Supplier of sports betting and gaming platforms, Sportingtech, has confirmed that it has signed an agreement with an operator to break ground in the Brazilian market and provide its dedicated sportsbook solution in the country. This will allow the tech company to establish a presence in Brazil as Sportingtech pivots towards other Latin American markets.
Sportingtech Readies to Make a Splash in Brazil
Sportingtech is backed by a consortium of businesses that includes influencers, affiliates, media channels, and other solutions that are all going to be put together in order to give the company the biggest chance of succeeding with the new operator.
While the operator’s name was not revealed in the press release shared with the media, Sportingtech will be deploying its Quantum platform. The two partners are supposed to launch at some point in early 2023, with other aspects of the launch being finalized at present time.
Sportingtech is definitely not shying away from the opportunity to expand in the Latin American market which is one of the most promising regions to be involved with if you are a sporting betting or iGaming company. While regulation is still not clear-cut, there has been significant progress in making sure that operators are able to garner some market reach and access.
Sportingtech sales director Jack Smith welcomed the opportunity to be entering the Brazilian market and explored the implications for the company. He said:
We’re incredibly excited to be partnering with this brand at a time when our growth in Brazil couldn’t be moving at a faster pace.Sportingtech sales director Jack Smith
Smith confirmed that the company’s presence in the region was a testament to what was to follow next, both in terms of company strategy, but also the untapped potential that is expected to start showing in the region as regulation advances.
Regulatory Headwinds and Local Market Quirks
Sportingtech is capable of addressing all expansions as it offers the utmost quality of sports betting and casino platform which will be essential to establishing a proper gambling industry. Latin America is indeed an important market that is yet to be explored in full. Most of the tardiness in launching more decisively in the region is due to regulatory back-and-forth.
Brazil is still uncertain as to what it wants to do next and with political turmoil over Jair Bosaro’s public resentment of releasing power should he lose the upcoming Presidential elections, one of Latin America’s biggest sports betting and casino markets may need to wait before it can get a clear-cut regulation for its gambling industry.