Blokotech: iGaming Roadmap for LatAm Success
Ambitious iGaming stakeholders will be keen to take advantage of the exciting expansion opportunities that continue to emerge across the LatAm region. However, its fragmented regulatory frameworks and specialised tech requirements mean that only the most robust iGaming companies will be able to successfully serve this market.
Blokotech is a leading platform provider with a wealth of experience and knowledge from the LatAm market. This, coupled with their advanced tech capabilities makes them well-equipped to guide operators to market success in the region.
We recently caught up with their CEO, Salvo Messina to hear his thoughts on the true growth opportunities available in Latin America and more importantly, what steps need to be taken to leverage these and ensure market success.
How has Blokotech’s LatAm heritage shaped the design, functionality, and user experience of the newly launched platform?
“Blokotech’s rich LatAm heritage has significantly influenced the design, functionality, and user experience of our new platform. We’ve worked hard to incorporate bespoke functionalities specific to numerous LatAm markets, such as accommodating local currencies, languages, preferred odds formats, and region-specific payment methods for both players and local operators. Adding to this, we cater to the diverse range of LatAm players by ensuring that the user experience is both intuitive and easily accessible. This emphasis on regional preferences guarantees a seamless and familiar experience for our LatAm audience.”
Given the diverse iGaming landscape across LatAm, how does Blokotech aim to meet the unique demands of individual markets within the region? Are there particular countries you’re targeting in the initial launch phase?
“Blokotech actively addresses LatAm’s diverse iGaming landscape by conducting continuous market analysis to gain a comprehensive understanding of the unique demands of each country across the region. By customising our game offerings and promotions to cater to individual markets, we ensure relevance and engagement. Initially, we are targeting influential markets such as Venezuela, Brazil, Peru, and Argentina, given their size and potential. Additionally, we have ambitions to make our mark in Mexico in the not-too-distant future.”
Considering the varied regulatory environments in LatAm, what challenges has Blokotech faced when launching its platform in the region?
“Blokotech’s launch in the region has had to navigate a few challenges that arose owing to LatAm’s complex regulatory environments. Primarily, we’ve had to ensure that our clients are compliant with their specific country regulations. This has meant navigating a multifaceted web of intricate regulations across countries and continuously adapting to the shifting regulatory landscapes. Keeping pace with these ever-changing regulations is imperative for a seamless operation in the region.”
Brazil’s regulation is progressing through parliament, aside from here, what other markets are of interest for Blokotech?
“Aside from Brazil, Blokotech is closely following the progress in the Peruvian market. Peru’s Ministry of Foreign Trade and Tourism (Mincetur) has just approved sports betting and iGaming. The country’s gaming law will come into effect 120 days after these regulations were ratified. Operators already active in Peru’s gaming space will have from 10th February to 10th March 2024 to apply for a licence. It’s worth noting, Peru is the third South American country to regulate this sector, following Colombia and certain provinces in Argentina. Those businesses who fail to obtain a licence from Mincetur could face a fine upwards of S/990,000 (€245,394/£212,401/$257,838) and a minimum of S/742,500 which emphasises the importance of having the correct framework in place.”
Given the importance of Responsible Gaming globally and in the LatAm region, what measures and tools has Blokotech introduced on its platform to ensure a safe gaming experience?
“To ensure a safe gaming environment for its partners, Blokotech has integrated a plethora of measures and tools that promote Responsible Gaming. Our platform features age verification, self-exclusion, and deposit limit modules for players’ protection. Additionally, we’re in the process of developing an AI-based solution designed to identify players potentially at risk of gambling issues.
“Moreover, we prioritise communication and education about responsible gambling to foster an informed and cautious user base.”