Marc Crean, VP for LatAm and Canada at OpenBet, outlines how BetBuilder products present a golden growth opportunity for operators in LatAm looking to boost engagement.
Brazil has football running through its veins and sports betting brands currently sponsor 19 out of 20 of the Campeonato Brasileiro Série A (Brazil Serie A) teams. The LatAm betting boom continues amid an expected market increase to $3.4bn by the end of 2025, and operators are likely to face a battle to attract bettors in the near future as competition within the region intensifies.
The LatAm market is expanding exponentially, and Brazil remains the focal point of discussions for the industry given its recent progress in making regulation a reality. The overall potential of this passionate sports nation is huge, which means having the right product offering is essential.
Campeonato Brasileiro Série A continues to be the main driver of engagement for sportsbooks given its local appeal. This is despite the increased popularity of some of the world’s biggest football leagues, including the Premier League and La Liga, which play host to Brazil’s biggest stars such as Real Madrid’s Vinícius Júnior and Arsenal’s Gabriel Jesus.
From a betting perspective, we are finding that BetBuilder products are delivering increased value for sportsbooks and helping them to attract a wider audience. The product itself allows sports fans and bettors to create a single betting slip that incorporates multiple match outcomes, ultimately leading them to build their own narrative during a sporting event. As we have seen across mature European regulated markets, this low stake/high margin product is incredibly valuable to sportsbooks.
OpenBet’s pioneering BetBuilder solution, powered by SportCast, has proven to help local operators create engaging experiences that pique the interest of bettors with revenue-boosting results. The product, connected with the player protection expertise of Neccton, enables operators a way to capture revenue from sports fans.
Since the Brazil Serie A season began in April, approximately 1.9 million bet slips have been processed by the solution in the LatAm region alone, making up 28.3% of all LatAm soccer slips during the last six months. With nearly $3 million (AUD) staked on the league already and the popularity of BetBuilder growing amongst bettors in the market, sportsbooks have an opportunity to expand their revenue streams for this intriguing betting concept.
Furthermore, the product continues to evolve with new markets being added that are already resonating with bettors. Player stat markets were introduced in July, including Shots and Shots on Target, with top scorer Tiquinho Soares of Botafogo receiving the most backing from bettors due to his impressive recent form.
Period markets are also attracting significant activity, with bettors enjoying the ability to wager on outcomes such as the next corners, cards and goals. Ultimately, it provides an alternative to more traditional betting product types and helps to elevate the overall user experience.
What lies ahead?
Looking to the future, BetBuilder products will continue to develop and operators offering more targeted markets to players should enjoy a continued boost in engagement.
LatAm is a diverse market with tastes varying across each country and the key to growth is differentiation and customisation. BetBuilder products, such as SportCast’s, get this right and have the relevant sports that appeal to local sports fans.
This was demonstrated recently when SportCast offered the industry’s first UFC BetBuilder product. Brazil has a particularly rich heritage in the mixed martial arts space, and UFC is estimated to have a fanbase of over 34 million Brazilians. The potential of this sport within the betting market is huge and we believe this product will grow exponentially as sportsbooks utilise it during quieter periods of the sporting calendar.
As the regulatory landscape evolves in LatAm and Brazil prepares to regulate sports betting, operators will understandably be preparing to hit the ground running.
Technology that enables players to personalise their experience will see operators stand out from competitors in a crowded landscape and those who can offer the widest range of markets will remain a cut above the rest.