It is undoubtedly Colombia which leads the way in this region following the recent regulation of their gambling industry and with nine companies already receiving licenses to operate there.
Colombia carries with it significant scope for the gambling industry growth as betting is considered a popular pastime and slot machines are everywhere throughout the country. Its population of 48 million is extremely attracted by casino games and lotteries, without mentioning the strong interest in football competitions and horse races.
In addition with Perú, Argentina and Brazil getting closer to complete or state by state regulation, the region can certainly be presented as an area which significant promise in the midterm.
The strong penetration of smartphones, internet and specially the long history of land-based gambling in the region generate conditions which allow gambling companies to be optimistic about new product adoption and the growth of future online players.
Besides legislation issues, an additional positive marker for the potential of the Colombian gaming market is the leap in technology that are being made that increase the exposure of mobile gaming to new swathes of the population, year by year.
The advance of technology and online payment options will undoubtedly make it easier to access the sportsbook and casino games, translating this passion for gaming into online success for those operators best able to target the country through its deep knowledge.
I firmly believe that the potential of the Colombian gaming market will soon be recognised worldwide and, don't worry, we'll be there to say: "We said so.”
Asia with its complex regulatory outlook and requirements does represent a huge opportunity for those operators who can create highly customised content tailored for the region, primarily due to its large population and smartphone penetration.
Of the ones to follow closely, I'd list Africa and India. The steps in their journey toward regulation and the demographic of players there are becoming clearer as the events and conferences start to appear in those markets. It’s important to highlight that the product offering will need to be a dynamic one.
The fact that players in these markets are currently not playing certain types of games is potentially linked to their lack of exposure to such games.
That's why in the case of slot games, markets and operators that historically were focused on other gambling opportunities, start on this path by creating very simple games, before slowly evolving into slot games of higher complexity.
As content suppliers we have an important role educating these new markets on the standards of social responsibility, player retention, promotions and regulation since the mature European market has gone through the development of all such initiatives.
Irrespective of the fact that there are some types of games that are successful worldwide that will eventually be launched in these new markets, there first needs to be a localisation of gaming offering in order for games to fit regional requirements and be found attractive locally.
LatAm will not be an exception. Local traditions and places like the Iguazú falls, Brazilian beaches, Machu Picchu and the Andes amongst many other topics will help the local players feel more comfortable around this expanding industry. Localising is a lot more than translating. It is analysing the local culture and working together with locals as to make sure that the right elements are being considered.
On a regulatory side, PAGCOR (the gaming regulator in the Philippines and one of the main regulated markets in Asia) will accept European games and platform certifications after a review and validations. The same has happened in Colombia, which requires just a transfer of approval of the certificates issued by the main labs used in the European markets. So far the compliance side seems to be aligned with what is being done in Europe.
In summary, I believe that the new markets have become a reality that cannot be missed or ignored by the big European corporate players. For me a mix of porting the long experience in acquiring, marketing to and retaining players, plus localised content and offering that considers the local cultures will take us to the best of both worlds.
