Entering into new markets can be tough for operators, especially when they lack experience in the region. Latin America has long captured the attention of international sports betting operators. In the previous article, we’ve covered a detailed LatAm sports betting market review, showcasing its huge growth and enormous potential. But, we haven’t mentioned what Upgaming offers to the LatAm sports betting market. So, in the given article, we will outline key considerations for entering this market and detail what we provide to sports betting operators who are planning to start a sportsbook business in LatAm.
We will present the key factors in a step-by-step nature, explaining how these elements will boost your performance and help you gain a competitive advantage in the Latin American sports betting market. First, we will start with the importance of scalability and personalization.
Scalability and Personalization
Sports betting is the most popular iGaming content in Latin America. Nonetheless, just having a great sportsbook does not guarantee that your sports betting website will be successful in the LatAm region. You need to consider multiple factors and components.
The local insight is one of the most significant factors that will determine the success or failure of your sports betting business. It is what gives you the most basic information about the given markets’ preferences and trends. With this information at hand, you are in a position to provide a fully customized, personalized product. Personalization helps you to attract clients from the given region. It also works out as one of the best retention strategies, allowing you to sustain loyal customers.
Now, let’s ask what personalization means in Latin America. It encompasses myriads of things, but first, let’s start with the most basic—language localization. You do not want to launch a betting website without the support of local languages, such as Spanish and Portuguese. Another thing is the view type of your sportsbook, odds type, which should incorporate Decimal, American, and Fractional odds. Localized bonuses are also an important factor to consider.
The scalability implies that your sportsbook software can endure high traffic. And this relates to the technical side of your sportsbook. In simple terms, when 10 000 users are active simultaneously and try to place a bet, your software must stay functional and operate at its’ best without showing glitches, errors, and high loading speed.
And since we are talking about this theme, one thing that makes Upgaming’s sportsbook unique is its scalability. We offer a highly scalable sportsbook that can take up increasingly high volumes of traffic and still operate in an ultra-fast manner, which is another incredible benefit it provides. Moreover, our sportsbook comes with LaTam view, a personalized front-end for Latin American players, with a comfortable interface for betting on multiple events.
This is only the small list of features our sportsbook has. It also incorporates a bet builder and customized bonus system, enabling you to create personalized bonuses, tournaments, and leaderboards for LatAm users. For more information about the detailed analysis of these features, you can check out our article – Must have features of sportsbook software.
Rich Sports Betting Content
Tailoring your betting offers to match the preferences of local players is essential. This includes not only the types of betting markets but also the sports that are favorites in the LatAm region, which should be a key part of your sports betting content.
Localization goes beyond translating into different languages. It also means focusing on local sports, leagues, and betting habits. Latin Americans are incredibly enthusiastic football supporters, and football ranks as the top sport with over 67% of bets placed on it.
But LATAM sports fans don’t just stick to the major football leagues; they also follow their local teams and leagues closely. For operators in Latin American countries, it’s crucial to include the content of domestic leagues and teams to connect with and attract LatAm sports bettors.
For that reason, Upgaming offers a regionally tailored offering that is comprehensive and ready to satisfy all LATAM players. Our content includes +45 football leagues from Latin American countries, including exclusives such as the Copa America, Brazilian Campeonato Roraimense, U20 league and Chilean Primera Division, Tercera Division in Uruguay, Colombian Primera A, etc. To cut it short, we have all the football events LatAm users love.
Our sports betting content is carefully localized to match the betting preferences of the LatAM population. Beyond football, it features other popular choices like Formula 1, horse racing, motorsport, esports, tennis, MMA, and basketball.
Understanding the different betting experiences is crucial. Each Latin American country has its own unique gaming culture. The frontrunners are Brazil, Argentina, and Colombia. For instance, Brazilian users have their own preferences when choosing the sports betting platform, which you need to consider when starting sportsbook in Brazil.
Nonetheless, betting habits in Latin America differ from those in Europe. What it means is that, in general, LatAm operators typically receive smaller bets but more frequent betting. This can translate into one thing – the diversity and richness of your sports betting content is one of the key elements to success in the LatAm sportsbook market.
And yes, Upgaming has it all when it comes to the rich sports betting content. Our sportsbook software offers +112 000 live events, +96 000 pre-match events, +5 200 betting markets, and +140 types of sports. All of these come with ultra-fast and scalable infrastructure, back office, fast resulting, high coefficients, support of in-house bookmakers, and so on.
