Recognizing that Latin America represents a fast-emerging and increasingly important market for online gambling, BetConstruct has fully committed to the region, and participated at SAGSE Latin America with its full suite of products. Suren Khachatryan, CEO of BetConstruct, talked to Yogonet.com about this market and firms plans for this region, and company performance at the tradeshow.
“Earlier this year we actually opened our eighth global office in Lima, Peru. Therefore, there was never any doubt that we would bring a strong team to SAGSE where we exhibited our complete range of gambling and betting games – the combination of which, along with our platform and management operation systems, allow us to present a simple solution which is affordable to new entrants, as well as customized for the local markets,” Khachatryan said.
He continued by saying that they would have liked to have seen a better volume of visitors at SAGSE, which perhaps “was weakened due to several conflicting gambling conferences and shows in the region at the same time. However, that being said, the quality of attendees was high, and we were able to meet with several senior decision makers who showed great interest in both our company and our offering.”
“Prior to attending SAGSE, our team in Lima spent considerable time researching the market specifications – which vary from country to country. It is one thing to appreciate that this is a continent poised for future growth, but understanding where the opportunities lie, and more importantly how to access them, can be extremely challenging and BetConstruct is determined to remain at the forefront of this opportunity through our local presence and our fast-developing expertise and market penetration,” he said.
Khachatryan commented: “It’s no exaggeration to state the Latin American market is not a single unified entity – rather instead it’s a complex collection of individual sub-markets defined by differing local legislation, economic and cultural characteristics and of course consumer needs and preferences. At BetConstruct we were prepared for SAGSE visitors from each and every country with ready-made products and service combinations to offer to each territory as appropriate.”
“We found that in particular four of our products had resonance with the visitors at the show. It’s no surprise, on a continent known for its sports fans, that our sports book platform was in great demand. However that’s not all; our new scratchcard product OGWIL was incredibly popular, especially as we have localized it for the Latin American market – both to meet both local regulations and restrictions regarding online lotteries, and of course the tastes and preferences of local players. In addition to this, our casino suite with over 600 games generated significant interest and finally our brand- new fantasy games proved very popular and compelling and we look forward to seeing them live and available to consumers very soon.”
Khachatryan explained that the Latin American market is in a nascent stage – while there is demonstrable interest from potential operators and punters alike, there are many obstacles to overcome. In particular, local regulations and payment issues are persistent concerns. It has to be said though, that these are not unique to the Latin American marketplace. Globally, from Europe to Asia as well as the US to Australia, regulations and payments have, unfortunately, always been obstacles that the gambling industry has to overcome, and we continuously work towards viable solutions.
Regarding the Argentine market, he said that it may take time, but they are hoping that imminent governmental changes will see progress being made in the right direction. Nevertheless, as a supplier and key player in the online gambling industry, BetConstruct always works with all relevant parties to reach practical and feasible solutions, and in Latin America this is no different – “especially since countries such as Columbia, Argentina, Venezuela and Peru have all been identified as great opportunities if and when the payments issue is sorted.”
“At present there are no clear leading operators in the online market, and given the interest the SAGSE attendees showed in our products, the BetConstruct team is very excited about our future in the region and we’re confident that companies and players alike will find our products and services perfectly tailored to meet the local Latin American needs,” the executive concluded.