A new study by Playtech, carried out in partnership with research platform Toluna, has revealed that uncertainty about how to play safely online and a lack of information about gaming companies operating in Latin America are among the main barriers for potential new players in the region - cited by 39% and 55% of respondents, respectively.
Playtech designed and conducted extensive consumer research to assess current attitudes towards gambling, risk factors, consumer confidence in regulation and self-regulation, and translate these insights into greater player engagement and safety in Latin America.
The online study interviewed 2,112 people in four Latin American countries - Argentina, Brazil, Chile and Colombia. Its main objective was to assess the main concerns and barriers for aspiring gamblers in Latin America, in order of relevance.
The data show that, ahead of regulation, one of the biggest challenges in the sector is building consumer confidence, suggesting that operators should adopt new measures to ensure player protection and responsible gaming, ensuring that these goals are clearly communicated to the wider audience.
According to the survey, the biggest barrier for potential new players in Brazil to place bets is the lack of knowledge about how to do it safely, as cited by 39% of respondents.
55% of Brazilians also said they would feel more confident about placing bets online if they had more information about companies operating in the country. Meanwhile, 51% said they would be more confident if they had access to player protection tools, suggesting a knowledge gap about online gambling and the protection features available to players.
Finally, 1 in 5 Brazilians said they were afraid of losing all their money in online betting, or of becoming addicted to games of chance - a result that highlights the importance of protection mechanisms and responsible gaming in the country.
The study results follow an announcement last month by SECAP, the leading public policy development agency for the Agriculture, Energy and Lottery sectors, that the Brazilian government expects the country's sports betting industry to be regulated before the end of the year, and running by 2022.
Francesco Rodano, Director of Policy at Playtech, said: “The data from this survey highlights the importance of implementing player protection measures as well as the focus on responsible gaming across the industry as we move towards a regulated environment.”
“Right now, the industry needs to place greater emphasis on more secure gambling player engagement and data analytics in order to support and protect new online customers and ensure sustainable growth in the newly regulated market. Playtech is committed to addressing the concerns highlighted in this important study by providing a higher level of safer gambling player involvement and data and experience analysis tools in order to support and protect new online customers, or anyone with increased vulnerability or standard high-risk behavior,” completed Rodano.
Founded in 1999 and with premium shares listed on the main market of the London Stock Exchange, Playtech is a market leader in the gaming and financial transactions sectors and has 6,400 employees in 24 countries. A leading technology company in the gambling industry, it offers business intelligence driven gambling platform software, services, content and technology across the industry's most popular product verticals including casino, live casino, sports betting, sports virtual games, bingo and poker.
Source: Playtech / Sherlock Communications