Experience in the LatAm market
Now, this is one of the most important things. You need to connect with a sportsbook provider with experience and know-how in the market. It’s also important to search for other partners, for instance, affiliates, who have relevant knowledge about the LatAm market. Providers and partners with prior experience in the latAm market know what local users need, and they give you the product and service that better suits your needs.
Working with an unreliable and inexperienced partner benefits no one. So, you must check whether your sportsbook provider has a good reputation among other LatAm operators. You need to consider their time in the business, customer feedback, the proportion of negative versus positive experiences, and overall client satisfaction.
Look up reviews on their company, talk to them and their clients, and get a sense of who they are. You can also find whether they were present at the iGaming exhibitions such as SiGMA Americas and SBC Summit Latinoamerica. It means that they are active in the region, have partners, and have some important insights about the market. For more information about this theme, read our article How to choose the sportsbook software provider.
Upgaming has more than 50 sports betting operators and partners in Latin America. They are using our sportsbook software and iGaming platform to offer a top-quality betting experience to LatAm users. In fact, the entry of our sportsbook software into Brazil is one of the factors that explain the increase in the average bet amount per user in Brazil. Sounds intriguing, right? Well, read the following article: Brazil’s Betting Boom: A Closer Look at Average Bet Growth.
Moreover, we’ve been actively involved in international summits in Latin America, such as SiGMA Americas. Throughout the last decade, we’ve acquired a lot of knowledge about the market, and we know why LatAm is one of the most promising and profitable sports betting regions. So, by establishing a connection with us, you’ll get not only cutting-edge software solutions but also the support of an experienced provider.
Effective payment system and safe processing
Before entering the Latin American sports betting market, you should know that payment processing in Latin America faces some challenges. This is primarily due to complex financial regulations and limited access to traditional banking services. This can complicate deposits and withdrawals for bettors and make it tough for inexperienced operators to handle payments efficiently and securely.
Market research and data from international consulting firms focused on Latin America show that 54% of consumers in the region use digital payment methods, while 46% still rely on cash.
Despite some advancements, all payments in the region are processed by banks only on weekdays. This limitation can create problems for operators, such as potential fraud when players bet with funds not yet depicted in their accounts. And this becomes apparent to the operator only later. Currently, the popular payment systems in Latin America include PIX, Boleto, and Pay4Fun. Upgaming offers all these payments plus multiple cryptocurrencies for digital payments that promise instant deposits. So, we incorporate all of the aforementioned methods in our payment system to enable you to offer multiple customized payment options for clients in LatAm. This significantly enhances the convenience, speed, and safety of payments for you and your users.
Sportsbook Risk Management
When we talk about safety, we shouldn’t forget the security of the whole platform, which has been one of the main themes of iGaming trends & insights in 2024. Your sportsbook’s safety can be assured by having some important tools that protect you from fraudulent activities.
To avoid the risk and guarantee the protection of your platform, we provide sportsbook risk management and Anti-Fraud AI tools. These are complex software that can execute payment monitoring, sign-up and login monitoring, provide IP fraud score analysis, and offer multiple other beneficial features. Our risk management tools have alert systems that notify the operator in case of some unusual activities, for instance, an unexpected increase in bets on some events. To cut it short, with that in hand, you are well-equipped against any kind (whether big or small in scope) of risk and danger. If you are interested, you can read more about our sportsbook risk management tools at the given link.
Furthermore, Upgaming also has a team of +120 in-house bookmakers, who constantly monitor the odds and can set limits in case of some strange activities. Beyond this, they ensure that you won’t receive bets on matches that are fixed.
Conclusion
Upgaming’s comprehensive offerings are designed to meet the diverse needs of the Latin American sports betting market. Starting from the fast sportsbook software that ensures scalability and personalization to tailored content that resonates with local preferences, we equip operators with everything they need to succeed in this market.
Our proven track record, coupled with innovative solutions and robust risk management tools, positions Upgaming as a reliable partner for the ones who are looking to make a mark in the LatAm sports betting scene.
So, by choosing us, you’re not just getting a software provider; you’re gaining a partner with deep regional expertise and a commitment to advancing your business.
