Once again SIGMA EUROPE has proven itself to be an amazing chance to meet old friends and potential partners in the wonderful Maltese islands.
3 minutes – read
The second edition of SIGMA after the COVID outbreak returned with a bang. This time the entire MFCC was dedicated to the exhibition, resulting in both the number of exhibitors and visitors to increase in a significant way, if not even double.
Sigma Europe 2022: towards new markets!
Thanks to this boost, the 1Stop Translations team was able to meet hundreds of people from all over the world, cultivating relationships with existing customers and establishing new connections. It was interesting being able to speak with them, to evaluate all the possibilities of partnership, to talk about upcoming projects, and to highlight the value that 1ST can provide by guiding iGaming, Fintech and Esports businesses towards new aims and targets. Once again, human contact was proved to be irreplaceable, adding that extra touch and sense of closeness that is missing when compared to the everyday communication via email or video calls. The feeling of meeting people we recognized from LinkedIn and simply seeing names of people in the field we know but never met in person was one of the highlights of the conference and something not achievable online. Our journey towards new markets was off to a great beginning, starting with the graphics of our stand and our spectacular advertising campaign courtesy of iNTERGAMINGi.
The leitmotiv that 1ST wanted to follow during the exhibition was the journey towards new horizons, represented not only by emerging markets (Asia, Africa, LatAm), but by all those markets that embody a new point of expansion for all those companies that have decided to internationalize and broaden their business. Said internationalization process takes place primarily through Localization, mixed to the implementation of Marketing Services such as SEO Outreach, Influencer Marketing, SMM and so on. During the various meetings, we had the pleasure of being able to explain how, thanks to our expertise and integration of services – extending from multilingual content management to the implementation of digital and international marketing services – we help companies in the iGaming, Fintech, and Esports sectors to expand their horizons and reach new markets. Furthermore, as we all know, SiGMA is not just business; the joy, the people, the drinks, the music, and the whole atmosphere is what the event really stands for.
Walking around the floor in between meetings and talking with new people who were enthusiastic about their inventive and imaginative products or services was intriguing. By doing so, we could interact with others and discover answers that we might otherwise have overlooked. Attendants were not only part of big companies but also start-ups with great ideas and potential, so this kind of networking is ideal for widening our horizons regarding perspectives for business.
1Stop Translations interviewed by SiGMA TV
Having said that, we are looking forward to 2023 and all the surprises we are sure SiGMA will have in store for us.
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African markets have attracted a growing number of iGaming investors in recent years, since Africa has both short-term and long-term potential, and the market is still far from being completely saturated.
5 minutes – read
This increasing interest was due to the continent’s consistent economic growth and the rising accessibility to mobile devices. The local government’s willingness to work on establishing a controlled legal environment for the internet gambling business, which also assisted them in generating new local revenue streams, also aided the continent’s position.
Light up new horizons
Regulations overview
The rapid expansion of the African iGaming business could not have happened without regulatory support in addition to technological developments. According to their level of gambling regulation, African nations can be categorized into three main groups:
Countries with market regulations
Countries with no market regulations
Countries where gambling is prohibited in all forms
Countries belonging to the first category benefited from large investments in the iGaming sector. As a result, tax revenue has increased, and those money can now be used to invest in other industries. The first country to legalize gambling was South Africa, and thanks to its successful implementation, other nations have followed suit. Consequently, iGaming flourished in Uganda, Kenya, Tanzania, Ghana, and Nigeria. These nations have increased revenue through gambling taxes by preventing offshore corporations from profiting fully from online casino activity.
The big three
LIGHT UP NEW HORIZONS – AFRICAN MARKETS – 1Stop Translations
Even though the sector is expanding across the whole continent, three nations stand out as Africa’s top gambling markets in 2022: South Africa, Nigeria, and Kenya.
Nigeria
In 2021, Nigeria had the biggest GDP in Africa, equal to $441 billion USD. Moreover, the population of the nation is the highest on the continent. In Nigeria, gambling was made legal in 2004, and the first online casino opened its doors in 2013. The National Lottery Regulatory Commission issues licenses to both online and offline gambling businesses and the popularity of sports betting, particularly on European football, has increased as a result of the proliferation of mobile connections and payment methods. Furthermore, over 30% of Nigerians between the ages of 18 and 40 gamble on a daily basis. However, games like poker, roulette, and dice games, are still prohibited in Nigeria.
