Global iGaming supplier of Sportsbook and Casino platform GR8 Tech has a successful participation at this weeks’ BiS SiGMA Americas fair in São Paulo, Brazil. The company hold over 150 meetings with operators and other stakeholders and won the ‘Best Workplace 2024’ award at the SiGMA Americas Awards ceremony. These interactions have laid a solid foundation for GR8 Tech’s strategic expansion in the region and provided the team with significant insights into the evolving Latin American iGaming market.
A closer look at the Brazilian market and wider LatAm
The most important thing to understand in the LatAm region is that it’s very diverse. There are significant cultural and operational differences that necessitate a localized approach.
According to Evgen Belousov, CEO at GR8 Tech: “Brazil is not synonymous with Latin America. Each country on the continent has its own unique characteristics. 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.”
Belousov further discussed the Brazilian market’s competitive nature, highlighting retention strategies’ crucial role. “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,” he added.
For his part, Yevhen Krazhan, CBDO at GR8 Tech, 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.”
As for Thomas Carvalhaes, Senior Business Development Manager for the Latin America region at GR8 Tech, he provided his expertise during the panel discussion Understanding the demands and evolution of the B2B market. He highlighted the demand for localization and intuitive technology by explaining: “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.”
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 3-6th in Manila, Philippines. This upcoming event presents another fantastic opportunity for GR8 Tech to demonstrate the capabilities of its flagship GR8 Sportsbook platform, and to forge new partnerships in another exciting and diverse region. The company invites all its partners and clients to stay tuned, following the updates on its website.