Betting holding company BetBoom is actively expanding its presence across Latin America, focusing on countries like Peru and Mexico while awaiting a license in Brazil. The company tailors its gaming products to each market, accounting for local preferences such as esports in Peru and traditional sports betting in Mexico.
In a recent interview with Yogonet, the company shared its localization strategies, regulatory challenges in Peru, and its expectations for the growing Latin American online gaming market. Additionally, BetBoom highlighted the importance of esports and casino offerings in their business strategy alongside sports betting.
What are the key differences between gaming audiences in Mexico and Peru, where you already have an online presence? How do you approach localizing your gaming offerings for these markets?
For each country with local licensing, we create a separate, independent product that is meticulously adapted to the audience, taking into account their cultural characteristics, preferences, and priorities regarding gaming products. We understand that successful market penetration requires a deep understanding of local needs and user behavior, so it is important for us to offer not just a universal solution, but a product that meets the specific expectations and demands of each region.
Each country has unique priorities when it comes to gaming categories. In Mexico, for instance, there is a strong interest in traditional sports betting and casinos, while in Peru, esports disciplines are particularly popular. In Peru, we focus heavily on developing our esports offering, as we believe in the strength of our product and our expertise in this area.
Localization is one of the key aspects for us when entering any new market. We invest significant time and resources in product adaptation—from meticulous proofreading of all texts and communications in local languages to fine-tuning the interface to match cultural and regional nuances. This includes adapting visual content, terminology, and considering local holidays and traditions to make our product as relatable and understandable as possible for the user.
Furthermore, we believe that quality localization doesn’t end at the launch stage. We systematically engage with clients, collect and analyze feedback from end users, allowing us to respond promptly to their needs and continuously improve the product. We use this data for the ongoing optimization of our offerings, maintaining high standards of quality and customer satisfaction at every stage of interaction.
Our strategy, therefore, involves deeply immersing ourselves in the specifics of each market and creating unique, fully adapted products that meet the expectations and preferences of our users in each country.
In regard to Peru, how has the recent opening and restructuring of the online gaming segment affected your operations? Has it impacted your business activities in any way?
We actively support the evolving regulatory trends in the Peruvian market. We have obtained a temporary license and are diligently working towards securing a permanent one. A crucial part of our current efforts is product certification to ensure our offerings comply with all required standards. This certification process is essential for confirming that our product meets the high regulatory expectations set by the market.
Despite these regulatory changes, we continue to scale our presence and operations in Peru. Partnerships with local influencers and various esports organizations have provided us with valuable opportunities to connect directly with the audience, engage in meaningful interactions, and host numerous activities that have further established our brand presence in the market.
Overall, while the regulatory landscape is shifting, we view these changes as an opportunity to strengthen our position in Peru. We are committed to adhering to the new standards and see this as a positive step towards building a sustainable and compliant business that resonates well with local players.
Online gaming is experiencing explosive growth in Latin America. What major trends do you see gaining momentum in the online gaming sector?
We are observing several key trends in the online gaming sector across Latin America. One notable trend is the growing popularity of game providers offering slots, which continue to attract a significant number of players.
When it comes to the specifics of each region, certain providers and products stand out and become leaders, reflecting the unique tastes and preferences of the local audience. We place great emphasis not only on tracking product demand trends but also on analyzing the broader external environment. This approach allows us to keep pace with market changes and make well-informed decisions about integrating new products. Often, we select products that, based on our expertise and market insights, have the potential for success.
Overall, our approach is centered on closely studying these emerging trends and adapting our offerings to meet the specific needs of the Latin American market. This ensures that we remain competitive and relevant in this rapidly growing sector.
While BetBoom is already established in the mentioned markets, you are currently awaiting a license in Brazil. What expectations do you have for this brand expansion? Additionally, which other regional markets are you particularly interested in entering?
Latin America is a key strategic direction for us, and Brazil holds a central place in this strategy. We anticipate that obtaining a license in Brazil will open up significant opportunities for expansion, given the potential of this large market. From the outset, we have been actively involved in the regulatory process to meet all requirements and expectations.
Our plans for expansion include increasing our market share and offering localized products tailored to the needs of local customers. We aim not only to establish a presence in the market but also to actively influence its development by providing innovative and high-quality solutions for users.
Expanding into Brazil, soon into Mexico, and obtaining the Peruvian license opens up new opportunities for us to promote our project in Latin America. We are developing a communication and marketing plan that is part of our long-term strategy to strengthen BetBoom’s position and build a successful business in these countries.
Finally, concerning the composition of your results, are sports betting currently the main attraction for your online customers, or does the online casino offering also have a significant player base? In terms of business results, which vertical generates the highest profits for the company, and what percentage does it represent?
Sports betting is a fundamental segment of the Latin American market and continues to attract a large number of online clients. At the same time, we are actively expanding in the esports sector, significantly scaling our presence. We support this growth by sponsoring teams like BetBoom Team and Team Spirit, and by participating in major esports events such as BetBoom Dacha, which helps us reach and engage a broader audience.
Additionally, the online casino segment also holds a significant importance for us and contributes substantially to our overall results. We observe a constant migration of customers between categories, with many players exploring both sports betting and casino offerings. This cross-category engagement allows us to cater to diverse interests and enhances our ability to generate revenue across multiple verticals.
We strive to optimize both verticals, as each plays a crucial role in our strategy and business performance.
