The South African iGaming Summit (BiS) brought together a total of 16 countries in São Paulo for insightful talks, constructive discussions, and to shine a spotlight on this previously untapped sector in South Africa. This second edition of the summit aimed to foster dialogue and cooperation among international participants, shedding light on the potential opportunities that the iGaming industry holds in the South African market. With a diverse range of speakers and attendees, the event successfully highlighted the importance of this growing industry and its impact on the region's economy.
It is estimated that around 800 professionals, including speakers, exhibitors, operators, suppliers, regulators, and interested parties in general, gathered at the JK Space. Among the topics discussed, notable ones include sports betting and upcoming regulation, state lotteries, legal issues in the gaming market, and marketing and operational matters in this sector.
South-African iGaming Awards: BiS's prestigious recognition event.
During the event, as is customary in major industry events, an awards ceremony took place under the name South African iGaming Awards, featuring 14 categories. Among the highlights, the renowned game developer Pragmatic Play was honored with the "Best Game Provider" award, a remarkable achievement considering the high standards set by online slot machines featured on CasinoBarMy .
Other prominent positions included:
Category | Awarded |
---|---|
Best Payment Method | Pay4Fun |
The Best Marketing Campaign | Beta |
Best Bingo and Lottery Operator | Betsul |
Best Online Casino Operator | Pinnacle |
Sponsorships and the significance of South African bettors
A pivotal panel at BiS 2022 was the "Sponsorship Dynamics of Betting Houses in Football," which brought together key figures in the industry such as Rafael Zanette from EstrelaBet, Mateus Lemos from PixBet, and Jorge Avancini, the VP of Marketing at Internacional Club. The discussion delved into the intricate mechanisms behind the collaboration between betting companies and football clubs, shedding light on the mutually beneficial relationship between the two entities. Esteemed experts shared their insights on the role of sponsorship in fostering growth, enhancing brand visibility, and driving fan engagement. The panelists emphasized the importance of responsible gambling practices and the need for transparent partnerships that prioritize the integrity of the sport. The lively exchange of ideas provided attendees with valuable perspectives on the evolving landscape of sponsorship in the football industry and the ever-growing influence of betting houses.
One of the highlights of the discussion revolves around how clubs have been actively seeking brands that align with their values to feature on their jerseys, considering the increasing number of betting companies sponsoring football clubs. The clubs also emphasized their role in projecting a positive image of the sponsoring companies once the contract comes to an end.
However, the primary drivers of trendsetting are not betting houses and sports clubs. The "Game Providers and Operators" panel emphasized that the market needs to cater to bettors, especially given the regional variations in South Africa. Merely translating betting and casino websites is insufficient; it is crucial to grasp what bettors are truly seeking.
According to Jesus Rafael Campos, the CEO of Betconnections, South African bettors have the potential to become an international reference when it comes to how betting houses and casinos can tailor their offerings to suit their audience. With their unique preferences and tastes, South African gamblers provide valuable insights into the adaptability and customization required in this industry. Campos believes that by understanding and meeting the needs of the South African market, betting establishments can gain a competitive edge in the global gambling landscape.
A noteworthy aspect highlighted in the panel regarding the behavior of South African gamblers pertains to nostalgia. Players often revisit those classic old games, such as the Halloween slot machines, which have been adapted and can still be played today.
The regulation of gambling in South Africa
There is no doubt that the regulation of gambling and the legalization of games of chance were among the key topics at BiS 2022. According to Vibra Gaming CEO Ramiro Atucha, South Africans who want to place bets will do so. If these individuals find ways to gamble, it is beneficial for the country that the activity is regulated, which also provides protection for bettors.
During the panel discussing the international experience in relation to integrated resorts with casinos, it became evident the significance of exploring this form of entertainment in South Africa. One of the most emphasized points during the talk was the creation of hundreds of thousands of jobs.
Concerning the fears surrounding the legalization of gambling in South Africa, the discussion revolved around the potential use of technology to enable effective oversight and monitoring of operators, ensuring player safety. According to Iuri Castro, the Undersecretary for Competition and Competitiveness Advocacy at the Ministry of Economy, the primary focus lies in regulating sports betting. Nevertheless, the expertise gained from this significant step can also be utilized in the implementation of the gambling bill.
Paulo Saad, the President of Bandeirantes Group of Communication, emphasized the extent to which South Africa is lagging behind other major economies. Undoubtedly, the BiS 2022 left a significant impact on those who attended the event. The event had a profound effect on the attendees, leaving a lasting impression on their minds. Paulo Saad, as the head of Bandeirantes Group of Communication, shed light on the stark reality of South Africa's position in comparison to other thriving economies. The BiS 2022 event served as a wake-up call, reminding everyone of the urgent need for progress and development in the country. Its influence reverberated among participants, sparking a collective determination to bridge the gap and forge ahead.
Visit our news page for more articles on the regulation of gambling in South Africa.
Cryptocurrencies are the next big leap.
It is becoming increasingly common to come across Bitcoin-accepting casinos, as well as other popular cryptocurrencies like ETH, BCH, and LTC. There are even platforms entirely dedicated to crypto payments, such as Stake, which offers a 100% exclusive experience.
Despite the recent declines in cryptocurrency values in the market, the panel "Financial Alternatives for the iGaming Industry: Crypto, e-wallets, NFTs, Tokens, etc." showcased high expectations for this payment method. Among the highlights, discussions revolved around the growing adoption of Bitcoin, which has surpassed PayPal, a wallet that has already integrated the cryptocurrency into its system, and the numerous advantages of cryptocurrencies were extensively debated during the panel.
For comparative purposes, the transaction costs associated with Pix are more than 700 times higher than those using blockchain technology for casinos and betting houses. This is in addition to the already known advantages such as fast transfers, security, and privacy. Therefore, it is estimated that 2023 will be the pivotal year for the widespread adoption of cryptocurrencies in the realm of gambling.
With so many critical aspects at play, we can be certain that the second edition of BiS marked a pivotal moment for the industry in South Africa. We continue to closely monitor its impact and look forward to upcoming promising events.
For more information, visit BIS. Photo credit: Games Magazine South Africa.