GR8 Tech brought home the ‘BEST WORKPLACE 2024’ award at the BIS SiGMA Americas Awards recently held in São Paulo, Brazil.  According to the company, it was able to hold over 150 meetings with operators and other stakeholders. The company said these interactions have laid a solid foundation for GR8 Tech’s strategic expansion in the region and provided the team with significant insights into the evolving Latin American iGaming market. 

A closer look at the Brazilian market and wider LatAm  

“Brazil is not synonymous with Latin America. Each country on the continent has its own unique characteristics,” Evgen Belousov, GR8 Tech CEO, said.   Belusov elaborated that the most important thing to understand in the LatAm region is that it’s very diverse. There are significant cultural and operational differences that necessitate a localized approach such as, “Brazil’s rhythm is distinct; life starts in the afternoon, and business interactions reflect this laid-back pace. To thrive here, understanding and integrating into the local lifestyle is essential.”  Belousov further discussed the Brazilian market’s competitive nature, highlighting retention strategies’ crucial role. “The churn rate is high as players frequently shift between operators lured by aggressive marketing. Hence, having robust retention mechanisms, such as real-time tools and enticing bonus mechanics, is crucial to maintaining a loyal customer base,” he added.  For Yevhen Krazhan, Chief Business Development Officer of GR8 Tech, addressing compliance and market preferences is crucial. “Regulation is a hot topic, with a keen focus on product compliance. Moreover, while classic sportsbooks saturate the market, emerging interests lie in areas like fantasy sports and social gaming, which present new opportunities for differentiation and growth,” Krazhan said.  Meanwhile, Thomas Carvalhaes, Senior Business Development Manager for the Latin America region, provided his expertise during the panel discussion “Understanding the demands and evolution of the B2B market”, highlighting the demand for localisation and intuitive technology. “In Latin America, where many markets are still learning the ropes of iGaming, the simplicity of the technology is key. Products need to be user-friendly to ensure they meet the expectations of a clientele that values straightforward and engaging gaming experiences,” Carvalhaes explained. 

Future directions and engagements 

Building on the insights and achievements from BIS SiGMA Americas, GR8 Tech is actively expanding its presence in Brazil and LatAm, establishing its reputation as a key player in the region. The company is also exploring opportunities in other global markets, with Asia as the next target at SiGMA Asia, scheduled for June 2-5 in Manila, Philippines.   GR8 Tech said that this upcoming event presents another opportunity for the company to demonstrate the capabilities of its flagship GR8 Sportsbook platform and forge new partnerships in another diverse region.  For GR8 Tech updates, check //gr8.tech/. 

Upcoming SiGMA event: SiGMA Asia 2024, 2 – 5 June. Find all the details here.