, territory and gross domestic product put them in the focus of any global company such as BetConstruct. For those markets, we always have dedicated teams attending to your regulatory process and needs. If we speak particularly of Mexico, online operations there are already regulated and therefore, it is a market in which BetConstruct pays special attention. We believe that iGaming Mexico is still in an early stage in its development, but with growth rates in the GGR of the operators of double digits year on year. As users turn more to the internet and become more comfortable with online payments and sports betting, online gambling as a form of entertainment will continue to grow in Mexico.
Which uses of emerging technologies, and contactless tech are your currently using or working on to leverage the massive shift from offline to online in LatAm? What can we expect in the coming months in that sense?
We have been a technology and innovation company since our creation until today. We have always accompanied technological changes and adopted innovation as part of our business strategy. We have been pioneers in the application of artificial intelligence for, for example, live chat to the users of our platform. We can predict your concerns and proactively answer your questions without the need for manual intervention, thus avoiding long delays or waits in answering your questions. We have also developed solutions for transactions using blockchain technology, among other innovations in the world of computer science, whether or not they come directly from online gaming. Our partners and users choose us knowing that together with BetConstruct they will be at the forefront of technology.