The global sports betting market is estimated to have a huge growth in the period from 2023 to 2030. According to Data Bridge Market Research, the world market will grow with a CAGR of 9.2% in the period, expected to reach US $297.63 billion by 2030.
Currently, the markets that have attracted the most attention from the gaming industry are the so-called emerging ones. Among them, we can say that Brazil is first on the scale of priorities for many operators.
But what does it take for a gaming and betting operation to break into emerging markets in the best way possible?
Top Tips for Succeeding in Emerging Gaming Markets
To explore emerging sports betting markets, deep analysis is required in areas such as investments, positioning, results and other important strategies. In addition, it is imperative to understand the target audience and the preferences of the players. Check out some key points in this trajectory:
Understanding of the regulatory situation of the sector in the country
Before entering the Brazilian sports betting market, it is essential to understand the legislation and regulatory requirements. In Brazil, sports betting has been legalized since 2018, when President Michel Temer sanctioned Law 13,756/2018.
This law approved fixed odds sports betting, which means that these are already considered a public service. Such a premise is attracting general rules applied to this type of economic activity, as well as more specific regulations.
What is currently under discussion is the complete regulation of the market so that the entire process is organized in the country. According to the latest news, a regulatory bill will be presented in the next few days, with the creation of a Gaming Secretariat, which will take care of all aspects of regulation.
Even in the midst of this process, it is totally possible to operate in Brazil today. You just need to know the right way to go.
Adaptation to local preferences
Knowing your target audience is critical to success in any market. In the case of Brazil, it is important to understand players' preferences regarding sports, types of bets and platform formats. Football is the most popular sport in the country, but other sports also have loyal followers, such as basketball and MMA. Offering a variety of sports and betting options that suit the interests of Brazilian players will increase the attractiveness of your platform. We call this process the tropicalization of the operation.
Establishment of strategic partnerships
When entering an emerging market like Brazil, it is very important to establish partnerships with local companies. Service providers specialized in the gaming area can bring the operator other important acquisitions such as agreements with sports clubs, digital influencers and many more.
These partnerships can provide greater brand visibility, build customer confidence, and help tailor your offering to specific market needs.
Investment in localized marketing
An effective marketing strategy is essential to attracting and engaging players in emerging markets. In the Brazilian context, it is important to invest in localized marketing strategies, considering cultural particularities, language and preferred communication channels.
Utilizing social media, digital influencers, traditional media and partnerships with sports outlets can be effective ways to reach a wide audience and raise awareness of your platform.
Providing customer support in Portuguese
To build a solid base of players in the Brazilian market, offering customer support in the local language is critical. Therefore, it is important to have a customer service team trained in Portuguese, capable of providing support and assistance at all stages of the betting process.
Providing a quality user experience will demonstrate your commitment to meeting the needs of Brazilian gamers and build trust in your brand.
Exploring an emerging sports betting market such as Brazil is certainly an excellent opportunity for your gaming company. However, it is critical to create an effective strategic approach and dedicated focus on the local audience. If you want to talk more about it, contact me.
Source: Exclusive GMB
