In its latest review article, iGaming and sports betting platform provider Uplatform explains step by step how to build a successful brand in the Latin American market.
The iGaming landscape in Latin America is like a tasty cake fresh out of the oven. You can easily create a blockbuster brand with the right recipe and pour yourself a delicious serving. Here’s a recipe for baking from a lucrative brand.
Preparation time: 2 months
- Normative research.
- Solutions adapted to mobiles.
- Appropriate payment methods.
- Follow the trends.
The region has gained significant attention in the iGaming industry, and is becoming more attractive as a possibility as more potential entrants become accessible. Colombia, Peru, Argentina, Mexico, Uruguay and Brazil are some of the countries that have a thriving iGaming industry. Brazil, for example, has an outstanding legal record, and with the likelihood of legalizing sports betting soon, the country has the potential to become the world’s largest market for sports betting. So, what steps do you need to take to successfully create an iGaming brand in Latin America?
Step 1: Mix all the localization ingredients to tailor your dish to a selected country in the region.
Latin America has 20 countries and 13 dependencies, making it one of the most diversified regions in the world. Many of these countries have Spanish or Portuguese as their official language. A closer look at the regions where English and Dutch are spoken reveals even more variations. Modify your project to accommodate these requirements if you plan to release in these regions.
In addition to language, localization also takes into account the popular sports, leagues, and betting preferences of each region. It is no secret that soccer has conquered the hearts of Latin American fans. The region boasts some of the most passionate and dedicated fans in the world. The love for the sport has skyrocketed even more since Argentina took home the FIFA World Cup trophy. In fact, two thirds of all bets placed in the region are on soccer matches. Latin American fans not only follow the World Cup, but also the highly anticipated Champions League, the Italian Serie A, the English Premier League and the Spanish League. In particular, the last two have remarkably even levels of interest.
It is important to offer both big tournaments or leagues and local soccer tournaments or other sports. Soccer is just one of the many sports that attract sports fans from Latin America, so creating localized content for sports bettors is essential in this region. As a result, Uplatform provides a fully prepared and adapted betting program for Latin America that covers the preferences of local players. Horse racing, motor sports, tennis and basketball are just a few of the favorite local sports that they cover to suit the betting preferences of the locals in each region. They have more than 200 sports and 1.5 million live and pre-match events around the world to bet on, including regional delights such as the Brazilian league Campeonato Pernambucano U20 and the Chilean Tercera División.
You also need to review betting experiences. Each nation has its own betting culture, and even within a single nation, regional traditions can vary greatly. For example, players in Argentina have different betting habits than in Brazil, and even within Brazil, there are regional differences, and operators tend to have a higher frequency of lower bets. Various marketing tools such as bonuses, cross-selling, and other features can greatly boost player engagement. To follow several events simultaneously, Uplatform offers a unique live zone with the possibility of placing several live bets. This feature is very popular in LATAM. They also offer Bet Constructor, Bet Builder and a variety of unique bet types to keep LATAM bettors interested and entertained.
Step 2: Season your dough with extensive research to ensure compliance with regional stakes.
The legalization, regulation and taxation of iGaming have recently come to occupy a priority place on the agenda of the governments of most of South America. You must be aware of all local regulations to ensure that you are acting legally. Countries like Argentina and Uruguay are leading the way in approving the necessary regulations to strengthen the local economy and reduce the negative effects of illegal gambling.
On the other hand, Bolivia and Ecuador continue to be governed by regulations created more than a century ago, mostly by religious leaders, which has wreaked havoc on their gaming industries. Other countries, such as Brazil, are managing to bridge the gap and modernize their laws in the face of traditional opposition, applying progressive legislation.
Step 3: Revamp cooking with mobile-friendly options.
The iGaming sector in Latin America has experienced a meteoric expansion thanks to the availability of smartphones in the region. According to Statista, in 2020, 80% of Brazilians owned smartphones, and this figure was expected to rise to 88% in 2025. Adoption rates were 70% in Argentina and 70% in Chile. Since most people in these countries cannot afford personal computers or game consoles, mobile devices are becoming more popular. Even with the adoption of smartphones, coverage can still be different even within the same country; for example, rates are higher in the south of Brazil, but significantly lower in the north. According to data collected in 2020, 48% of Argentine households have Internet access through a computer. While the rate in Brazil is only 38.7%, it is 44.8% among Colombians. The LATAM market presents unique challenges with high mobile internet usage and low home PC penetration, making it essential for operators to offer accessible solutions through light web versions, mobile apps and mobile web. Uplatform provides a comprehensive solution to these challenges with its offers, including SMS and Telegram betting, to help operators successfully penetrate this market.
Step 4 – Add all the necessary payment options.
Banking and payment statistics in Latin America vary greatly by country and region. In Brazil, for example, most adults in the north cannot access financial services such as debit cards, credit cards, or even bank accounts.
Access to financial markets in Latin America differs from that of the United States or Europe. Local institutions, payment networks and fintech companies are preferred over traditional international institutions, demonstrating how different the financial landscape is in the region. Although cash transactions remain the dominant payment mode in many Latin American countries, mobile payments and digital wallets continue to gain traction among agents. Despite this, there is still a large part of the unbanked population. To address this problem, innovative fintech companies, banks, and governments in the region have developed alternative payment methods to provide financial services to those without access to traditional banking. This effort to adopt digital payments has been made to improve the overall financial landscape of the region.
Understanding the preferences of local bettors and offering them convenient payment options in their own country improves trust and the betting experience. With the decline of mainstream global banking institutions and the widespread use of payment alternatives, Uplatform is best suited to meet the needs of Latin Americans. They offer a wide variety of payment methods, including but not limited to e-wallets, mobile payments, cash, electronic currency exchangers, payment systems, cryptocurrencies, and electronic vouchers. They also facilitate payments through various gateways, such as Inovapay, Directa24, AstroPay, Pay4fun, Vcreditos and All4pay.
In addition, some LATAM countries require the introduction of agent schemes. Uplatform’s multi-level agent structure, extensive reporting and statistics give businesses full control of their operations, allowing them to adapt to unique market demands and thrive throughout Latin America.
Step 5: Set yourself apart with industry trending garnishes and decorations.
Esports are growing at a rate comparable to traditional sports in many parts of the world. Although LATAM may currently be a small esports market, the increasing number of teams participating in esports games in LATAM suggests that esports in Latin America will grow rapidly in the coming years. Dota 2, League of Legends and Counter-Strike: Global Offensive (CS:GO) teams already have a significant presence in the area. With the growth of local teams, the constant increase in popularity and the increase of tournaments in the region, LATAM is a market that should not be neglected.
Uplatform is delighted to be one of the leading providers in the rapidly expanding world of Esports. Its cutting-edge sports betting allows companies to take advantage of the exciting growth of the Esports market in Latin America. With the wide range of options available to Latin American Esports fans, such as CS:GO, League of Legends, Dota 2, Rocket League, and many other exciting games provide a world of gaming options. They cover the best leagues, random matches and a wide range of markets and are committed to providing the best esports betting experience possible.
Step 6: Cake hot and ready to serve
Now that your iGaming brand in LATAM is done and ready to be served. Baking and serving your cake with a trusted and experienced sous chef like Uplatform can ensure sustainable success. With their extensive hands-on experience and deep data analysis, they have created a range of effective solutions tailored to meet the unique demands of the LATAM market.
Let the experienced team at Uplatform help you navigate this exciting market and reach your goals. Contact them today for expert advice and guidance.