In less than a week, the industry will meet again at the Seminole Hard Rock Hotel & Casino, in Hollywood, Florida, for SBC Summit Latin America 2024 .
Latin America’s premier online gaming and sports betting event will bring together key decision-makers and industry experts to share knowledge and establish new partnerships
Andrés Tamayo , Manager of FullReto , will be at the conference as part of the panel “Restricted access: strengthening regulation against illegal online betting sites”, moderated by Tatiana Vázquez , Managing Partner of V&I Consultores Legales. He will be accompanied by Dr. Evert Montero Cárdenas , President of Fecoljuegos, Dr. Agustín Li Gambi , General Director of IJAN, Lourdes Britto , General Director of Apuesta Total, and Ezequiel Domínguez , Director of Lotteries of the Lottery of the City of Buenos Aires (LOTBA).
A few days before the event, Tamayo analyzed some concepts in an exclusive conversation with SBC Noticias.
SBC Summit LatAm Spotlight: Andrés Tamayo, FullReto
SBC News: The Colombian online gaming market is one of the most mature and a benchmark for the rest of LatAm. Having been there practically from the beginning, what lessons have you learned regarding the development of the market? What analysis do you make of the current state of the industry in Colombia?
Andrés Tamayo: The main learning has to do with the market itself. Something very important about the markets in LatAm is that each one has a different behavior and motivations, despite almost all speaking the same language. So adapting the platform, marketing, strategies and administration itself is almost unique for each market and this is essential to understand in order to achieve success. As for the Colombian market, I believe that, despite being the most mature, it continues to grow constantly. The pandemic accelerated everything, but the market is still growing, new people are beginning to understand the great entertainment possibilities that we offer and that we are available 24/7.
SBC News: What are the biggest challenges facing Colombian online gaming operators today?
AT: The biggest challenges come from innovation, because in the end all platforms offer the same thing: sportsbook, online casino, live casino, poker, bingo, etc. But in the end, what makes us different? We are left with service, agility, new trends, interesting promotions. Maintaining a platform at the forefront of innovation and marketing is the biggest challenge for us.
SBC News: If the initiative to tax digital platforms goes ahead, what consequences would it have for the online gaming and betting market in Colombia?
AT: The consequences are very serious, since this type of tax is incompatible with our online betting sector; that is why when they applied the first law with VAT, no operator came forward, precisely because it was unviable. In addition, we are the only type of game in Colombia that pays a fixed annual rate in advance of 811 minimum wages, with the difference that this is collected for health and not directly to the state like VAT.
SBC News: Advertising in the industry is a central issue on the agenda of many countries in the region. Do you think it could become a source of conflict in Colombia as well? Is there room for improvement in this regard, both from the regulatory and the operators’ perspective?
AT: In Colombia, at the end of 2023, a regulation was issued that limits, in a fixed and variable manner, the investment in advertising that puts limits on all operators, both old and new in the market. It regulates the total annual amount, based on minimum wages, what type of advertising can be done and under what terms. This regulation as such can be greatly improved with a working table with the government, since shortly before this regulation was issued, from the union, we were already working on a self-regulation in advertising, so we were already on the way to setting some basic rules.
SBC News: Are there any initiatives to expand the reach of FullReto beyond Colombia?
AT: Not in the short term, but we do have that vision of it happening at some point this decade.
SBC News: What growth opportunities does attending an event like SBC Summit Latin America 2024 offer the company?
AT: This event is the real event for online operators. At other events there is always a greater focus on localized casinos and games, so at FullReto we always look forward to attending SBC events.
SBC News: What can we expect from the company?
AT: We are on our way to becoming the House of Poker in Colombia. We are creating the FullReto Poker Team, which goes with FullReto sponsorship to different face-to-face poker events at national and international level.
Source: SBC Noticias
