Here are the most important concepts of Richard Duncan, Head of Business Development at PA Betting Services:
Exploring Brazil's betting landscape:
Duncan highlights Brazil's unparalleled passion for football, drawing parallels with the UK, and foresees football retaining its dominance in betting turnover. However, the position of racing, which holds a significant share in the UK market, remains uncertain in Brazil despite a growing community of racing enthusiasts.
Challenges in local availability:
While Brazil boasts a substantial horse population and a steadily growing thoroughbred industry, the limited local availability of racing presents challenges. Duncan notes the vast difference in the number of racetracks, emphasizing how this influences the disparity in betting turnover between football and racing.
Unlocking the potential of racing:
Online operators are urged to capitalize on local racing opportunities by educating the population about the benefits of betting on international races. Duncan emphasizes the need for cross-selling to sports bettors, presenting racing as a constant betting option to fill schedule gaps left by other sports.
Global racing calendar advantage:
Duncan positions racing as having a global edge, offering a full calendar that ensures continuous betting opportunities. He points to successful strategies in the UK and Ireland, where the introduction of international racing content has proven effective during prime leisure hours and weekends.
Foreign operators' advantage:
Experienced foreign operators, having established themselves in Brazil prior to regulatory changes, may hold an advantage due to their familiarity with global fixed odds racing. Duncan explores how their understanding of the product and established strategies could set them apart in the emerging market.
Mitigating racing knowledge gap:
Addressing concerns raised by operators in emerging markets, particularly Brazil, about the racing knowledge gap, Duncan suggests partnering with data providers to bridge the technical understanding. The article discusses the challenges in racing trading, including vernacular complexities and fears of exposure to professional punters.
Platform partnerships for risk mitigation:
A recent shift in operators new to racing involves opting for platform or pricing partners to mitigate risks associated with racing. Duncan highlights how this strategy could be appealing to operators in emerging markets like Brazil, providing a safeguard against potential overexposure.
Leveraging operator inexperience and bet types:
Duncan notes the relative lack of maturity among Brazil's bettors, especially in comparison to established markets. He identifies an opportunity for operators to leverage this by offering a diverse racing portfolio, echoing the success of multis in football betting, potentially delivering high margins and year-round engagement.
In conclusion, Duncan envisions racing finding success in Brazil, akin to its triumph in established markets, urging operators to recognize the untapped potential and strategize effectively for a promising future in the country's evolving sports betting landscape.
Source: GMB
