Expanding into new markets is no simple task for operators, particularly if they have little or no experience in the region. Latin America (LatAm) is the current host of the industry’s enthusiasm, but how are game developers and operators gaining an upper hand over the competition? Carlos Garcia Carvajal, commercial director for Iberia and LatAm at WorldMatch explains how to personalise gaming content with the help of adaptive technologies.
Since igaming legislation began taking form in the LatAm region in 2016, the various expectations and requirements have been a challenge to keep up with.
For Garcia Carvajal, one of the first challenges facing an operator in these markets is a having a full understanding of the regulatory landscape. Focusing on a few crucial territories – Brazil, Peru, Mexico and Colombia, where WorldMatch has now been operating in the last few years – has allowed the games developer not to spread itself too thinly. Strengthening an understanding of each country’s dynamics rather than attempting a one-size fits all approach has been key to becoming experts in each dynamic market.
“Tailoring our content to align with these unique characteristics not only enhances player engagement but also fosters a sense of relatability and immersion.”
The growing opportunity within new regulatory landscapes
With the recent legalisation of sports betting in Brazil, the LatAm region is a growing opportunity for operators looking to expand their market base, and this could provide highly lucrative if played correctly. Take for example, the expected annual revenue of $2.4bn for Argentina alone and you can see why operators are determined to make a name for themselves within the market.
Getting a clear strategy in place before penetrating the LatAm market is paramount for operator success, especially since player acquisition costs can be sky-high. From the tone of content to language localisation, operators must know the landscape with acute accuracy order to attract repeat customers.
Assessing industry trends to create enriched operator content
When it comes to unlocking the potential of emerging LatAm markets, Garcia Carvajal believes that fostering “cutting–edge business development strategies” with the backup of technological advancements will mitigate teething problems from the offset.
For Worldmatch, ensuring its games remain at the forefront of innovation is achieved through a consistent alignment with emerging technologies.
Garcia Carvajal explains, “We recognise the paramount importance of staying attuned to the dynamic landscape of emerging technologies, as this not only bolsters our competitive edge but also enriches the overall gaming experience for our users.”
Ensuring gaming content is effectively localised through the use of adaptive technology ensures higher player satisfaction, engagement and ultimately, retention rates. Combining human experience with the speed and diversity of AI analytics renders localisation is a win, win for operators and players alike.
Gaining insights into player behaviour
“Leveraging big data analytics enables us to glean invaluable insights into player behaviour, preferences, and overarching trends. This reservoir of information informs the continuous refinement of our games, facilitates targeted marketing strategies, and underpins the delivery of personalised gaming experiences that resonate with our diverse user base.”
WorldMatch’s approach to localisation includes a diverse selection of subtopics outside of just translation. These aim to fully align and create a familiarity based on regional legislation, strong local partnerships, and preference with each unique, engaged community.
Garcia Carvajal explains, “The importance of localisation in this context cannot be overstated. Latin America is a region characterised by rich diversity, encompassing various languages, cultures, and gaming preferences.”
Fostering successful partnerships in LatAm
While AI can understand players at a more in-depth and complex level than human analysis, the power of fostering successful partnerships in LatAm remains of upmost importance. Without a network of organisations and locally-based individuals supporting the products, success will be short-lived.
To tackle this issue head on, WorldMatch advocates hosting regular conversations with current and potential customers. Not only does this foster a stronger understanding of the nuances of a region but it can initiate communications with a wider pool of potential partners. As an example, WorldMatch has formed partnerships with leading LatAm platforms to share its most popular LatAm slots titles, including American Roulette, Pussycats’ Valley and Book of Pharaon.
“Tailoring our content to align with these unique characteristics not only enhances player engagement but also fosters a sense of relatability and immersion.
Garcia Carvajal continues, “It ensures that our games are not perceived as foreign entities but rather as experiences that are intimately connected with the cultural fabric of the audience.”
Putting safety first: Understanding compliance frameworks
The challenge of understanding compliance needs is another area in which localisation, through AI capabilities, can do the heavy lifting for operators.
It has been highlighted from leading safer gambling advocates GamCare that through technological advancements, operators are keen to not only reach legislative requirements around safer gambling, but to exceed them.
For Garcia Carvajal it’s important that WorldMatch continues to advocate for safer gambling and take steps to evolve its solutions to help this cause.
“Furthermore, as responsible gaming assumes greater prominence within the industry, we are actively exploring solutions that align with our commitment to fostering a safe and enjoyable gaming environment.
Garcia Carvajal continues, “This encompasses the implementation of tools for self-exclusion, robust age verification technologies, and other measures designed to mitigate potential issues related to addiction or unhealthy gaming habits.”
Predicting market trends in LatAm
Looking ahead, WorldMatch predicts a shift of market dynamics which could throw up an array of unexpected challenges and opportunities. However, potential outcomes can be planned for, and adapted to, through localised partnerships and a thorough assessment of expected markets.
Garcia Carvajal highlights, “Our strategic moves will be attuned to these changes, with a keen eye on acquisitions that can bolster our presence in emerging markets. The coming years are expected to witness the consolidation of regulatory frameworks, paving the way for strategic alliances and expansion into regions that exhibit growth potential.”
“Our approach is centered on flexibility and adaptability, allowing us to align with the market forces that shape the industry. It is essential to note that growth expectations are contingent on the ability to forge the right partnerships and assess markets where collaborative endeavors can yield mutually beneficial outcomes.”
Anticipating variables in growth patterns
“Anticipating and meeting the expectations of growth is a multifaceted endeavour that necessitates a strategic and agile approach. WorldMatch is committed to several key initiatives to ensure not only sustained growth but also a leadership position in the evolving gaming landscape.”
As the industry adjusts to find its feet in the emerging markets of LatAm, WorldMatch recognises that potential growth varies from country to country and may even be dependent on differing governments.
A fundamental commitment to working with advancing technological capabilities is key to the progressions and should remain at the heart of an operator’s growth strategy.
For Garcia Carvajal, WorldMatch is well attuned to the challenges of entering a new market area.
“WorldMatch’s strategy to address and meet growth expectations revolves around adaptability, collaboration, innovation, diversification, regional focus, regulatory compliance, and a steadfast commitment to customer satisfaction.”