South Africa
South Africa ranked second in 2021 with a GDP of US$420 billion. Business endeavors, including iGaming, find the nation to be particularly alluring due to the size and stability of its economy. Online lotteries, live dealer games, and sports betting are all quite popular in the area, but online casinos are not allowed, unless they are opened by legally recognized land-based bookmakers. Therefore, without many domestic options for online casino games, users frequently use offshore platforms. The bulk of sports bettors in South Africa, who make up about 50% of the adult population, wager at least once every month. In this regard, investors can consider this market to be an excellent choice for the creation of an online sportsbook.
Kenya
Most forms of gambling are legal in Kenya, and hundreds of brand-new online casinos have popped up recently. The nation is a pioneer in the development of interactive games, and millions of Kenyans frequently visit online casinos. The scenario in Kenya’s gaming market is comparable to that in Nigeria, but because it has a smaller population (47 million), it is not growing as quickly. Kenyans love to gamble on sports, especially football. However, due to recent legislative changes, some major international firms have left the market, potentially creating a sizable void that has to be filled.
Growth opportunities
The increasing number of young people on the continent is important when it comes to online gaming and generally enhancing the user experience on mobile devices. Mostly, iGaming players in Africa are between the ages of 18 and 35, making it the only place in the world where younger people make up a bigger percentage of the general population on an annual basis. Uncoordinated regional bureaucracy makes it more difficult for the iGaming sector to thrive in Africa. Nevertheless, it is a modest price to pay given the favorable changes in legislation, the size of the markets, and the cultural acceptability of betting and gaming. Overall, the youth of the continent love to gamble and have broad access to the internet, which suggests that Africa has a lot to offer.
Payment methods
In Africa, mobile payments are by far the most popular type of payment. Many players simply do not have the choice to keep an account with a conventional financial institution; in other circumstances, some banks will not execute transactions involving gambling. Mobile is the answer, just like it is for internet connectivity. For example, Kenyans who don’t have access to bank accounts now have economic independence thanks to Vodafone’s M-Pesa service, which enables users to make payments using their mobile contracts. All the nations of East Africa, including Tanzania and Uganda, are familiar with the solution. The three most used payment processors are MTN, Airtel Tigo, and Vodafone. To now more about NFT read our article
The importance of localization
Africa is huge, with a wide variety of cultures, languages, financial requirements, and betting preferences and customs. Therefore, for those operators aiming to flourish in this diversified and dynamic industry, they have to include all these elements in their planning. In particular, if we consider the linguistic aspect, it is important to remember that Africa has more than 1000 languages, but the most spoken ones – besides English – are Swahili, Ahmaric, Yoruba, Oromo, Hausa, Zulu, Shona, Arabic, French and Portuguese. Therefore, being able to offer as many languages as possible, or at least the most commonly used ones, is of utmost importance in order to allow more people to enjoy the iGaming experience at the fullest. Not all companies can accommodate such request, thus working with a provider specialized in this market is almost mandatory; a lot of experience is required to manage and choose the right language to implement in order to firmly establish your presence.
Conclusion
Following Kenya, Nigeria, and South Africa’s footsteps, several African nations are attempting to enact gambling-related frameworks and laws. Governments throughout the continent are drawn to the potential of the favorable effects of investment and the financial gains to those that proactively embrace gaming legislation. The rise in the number of young people, the popularity of sports betting among millions of people, the availability of cheap mobile phones, and the rollout of 4G and 5G networks could all accelerate the future change of the African gambling industry. And you, what are you waiting for?
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Numerous dynamic nations, some of which hold exceptional prominence in the iGaming industry, may be found throughout Latin America. There will always be opportunities for businesses to succeed in markets like Brazil and Mexico even just considering their size and number of potential players.
5 minutes – read
In the meantime, favorable competitive situations can be found in countries like Argentina, Chile, Colombia, and Peru. Of course, there are less developed countries, but even these could eventually prove to be very promising. This largely depends on the regulatory environment and economic stability of the nation; if these two elements come together at the right time with the appropriate telecommunication and payment processing options, nations like Venezuela, Ecuador, and Uruguay would present formidable potential to both operators and suppliers.
Despite this, only Colombia and, more recently, Argentina and Brazil have made progress when it comes to regulation. Alternate payment methods and social acceptance of internet commerce have been the biggest advances. Additionally, the Covid problem appears to have sped up the shift to online gaming and served as a signal for nations to swiftly enact iGaming regulation.
