Cartagena, Colombia – Ahead of its participation in GAT Expo 2025, to be held in Cartagena, Colombia from April 28th to 30th, Altenar, a leading global sportsbook provider, has released an in-depth analysis of the key characteristics of the Colombian online gambling market and how its products and services can contribute to the success of local operators. Amidst the recent emergence of Brazil's regulated market as a major topic in the Latin American gambling industry, Altenar emphasizes that Colombia is also a significant market with high growth potential, underscoring the importance of a locally tailored strategy.
Altenar states that its extensive experience and expertise accumulated through collaborations with operators across Latin America enable it to provide crucial insights that differentiate success from failure for businesses considering entering and growing in the Colombian market.
Solid Growth and Stable Regulatory Environment
According to the National Administrative Department of Statistics (DANE) of Colombia, online gambling made a significant contribution to Colombia's Gross Domestic Product (GDP) growth in 2024. Sports betting, in particular, showed remarkable growth, accounting for 47% of the total Gross Gaming Revenue (GGR) in the second quarter. Colombia pioneered online gambling legalization in South America in 2016, establishing a proactive regulatory environment. The government secures revenue from the iGaming industry for public purposes, such as funding medical support, and actively supports the market's growth potential. Despite some recent challenges due to the introduction of an emergency Value Added Tax (VAT), Colombia has laid the groundwork for licensed operators to grow stably through a clear and concise regulatory system.
Fervent Passion for Sports
While Brazilians' love for sports is well-known, the passion of Colombians for sports should not be overlooked. The Colombian national football team's advancement to the 2024 Copa América final was a major factor in the GGR increase for that year, and high interest in both domestic and international football leagues persists. Notably, the popularity of American sports is steadily increasing among the younger generation.
Altenar's Tailored Solutions for the Colombian Market
Altenar highlights the following key reasons why operators should choose them as their sportsbook provider in the Colombian market:
Powerful Promotional Tools: Altenar offers a variety of promotional tools designed for the Colombian market, where football is the dominant sport, to acquire new customers and retain existing ones. Features such as 'Early Payout' and 'Bore Draw' provide differentiated value in a competitive market, while various functionalities like 'Bet Builder' and 'In-Play Betting' enhance the user experience. Additionally, operators can leverage Altenar's Trading Manager tools to offer the best odds in the markets most important to local players.
Comprehensive Content: Altenar's sportsbook provides a wide range of content to meet the needs of all players. In-depth coverage of major American sports includes player statistics and Same-Game Parlay options, and the rapidly growing esports and virtual sports betting markets are supported through partnerships with leading providers. The use of official data feeds ensures diverse betting options for a wide range of events and competitions, and customizable front-end solutions allow operators to optimize their sites according to their brand preferences.
Dedicated Support: Trading and support teams specializing in the Latin American market provide the best service to operators by using the same language and being located in similar time zones. Furthermore, experienced account managers support the optimization of business strategies based on their accumulated industry experience.
Frederico Caputo, Altenar's Sales Manager for Latin America, who will be attending GAT Expo, emphasized, "Beyond a robust sportsbook platform, what we offer is a deep understanding of the local market and tailored support. Our team speaks the local language, accurately grasps the dynamics of the regional market, and works closely with each partner to establish and optimize strategies that fit each market. Colombia is a mature and well-regulated market, and we will support operators in making the most of this environment."
Through its participation in GAT Expo, Altenar aims to highlight the potential of the Colombian market, expand partnerships with local operators, and strengthen cooperation for successful market entry and growth.
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