Altenar
One year on: Showcasing Altenar’s Ontario success
Twelve months ago, Altenar made a name for itself as one of the first major European sportsbook providers to go live in Canada’s nascent regulated province of Ontario.
With the market now in its second year of being regulated, we spoke to Altenar’s Head of Sales, Antonino Barra, to hear more about the success Altenar’s market-leading technology has brought to Ontario, as well as the award-winning provider’s expectations for the year ahead.
It is almost a year since Altenar entered Ontario. How have you settled into the region and how has the product been received?
We’ve been live in the region with a big-name operator since the early days of the market being regulated back in early 2022. Overall, business has been fantastic – we can see how much demand there is for sports betting in Ontario thanks to the influx of very successful teams across a wide range of sports, including the Canadian Football League.
When we went live in the market back in April 2022, we envisaged a bright start for us, and it has presented a significant opportunity to develop and implement our bespoke trading and pricing models for Canada’s most popular sports. Without a doubt, we have one of the best trading teams in the industry and we’ve got some fantastic case studies to back it up. All in all, it’s been an excellent first year and our products have been incredibly well received.
What is attractive about the region from a sportsbook point of view?
Ontario loves sport, so it has been a great experience for us so far. Teams such as the Toronto Blue Jays, Toronto Raptors and the Ottawa Senators are all well supported, and this is evidenced in the extensive popularity we’re seeing when it comes to sports betting on some of Canada’s best-loved sports.
According to iGaming Ontario’s first year’s performance report, Basketball was the most popular sport to bet on, accounting for 29% of all wagers, followed by soccer (15%), football (13%), hockey (9%), and baseball (8%). Sports categories include bets on a variety of athletic activities, including but not limited to professional leagues. Having such a diverse range of sports has proven to be a fantastic challenge for our trading teams and we’ve really enjoyed becoming localised experts on North American sports!
Did you set any targets for your first year in Ontario and did you achieve them?
Being able to provide a full solution to players in Ontario, with one of the most comprehensive sports betting propositions available, was also another OKR we put a lot of effort into achieving. A crucial differentiator was to provide a bespoke provision of ad hoc services that could be tailored to exactly what Canadian players have been looking for. So far, it has been great to see all of these vital targets reached and we look forward to surpassing them.
What advantages does Canada offer as opposed to LatAm or the US?
When we compare Ontario to the LatAm region, we must understand that the market is less granular. The legal framework allows space to offer different business plans and enables us to have been one of Ontario’s true pioneers.
In LatAm, it is easy to be overpowered by certain operators who hold too much sway, given some jurisdictions have big name operators holding up to 75% of market share. The retail vs. online split is also hugely different, in that Canada is hugely online-first, while in LatAm – retail will always be the flagship brand.
Looking at comparisons with the US, the cost can be hugely prohibitive in comparison as you have to go through the licensing process for each new US state. As a result, the bureaucratic hurdles involved in making that happen require a vast provision of resources, as well as the risks involved in the land-based lobby slowing down any launch process.
On the other hand, when examining the situation in Ontario, it becomes apparent that the regulatory framework is remarkably flexible, offering a highly convenient platform for sportsbooks venturing into the North American market for the first time. This aspect serves as a significant incentive for numerous European brands to establish their presence in North America prior to expanding further south. The market’s favourable reputation stems from its commendable ability to provide tailored conditions that are exceptionally conducive to growth.
How does the next 12 months look? Do you expect to branch into other provinces as they come online?
Absolutely. As it stands, Ontario is the only province that currently offers a licence and is open for entrants, but we will look to target all provinces as they slowly come online. The next couple I expect to follow suit are Alberta and British Columbia, and we’ll be first in the queue for those. The current status regarding lotteries is that they have a monopolistic hold over these provinces, just like we’ve seen with land-based and tribal influence in the US. Of course, Canadian lotteries have a vested interest in seeing themselves hold onto the market so this will be an interesting development to keep an eye on.
For 2023 to 2024, we’ll be focused on solid growth and helping new operators develop and grow their operations to become verifiable contenders.
Finally, given the economic outlook over in Europe – and indeed, the likely contractions faced, there’s plenty of fortune awaiting on the western side of the Atlantic, so we’d certainly encourage brands looking for a better outlook to set foot in here – it’s a place to be watched with interest.
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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