Light up new horizons
Regulations overview
Some nations have outlawed gambling due to its complicated regulatory position, while others have only deregulated it. In the meanwhile, province-by-province regulation is the norm in places like Argentina. As a result, the landscape must be examined case by case, country by country, and partner by partner in order to target the finest chances. Essentially, quality rather than quantity ought to be the main priority. Making the ideal local alliance and maximizing the current company’s offering can be more profitable or ROI-effective by carefully analyzing the available possibilities and comprehending the long-term nature of business.
Growth opportunities
Despite the long delay between the regulation of the Colombian iGaming market in 2016 and other nations, LatAm is still a particularly attractive region for the gaming industry due to the sheer scale of the potential market – there are more than 200 million people living in Brazil alone. According to the GSMA, smartphone adoption will reach 73% across the region by 2025, while the World Bank projects that internet use will exceed 80% in Latin America and the Caribbean in the next few years. Additionally, there will be a wider variety of legal gaming alternatives available through this connected penetration. While positive advances have been achieved in Brazil across numerous channels and verticals, online betting and gaming are currently being legalized in Chile, Uruguay, and Peru.
Latam markets, a new horizon to explore
Payment methods
Statistics on banking and payments in Latin America vary significantly from country to country and region to region. For instance, compared to people who live in the south of Brazil, the majority of individuals in the north do not have access to financial services like bank accounts, debit cards, or even credit cards. Latin America does not have as much access to the market as other nations like the US or Europe, consequently local financial institutions, payment networks, and fintech firms are more well-liked than those based elsewhere.
Even though there are still many people without bank accounts and cash transactions still predominate in the area, consumers are growing more at ease utilizing digital wallets and contactless mobile payments. By adapting and innovating, several Latin American nations have created alternative payment systems for their citizens without access to financial institutions. As a result, to improve the inherent financial inclusion of this region, fintech, banks, and even governments are rapidly embracing digital payments.
It is crucial to understand local bettors’ payment preferences and provide alternatives that people are accustomed to in their native nation and will find to be the most advantageous given their current situation; doing so enhances their betting experience and builds trust.
Latin America is one of the most diverse regions in the globe with 20 nations and 13 dependencies. The majority of these nations speak Spanish and Portuguese, but there is also greater variation when taking into account that there are English-and Dutch-speaking parts. Before approaching these particular regions, these key considerations ought to be considered while customizing a project.
However, languages are only one component of localization; sports, leagues, and betting preferences of the locals are also important elements. Given that Latin Americans are among the most ardent football supporters in the world, it should come as no surprise that football is the dominating sport in this region, subject of more than 67% of their wagers.
Content localization is therefore crucial when it comes to sports enthusiasts; LATAM bettors follow more than just the major football leagues, therefore operators must also cover the native football leagues and teams in each of the countries in Latin America.
The betting experience is another significant factor. Each nation in Latin America has its own unique gaming culture. For instance, European players bet differently than those from Latin America. Operators can anticipate lesser wagers placed more frequently; for slot machines, this will mean more spins throughout a session. The involvement of gamers can be raised by various bonus types, cross-sales, and other marketing strategies. Additionally, the region is quite open to adding new features.
The enormous importance of localization – 1ST Blog
Conclusion
The iGaming sector sees great promise in Latin America. Countries with imminent favorable legislation are anticipating extraordinary levels of growth in the near future whereas markets that have already made the decision to regulate online casinos and sportsbooks are witnessing stable expansion in the sector.
In the next five years, it would be in Latin America’s best interest to have regulations in the majority of its countries. As of now, players are not protected, and these nations’ economies are not benefiting from the tax advantages that laws would offer because either semi-regulated or uncontrolled markets are still operating with little to no control. Once a strong regulatory base has been established, we can actually begin looking into the possibilities that this dynamic continent has to offer.
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Although Asia is undoubtedly not a continent that encourages gambling, dismissing it would be a mistake.
6 minutes -read
Although Asia is undoubtedly not a continent that encourages gambling, dismissing it would be a mistake. In many countries, opinions have changed noticeably in response to the growing awareness of player safety measures and the potential worth of the sector in terms of state income, making legalization possible where it had previously been unthinkable.
The iGaming sector too has had a rapid expansion due to millions of people turning to online entertainment as a result of the pandemic outbreak and restrictions on socializing, leisure activities, and access to land-based casinos. According to the data provided by e-Conomy, in 2020 40 million people in Singapore, Malaysia, Vietnam, Indonesia, the Philippines, and Thailand placed their first online bets or gambled.
