Altenar
Altenar’s Dinos Stranomitis: The latest on Canada and Brazil
The iGaming markets across the Americas are booming at the minute – offering a wealth of opportunity for B2B suppliers and operator brands alike.
To get the latest on developments, we sat down with Altenar COO and Co-Founder, Dinos Stranomitis, to discuss how Canada and Brazil are overcoming their respective challenges – as well as some top-notch insight on the ways markets in both regions are looking to continuously adapt.
With Canada and Brazil fairly new to the online betting scene, how are these regions fairing in these early days for them?
Canada and Brazil are incredibly different markets – on the one hand, Canada is a market where we see a very North American approach, with new regulation in place. In contradiction, we have a Latin American country that is still evaluating regulation, which has taken many years. Brazil has not moved quickly in its regulation process, putting this it at odds with Canada, a country that has now moved faster towards regulation. This requires us to adapt our approach accordingly, and we pride ourselves on our ability to tailor our offering to the needs of each region.
How do the North and South American iGaming industries differ? Are there any unique obstacles to overcome for a software provider?
The main differences can be found in the two cultures, and these are significant. Canada has a profile very close to the US; the most popular sports events are American football, baseball, ice hockey and basketball. These sports are incredibly popular in that part of the world, while American and European football (‘soccer’) are very much a key driver in LatAm.
In addition, the average spend of a Canadian user is much higher than that of a Brazilian user, although Canada’s population is just under 40 million, whereas Brazil has approximately 200 million residents. This means that while Brazil has volume, Canada has more to spend per average individual, which poses an interesting balance between the two.
iGaming aggregators are of increasing importance within these markets. How have they been able to work around any tricky situations?
It is quite clear that, in Canada, the toughest obstacle is the need to satisfy strict regulatory requirements. Altenar is content in the knowledge that it has done everything efficiently, but the main challenge is ensuring this is maintained and the consumer is always provided a high-quality product. You must prove to the locals there that you can provide this quality and that you can safely adhere to regulation.
In Brazil, the main obstacle at the moment is to convince anyone who is planning to operate there that it’s not just a matter of price, but that quality also matters. The operators that are looking to work in Brazil are less concerned about specific regulation and restriction factors – but this should be higher on their priority list, and we’re here to help with that.
Altenar’s products have been successful all over the world. Which products have Canada and Brazil favoured so far?
In Canada, there is a lot of focus on US sports. The American layout is important to this market – you have to offer handicap lines for US sports, locally called the “spread”. This also raises another important point – using the correct terminology. Over/under bets are “totals”, and Match Winner is “Moneyline” for example. The right look and feel has to tie into this – giving them a frontend that is applicable to their likes. Another example would be something as simple as mentioning the visiting team first in a sports fixture, with isn’t the norm outside of North America.
In contrast to those preferences, Brazil’s passion for football is well-known, and this is the main driver in the country. They hold their local league, “Serie A”, in very high regard – they love football and love to bet on their own teams. Any sportsbook supplier looking to make their mark there will need to be sure that they’re at the top of their game when it comes to localised pricing and odds.
Despite the fact that sports betting is increasingly popular in Brazil, the government has recently declined regulation there. How does this affect Altenar’s ability to work within these confinements?
Many providers are afraid of regulation, but I am of the opinion that it should be the opposite. I have a very strong belief that the moment there is regulation, Altenar will do excellent business there for the simple reason that we will be the first one to offer what is necessary.
This means that operators in Brazil will need to get an approved provider. To cut a long story short, I think the faster the regulation happens, the better it will be for Altenar. I do hope that every top provider around the world will reap the benefits that will follow regulation, if and when it arrives. At this moment, there is potential for solutions to work in Brazil that are not necessarily being fulfilled, and hopefully that will change soon enough.
In 2021, a major coup formed in the legalisation of single-game sports betting within Canada. From the perspective of betting aggregators, what positive moves did you see from this?
The moment that legalization in Canada was confirmed, I think it made sense for the proper providers and operators to stay in the market. A big part of the business done in Canada that was grey was not necessarily recorded – now that it’s official, I think that some providers have decided not to continue, and this gap will be filled by proper companies and proper providers. For us, it has had an overwhelmingly positive effect, and we’ve certainly got some very exciting plans for the Ontario market because of legalization.
What does the future hold for sports betting across the globe? Can you see any significant changes?
It is all down to the quality of the product. There are many modern ideas about functionalities: about business intelligence tools, functionality and features and of course – how to make customer retention management better. When it comes to sports betting, as long as providers manage to keep developing a quality product, they will gain more and more space in the market.
There are challenges, of course, especially considering the post-Covid world and the current situation in Eastern Europe. Labour costs have increased significantly, and this makes it challenging to find top qualified people. However, if you are a well-run company, it is possible to retain your staff and recruit new members, all while developing those modern ideas to make the product better and better.
In future, the industry’s products will be of much better quality from what they are now – it’s just a matter of available resources and how fast everyone can go!
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Frederico Caputi brings more than a decade of experience in business development, media planning and events to Brazil office
Altenar, a leading sportsbook and iGaming software provider, has grown its LatAm commercial team with the addition of new Sales Manager, Frederico Caputi.
Frederico brings more than 10 years of experience from strategic roles in sales, business development and affiliate marketing with giants such as Google and Groupon. He also holds vast iGaming and sports betting experience across a varied international landscape, equipping him to offer the deep understanding needed to win in the Brazilian market.
In this new role, Frederico will be based in Brazil and will leverage his knowledge to drive growth for Altenar by fostering relationships with sportsbook operators and partners, negotiating high-value deals and analysing the competitive LatAm landscape from within to inform business strategy.
