Codere Online: "There is a strong appetite for sports betting in Latin America"

The main specialists in the iGaming and betting sector agree that one of the markets with the greatest future projection is Latin America. This has led the main players in the industry to think of strategies that differentiate them from the competition.

Codere Online is undoubtedly one of the leading companies in the sector and one that has focused more on the region. Yogonet spoke to Salo Leder, Regional Director of the operator in Latin America, about the company's future steps in the market.

First of all, what particular strategy does Codere Online have for Latin America? What differences do you find between this region and the rest of the world?

Apart from our domestic market in Spain, all of our online business is conducted through regulated countries in Latin America. Our strategy has been to remain loyal to our customers, many of whom we have acquired through our retail presence, and to offer them a fun and fair gaming experience. To do this, we have tried to push the boundaries of innovation and take a unique approach to each country.

In Latin America, there is a strong appetite for sports betting, and soccer is proving to be the most popular. There is also a growing interest in online casinos and, particularly, in crash games. Overall, these are emerging and healthy gaming markets, and there is significant demand for a wide range of content, so it is important to offer a wide variety of products.

Within the region, what do you consider to be the main markets? Are they taken as a whole or does the company have a different plan for each one?

We consider each market in Latin America to be different. This distinction is crucial for our operations. Although Mexico, Argentina, Colombia, and Panama share the same language, it is important to recognize that there are many cultural nuances. Betting is no different. The importance we place on certain sports or types of bets also varies. For example, Mexicans have a much greater interest in U.S. sports, given their proximity to the United States.

Our approach is to have individual and local teams in each country. This allows us to analyze a wide variety of data and tailor our offering to appeal to customers in those countries. This takes more time and effort than an 'off-the-shelf' or one-size-fits-all strategy, but the results show that it pays off.

Brazil stands out for its ongoing regulatory process and its projected regional importance. What are Codere Online's expectations for a market of this size?

Brazil is a market that is much talked about and has attracted a lot of attention in recent months. It has enormous potential, but it is not without its difficulties. We are following the legislative process closely and are open to exploring the market in the future, if it fits our strategy and if we have the necessary resources. For the time being, Codere Online is not prioritizing Brazil, as we continue to focus on our core markets. But we are curious to see how it evolves into a strong, regulated jurisdiction, with the kinds of opportunities it seems to promise.

River Plate, Real Madrid, and Rayados de Mexico are some of the partnerships that the company has made in the world of sports sponsorship. What are the main advantages of associating the brand with such strong institutions in soccer around the world?

These types of sponsorship are excellent ways of attracting customers. We can use our relationships with clubs to leverage branding opportunities we wouldn't have without them, such as player attendance at events or the use of grounds for our Codere Cup competition. To do this well, we need to be true to our brand and the clubs' brands, and make sure we activate those sponsorships appropriately.

We take our time to understand which brand best matches our identity to have the best possible relationship. We want to be true partners to attract players, and not just another name on the jersey. Brand partnerships have been a powerful tool for us, but it must be a two-way street, where we are respectful of the clubs.

Artificial Intelligence has reached practically every aspect of our lives. How does a company like Codere Online take this technological advance and what application do you see for it?

I think the impact is not yet as big as it will be. AI has the potential to introduce profound changes in operations, marketing, and acquisitions. The most obvious uses are in segmentation, but we still believe strongly in maintaining a human element in the relationship with our customers. Ultimately, that's what differentiates us from a generic computer-driven trader. We see AI being used more and more in product delivery, and we are doing a lot of research behind the scenes to take advantage of this new technology, which will have a huge effect on everything it touches.

One feature we have recently launched that our customers in Mexico are already benefiting from is a fully automated, AI-powered conversational chatbot that allows us to launch exciting promotions and serve customers seamlessly.

Putting yourself in the consumer's shoes, what do you think are the most appreciated values and strengths of Codere Online?

I would highlight several pillars, but ultimately it all revolves around keeping the customer at the center of what we do.

- The personalization of offers based on players' preferences and the regular rewards and bonuses to benefit from them.
- Customer service is a key differentiator, it needs to be fast and helpful, especially for VIPs, who like to feel like VIPs.
- Product and content: it has to be attractive, games have to be updated and features have to be added so that it never gets boring.

Additionally, it's important to build a strong brand and to be perceived as a transparent and fair operator where customers feel safe to play. Finally, VIPs are also motivated by experiences, so we like to give them access to unique experiences, for example, attendance at sporting events or access to their favorite players, which they wouldn't otherwise have.