Light up new horizons
Regulations overview
Operators are drawn to Asian markets by their enormous potential, yet it is still difficult to enter the sector. Most countries have strict laws governing gambling and betting, and only a small number of businesses are legitimately authorized to operate. Nevertheless, the tendency appears to be toward a gradual legalization.
This is mainly due to the fact that black markets operated by gambling syndicates (which provide neither player safety nor transparency) have grown in many nations where gaming has long been outlawed. Therefore, some countries are altering their policies in an effort to counter this phenomenon – and monetize on the residents’ newly discovered entertainment preferences – by gradually allowing gambling.
Asian markets, a new horizon to explore
Growth opportunities
In 2021, it was estimated that the worth of the online gambling market was around USD 57.54 million and that it would increase at a CAGR of 11.7% from 2022 to 2030. The industry is being driven by rising smartphone usage for online gaming both at home and in public, as well as rising internet penetration rates. Additionally, elements including cultural and legal acceptance, ease of access to online gambling, endorsements, and sponsorships are encouraging business growth. Thus, the market is anticipated to expand even more as a result of the accessible and reasonably priced mobile applications.
Blockchain’s contribution
Play-to-earn models that are integrated with NFTs are receiving a lot of attention, since they offer full ownership and let players generate money from the time they spend playing the game. For instance, the Asia-Pacific region particularly enjoys the NFT game Axie-Infinity, with between 40 and 50 percent of users coming from the Philippines. With the Play-To-Earn technique online gamers may develop, breed, and create more while earning extra passive revenue. Consequently, the persistent desire to expand economies instantly becomes embedded in society. This encourages a solid and resolute relationship. In particular, India has a high population of phone users and gamers, hence the growth of blockchain-based gaming may outpace the economic growth of the country.
Operators must assist the Asian markets by providing a wide variety of payment options in order to give comprehensive regional convenience and experience. Generally, Asian players prefer eWallets over bank transfers, credit and debit cards, and other payment options. Additionally, there is Thaipay, which is available to gamers from Thailand, and 2C2P, the largest payment system in Asia, which takes payments from users even without credit cards.
International marketing
A strong marketing strategy is necessary when expanding into new areas. To draw in and keep participation, advertising must be properly localized as well as relevant and sensitive to cultural differences. For a marketing strategy to be as efficient as possible, SEO outreach and link building are some of the best services to be carried out. As a matter of fact, through local connections and affiliate networking, it is possible to reach gamers in any desired region and enhance traffic, as well as to improve advertising results. It is not a coincidence that using affiliate networks with contacts in the region is what has helped the Asian market grow.
The importance of localization
Success in Asia requires a segmented approach that takes into account the political and cultural preferences of each nation. Hence, knowing your players and providing them with material that is specific to their region is a terrific way to draw them to your website.
When talking about efficient localization, multiple variables are taken into account, such as preferred content and suppliers, languages, sports, leagues, offering views, and odds formats. Taking cultures as an example, Mahjong is well-known in China whereas Pachinko is more prevalent in Japan. In general, the most widespread games among gamblers are live casino games with local live dealers, baccarat, roulette, sic-bo, slot machines, lotteries, and skill-based games with very popular activities such as hunting and fishing.
Another example is related to India, where cricket is the most popular game for sports betting, so it is important to provide wagers on local games for bettors who wish to bet on lower-tier leagues as well as the World Championships in order to satisfy individual demand. Some of the other prominent sports in the area are Basketball, UFC, badminton, Muay Thai, and football.
Language is another element that is crucial to the success of localization. Major linguistic distinctions exist across several nations and geographic areas. Operators must provide versions of their websites in the languages that players prefer in order to satisfy local requests. To do so, it is of utmost importance to collaborate with translation companies highly specialized in the iGaming sector that cover all the languages needed to enter these markets.
The enormous importance of localization – 1ST Blog
Conclusion
Until the Asian gaming market is stable and regulated, operators wanting to enter the market must be aware that there will be periods of low revenues as well as periods of high turnover. Moreover, once regulations are loosened, governments should be aware that Asia is likely to become the next major market for internet gambling.
So far, the legalization of sports betting and online casinos has been made possible by the decriminalization of casino gambling in numerous Asian countries. According to current trends, live dealers, table games, and slots are expected to rule the gambling sector in Asia. Currently, the only options available to residents are gambling in brick-and-mortar casinos, going to countries that permit online gambling, or using offshore platforms to access online casinos.
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Light up new horizons
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