Altenar began strengthening its leadership team earlier this year with the appointment of Sales Director Sam Hill, who currently focuses on regions including LatAm and Europe. Frederico joins Altenar’s 500-strong employee base as the company seeks to grow its foothold across the rapidly evolving LatAm region.
Charlie Williams, Commercial Director at Altenar, said: “We are delighted to welcome Fred to Altenar at this pivotal time in the industry’s history. His strategic approach and wide-ranging experience means he will bring valuable insights and leverage his contacts to build our position in this highly competitive market.
“Along with a robust and compelling product line-up, it is our people that set us apart and by building such a strong team, we are confident we can meet the needs our operators looking to break into Brazil.”
Frederico Caputi, Sales Manager at Altenar, said: “There couldn’t be a more exciting time to join Altenar, with Brazil’s regulated market inching closer to completion. The potential for Altenar to expand its presence in Brazil and offer localised solutions tailored to the unique demands of the market is immense.
“The market’s untapped potential combined with Altenar’s strong capabilities makes this an exciting time to be involved in the iGaming sector in Brazil. I look forward to working with the wider sales team to drive unprecedented growth for Q4 and beyond.”
Altenar, the leading sportsbook and iGaming software supplier, has upgraded its compelling betting tools offering with the introduction of a new Ganagol game.
The latest addition to Altenar’s software is an alternative form of sports betting which boosts engagement and brand loyalty for operators. Rather than betting on individual events, Ganagol allows players to pay an entry fee for the chance to predict the outcome of a series of events for prizes.
By using the new tool, which is also known as Toto in some parts of the world, players can predict the result of a series of football fixtures, with a clean sweep of correct outcomes winning a large prize, while a specific number of results lands them smaller rewards.
Altenar’s operator partners will also be able to choose the format of the game, including match results or correct scores, to meet their needs, as well as customising the payout structure to allow for weekly prizes or rollover jackpots.
A percentage of the entry fee can be added to the category payments, meaning the prize pot increases in line with the number of participants, adding a sense of anticipation as the potential winnings rise. To add further interest, players can also predict the range of goals scored in the same set of fixtures.
This new release serves as a significant differentiator for operators with an eye on global expansion, with the product particularly popular in LatAm.
Dinos Doxiadis, Sportsbook Product Development Manager at Altenar, said: “This is an uplift of a product that has had great adoption in LatAm.
“The new functionalities give our operators more options to increase user engagement, retention and acquisition. We believe that it is by far the most sophisticated tool of its kind across the industry.”
Mexican bettors demand localization on a different scale. An American approach to sports betting means they differ from other LatAm markets that have moved to decimal or fractional odds. As the population increasingly embraces a mobile-first approach, Altenar’s Sales Manager, Diego Salas, explores why the provider is best placed to meet the unique needs of Mexican operators in the flourishing market.
What is your view of the market at the moment and what makes it so promising?
Over the past three years, Mexican operators have experienced a significant migration from predominantly land-based, brick and mortar operations to an online-focused business model. As a result, more than 70% of sports betting revenue now comes from online customers, with internet and smartphone adoption becoming more widespread across LatAm’s second largest population. The increase in mobile penetration follows the emergence of a younger, more tech-savvy demographic with a median age of 30. They are engaging in sports betting in a more social way.
In keeping with this shift online, we entered 2024 with the release of our white-label mobile app which can be customized and places the sportsbook at its core. Approved across Apple Store and Google Play, it offers accelerated time to market, robust security and options for features such as Early Payout, Bet Builder and Player Specials. The mobile and online channels appeal to a new generation of bettors that require accessible, easy to follow sportsbook products at their fingertips. The app promises an ever-increasing number of sports and competitions with a network of official data partners delivering both quality and speed of data.
How does Mexico differ from its neighbouring markets?
Mexico is a distinct market compared to other Latin American countries and stands out due to its diverse sports culture. It is well known that soccer is the most popular sport in LatAm and at least 90% of bets still come from matches. However, in Mexico, bettors’ tastes are more diverse. Football sits among basketball, baseball, and the NFL as highly popular sports.
Unlike some of its neighbours, Mexico uses an American approach to odds, instead of the European decimal and fractional odds format. Altenar anticipated this difference by offering a flexible, localized platform to cater to specific preferences of Mexican players. Its user interface for Mexican players offers an American odds format to demonstrate provide intuitive navigation.
What will 2024 look like for Altenar in Mexico?
There can be no doubt that LatAm is a major topic of discussion in the industry. The gates are set to swing open to Brazil later in the year and Mexico itself is awaiting some regulatory updates following the legalization of online betting in 2014. As a result, Altenar acknowledges the need for boots on the ground in the continent.
We have just opened a Uruguay office to ensure we can best serve our operator partners across LatAm. We know it is important to them to access people working in the same time zone, who are integrated in their communities. The office will oversee operational aspects and instil confidence in our partners that they will have a team that is more easily accessible than other competitors.
In March and April, we will be at the IV International Gaming Convention in Mexico (12 – 14 March), SAGSE Latam in Argentina (20 – 21 March) and GAT Expo in Colombia (9 – 11 April). Our priorities at these events will be fostering our partnerships in the market and ensuring we are attuned to the regulatory developments across each country. Brazil and Chile are in the process of developing regulations and we are watching those closely, adapting accordingly. We will also be showcasing our flexible platform and features at these events, including our turnkey solution, SSBT and new tools such as Betting Insights, Bet Mentor and Bet Boost. Events are an invaluable way for us to refine our strategies moving forward and we look forward to meeting people over the next month.
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