Spinola Gaming envisions the LatAm market to grow exponentially over the next 3-5 years, with studies suggesting that once Brazil has become a regulated market, it should occupy third place in the global industry. Given regulators in Brazil removing the country-wide lottery monopoly, and the expectation of the regulations for Law No. 13,756/2018 (which legalized fixed odds sports betting as a form of lottery) being in the imminence of being released mid 2021, Brazil is expected to become a huge contender in the iGaming race in LatAm. Also, the draft decree depicted the “concession” (and no longer the “authorization”) as the business model to be adopted by the Federal Government, giving Brazilian states authorisation to exploit their own lotteries, provided that these lotteries become legislated at federal level. 

The LatAm team at Spinola Gaming had anticipated this movement in Brazil, and discussed this with the product department. The sales team quickly took action, and with the recent launch of a LatAm focused Spinola Gaming product suite at the end of 2020, this moved from discussions to partnership status relatively quickly. Manuel Santos, Business Development Manager, focusing on efforts in LatAm says that, “Brazil continues to be one country that has great, but unrealized potential in multiple sectors, one being online gambling. In comparison, Colombia’s state lotteries has grown to become the main player in LatAm gaming, with 15 different regional lotteries in operation currently, but Brazil has the potential to top Colombia and gain the status of Latin America’s most powerful country when it comes to online gambling. Our new partnerships with Brazilian lottery operators gives our company the right roots to grow with Brazil as it reaches the next stage in the market.”

Back in 2020, Spinola Gaming had already started developing foundations in continents like LatAm and Asia.