"Regulating the Peruvian market will strengthen the LatAm region and encourage other countries to regulate as well"

“Regulating the Peruvian market will strengthen the LatAm region and encourage other countries to regulate as well”

The LatAm gaming industry will reunite in the upcoming 19th edition of the Peruvian Game Show (PGS)It will take place on June 15-16 at the Jockey Exhibition Center in Lima. SOFTSWISS will be among the attendees of the big regional eventWith its iGaming specialist and software provider, it is ready to showcase a range of online gaming solutions including sports betting, game collecting, crypto casino and more.

“We have been working hard to enter the LatAm market since March of this year,” Jonathan Felix Vilches, Regional Business Development Manager at LatAm, told Yogonet in an exclusive interview ahead of the event.. “We hope to continue to generate and position knowledge about our brand and solutions as we sign key deals with local partners across a variety of verticals.”

in conversation with YogonetVilches explains what solutions the company will focus on at PGSIt reflects the role Peru – and the region in general – currently plays in SOFTSWISS operations and discusses iGaming trends on LatAm, including a move towards crypto and market regulation.

SOFTSWISS will be attending the upcoming edition of Peru Gaming Show. What will the company’s presence at the event be like and what will the business focus on at the show?

Peru Gaming Show event is one of the most important events in LATAM. We see great interest in our solutions by managers and iGaming companies in the region.. For this reason, SOFTSWISS will participate in the fair with a booth.

For this event we will focus on providing iGaming solutions in sports betting, game collecting, platform and jackpot management, affiliate marketing and crypto casino solutions.aroused great interest in the region with new projects. Our solutions are certified and available to meet the requirements of new regulatory projects.

PGS is one of the most famous trade events in the region. What are your expectations for this upcoming edition and what impact could this potentially have on the company?

PGS had an important position in the region as an important event to present iGaming solutions and services to the industry representatives of this region. We have been working hard to enter the LATAM market since March of this year. We hope to continue to generate and position information about our brand and solutions. while signing important agreements with local partners in various verticals strengthened by our innovative solutions.

What major role do Peru and the LatAm region currently play in SOFTSWISS’ operations and plans? In what ways can the business help its partners in the region?

Peru is considered one of the main markets in the region and is currently attracting international attention for the current discussion of iGaming and the draft regulation for sports betting. We believe that once the regulation is approved, the Peruvian market will consolidate and continue to grow in the coming years.supported by the implementation of cutting-edge platforms and solutions.

Regulating the Peruvian market will strengthen the LATAM region and encourage other countries to regulate their markets. This will undoubtedly attract more investors and companies specializing in the iGaming industry to benefit the entire region and millions of players.

Industry trends include the growing role of iGaming, an expanding market currently in the LatAm region. How does the landscape differ from other jurisdictions and what opportunities does it present for operators looking to expand their global footprint?

LATAM is a region with a lot of growth potential in the gambling industry.. A few years ago, the retail channel led the sales and choice of players in all segments (casino, sports betting, lottery games, horse racing, bingo, others). To date, they have a significant presence throughout the region, but Online channel begins irreversible growth as pandemic leads to retail channel closure. It primarily encouraged players to seek, learn and use online channels and explore this exciting world of online gaming.

It is now the task of platform providers and operators to offer a wide and diverse portfolio of games with high speed and resolution to keep players connected and satisfied., between the ages of 20 and 40, of which today more than 75% are young. There are predominantly men in this segment, but it should be emphasized that women also participate in the betting world. This panorama of market potential is very attractive to global companies and investors.

We have seen an increasing penetration of mobile technology and crypto in other iGaming markets. Does this also apply to LatAm? How will the market develop here?

LATAM is a region with enhanced internet coverage and deployment of mobile networks, mainly 4G LTE technology. Now 5G technology is being implemented in the main cities of every country in the region. According to leading telecommunications companies, 5G will be the mainline in the entire region by 2026.

With the features of this technology, We hope to look forward to the promotion of innovative platforms and games in the world of iGaming, which has made an unprecedented leap in the mobile gaming and financial industry.. A significant evolution in digital payment methods, to date, will manage to involve millions of people. outside the online financial system for different reasons.

Speaking of crypto, it’s important to note that LATAM is the global leader in using cryptocurrencies for buying and selling transactions.. Every day there are more and more interested people searching and learning about Blockchain, cryptocurrencies and trading these securities. With this trend, we see crypto gambling growing and players are experimenting with this technology and learning from it.

What we hope to see in the coming years is the continued growth of crypto projects operating in this high-tech segment.. Brazil, Argentina and Panama are discussing regulations regarding the use of cryptocurrencies and we expect other countries to follow this trend.

Peru is currently reviewing its gambling laws to regulate online sports betting and iGaming. What are your expectations from this judgment? And do you think the current regulatory environment in the region supports the innovations and changes we see at iGaming?

The Ministry of Foreign Trade and Tourism, through the General Directorate of Casino Games and Slot Machines, submitted the first draft regulation on internet games and sports betting three years ago. Today, we see that the current government has the political will to pass the law in collaboration and consensus with the Congress of the Republic. This bodes well internationally.and we hope this law will be passed this year.

According to my market knowledge and experience I believe that the regulation will achieve a new growth momentum in the sector that will ensure a full recovery in the coming years after a crisis due to the COVID-19 pandemic.. Estimates of tax collection for exploitation rights in the iGaming industry average around $200 million per year, which translates to more than $1.6 billion in annual sales. However, we must add to this amount the sales of casino games, lottery games, horse racing and other games. annual sales after adjustment could exceed $2.5 billion annually and continue to grow over the next six years.

Based on the news and after speaking with some regulators at LATAM, we have confirmed that iGaming and the regulation of sports betting is on the agenda of governments.. This panorama makes LATAM a potential region for investments and innovative solutions in this sector. A regulated regional market benefits all sectors of the industry. The economy provides more investment, employment, security and protection of players and allows governments to obtain resources through exploitation rights.

As I see it, potential tax collection in the region could exceed $3 billion annually. And the average annual market size can be more than US$30 billion, with Brazil being a leading region.. These are estimates and can be exceeded in a market that is consolidating, maturing and sustaining sustainable growth, as the Colombian market shows.

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