While long-awaited regulatory change is finally beginning to manifest itself in the Brazilian gambling market, the industry is still very much reflecting on the inclusion of online casinos.
As the market takes shape, tapping into a wide variety of audiences beyond just sports fanatics is something that will be seen as crucial for operators eyeing long-term success in the region.
Martyn Hannah, Managing Director of Comparasino, told CasinoBeats: “The last-minute inclusion of online casino in Brazil will prove to be a game-changer. As we have seen in the US, sports betting alone is not enough to provide a viable market for more than a handful of operators (usually those with the deepest pockets). If you look at mature jurisdictions such as the UK, it’s online casino that delivers the stability and profitability that operators need.
“Sports has a big audience in Brazil and indeed all global markets, but the addressable audience for online casino is so much bigger, especially when you factor in non-traditional content such as crash games and their appeal among the lucrative but hard-to-reach Millennial and Generation Z audiences.”
He went on to underline just how significant the opportunity is when it comes to unlocking new audiences and bringing in new players. Pivotal to maximising the opportunity, he said, will be a localised approach and an efficient player journey.
There will also be challenges in terms of converting sports bettors into igaming players as operators look to transcend engagement and truly tap into the potential of the market.
Hannah added: “Those looking to make a move in Brazil and launch an online casino have a big opportunity to take advantage of, but they will have to ensure their offering is fully localised for the market. This means having a cashier that offers the payment options players use plus a lobby stocked with games from LatAm providers as well as renowned international studios.
“Running bonuses and promotions that offer genuine value will be important and so too will educating players and supporting them through well-trained customer service agents. Responsible gambling and making players aware of the tools available to stay in control of their play must be a priority, too. The operators and brands that can bring all of this together will absolutely put themselves in the driving seat to succeed in Brazil.”
CasinoBeats Breakdown: Watching the Brazilian market take shape is truly going to be one of the most fascinating developments of 2024. Whilst sports betting is an open goal in terms of engagement, the challenge for igaming is far more complex and that’s where operators are going to need to be meticulous and ensure they have an appropriate strategy to truly tap into the significance of the market.
