A closer look at the Brazilian market and wider LatAm
“Brazil is not synonymous with Latin America. Each country on the continent has its own unique characteristics,” commented Evgen Belousov, GR8 Tech CEO.
For GR8 Tech, the most important thing to understand about the LatAm region is that it’s very diverse. Significant cultural and operational differences necessitate a localized approach.
For example, “Brazil's rhythm is distinct; life starts in the afternoon, and business interactions reflect this laid-back pace. To thrive here, understanding and integrating into the local lifestyle is essential,” adds Belousov.
He further discussed the Brazilian market's competitive nature, highlighting the crucial role of retention strategies. “The churn rate is high as players frequently shift between operators lured by aggressive marketing. Hence, having robust retention mechanisms, such as real-time tools and enticing bonus mechanics, is crucial to maintaining a loyal customer base,” GR8 Tech CEO concluded.
Yevhen Krazhan, CBDO, addressed trending compliance and market preferences. "Regulation is a hot topic, with a keen focus on product compliance. Moreover, while classic sportsbooks saturate the market, emerging interests lie in areas like fantasy sports and social gaming, which present new opportunities for differentiation and growth."
Thomas Carvalhaes, Senior Business Development Manager for the Latin America region, provided his expertise during the panel discussion “Understanding the demands and evolution of the B2B market”, highlighting the demand for localization and intuitive technology.
“In Latin America, where many markets are still learning the ropes of iGaming, the simplicity of the technology is key. Products need to be user-friendly to ensure they meet the expectations of a clientele that values straightforward and engaging gaming experiences,” Carvalhaes explained.
Future directions and engagements
Building on the insights and achievements from BiS SiGMA Americas, GR8 Tech is actively expanding its presence in Brazil and LatAm, establishing its reputation as a key player in the region.
The company is also exploring opportunities in other global markets, with Asia as the next target at SiGMA Asia, scheduled for June 3-6 in Manila, Philippines. This upcoming event presents another fantastic opportunity for GR8 Tech to demonstrate the capabilities of its flagship GR8 Sportsbook platform and forge new partnerships in another exciting and diverse region.
Source: GMB
