A new partnership between Pragmatic Play and online casino Locosbet
Online casino software developer Pragmatic Play announced a new partnership with the new online casino Locosbet in a press release yesterday (Tuesday). As part of the partnership, Pragmatic Play will bring its slots collection as well as live dealer games and virtual sports games to the Latin American market, the statement said.
With the new collaboration, Pragmatic Play continues to expand its presence in Latin American countries such as Brazil and Colombia. By the way, the company's slots are part of Top-5 Slots to Begin
Expansion in the Latin American market
Both Pragmatic Play and Locosbet noted in a press release that they are targeting expansion in Latin America.
Carlos Galvez of Locosbet said: We are at the beginning of a very exciting journey, and we can't wait to get started!
By this, he meant the fact that the Locosbet website has not yet launched.
However, at the SBC Awards Latinoamerica 2021, it was revealed that the bookmaker Locosbet will be launched on the Quantum platform from iGaming software provider Sportingtech.
What are virtual sports games?
It is a simulation of a sporting event, such as a horse race, motorcycle race, or soccer match, for example, using only a random number generator. Players can then place sports bets on the outcome. The disadvantage compared to real sports betting is that the outcome is actually purely random.
The advantage for players is that the game or race starts every few minutes. Thus, impatient people don't have to wait for a live sporting event to start.
A challenging situation and great potential in Latin America
As iGB recently reported, Latin America is an emerging gambling market, with laws that vary greatly from country to country.
There is a millennial tradition of gambling here, dating back to Aztec times with the game of patolli. However, gambling laws vary widely in some cases, sometimes even from city to city.
As regulation has increased, he said, the Hispanic market has shown promise in a number of countries. Colombia, for example, regulated gambling in 2016/2017 and was able to generate $5.03 billion in turnover in 2020.
Accordingly, it remains to be seen how successful Pragmatic Play will start its collaboration in Latin America together with Locosbet.