GiG powers Inkabet launch in Peru

Jade Denosta July 22, 2024

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GiG powers Inkabet launch in Peru

Gaming Innovation Group Inc. (GiG) has sealed a platform deal to launch Betsson’s Inkabet, in the Peruvian market. Inkabet, which recently obtained its Peruvian licence, is set to kick off operations this month using GiG’s platform. The move marks an expansion of the long-standing partnership between GiG and Betsson, encompassing eight markets in Europe and Latin America.

GiG’s strong track record in powering brands across Latin America and Betsson’s growth ambitions in the Peru positions Inkabet for rapid growth.

James Coxon, Chief Operating Officer at GiG, expressed confidence in the partnership’s potential, stating, “This partnership marks another milestone in our journey together with Betsson, spanning across multiple regulated markets. At GiG, we pride ourselves on fostering successful long-term partnerships, and Betsson’s trust in our capabilities is a testament to that. With our extensive experience in Latin America and our cutting-edge technology, we’re confident that on GiG’s technology, Inkabet will drive exponential growth in Peru’s burgeoning iGaming market.”

The Chief Commercial Officer at Betsson Group, Ronni Hartvig, also confirmed his enthusiasm for the latest partnership milestone, He said, “We are excited to strengthen our partnership with GiG through the launch of Inkabet on their platform. This collaboration aligns perfectly with our strategic goals and commitment to providing top-tier gaming experiences in regulated markets. With GiG’s proven technology and deep expertise in Latin America, we are confident that Inkabet will achieve significant growth and success in Peru’s newly regulated iGaming landscape. We look forward to continuing our joint efforts in delivering exceptional value to our customers across the region.”

Capitalising on the momentum of the alliance, Betsson Group has also announced Colombian football legend René Higuita as its brand ambassador. Higuita’s renowned “scorpion kick” and his passion for football are expected to significantly enhance Betsson’s presence in Latin America. Higuita said that he was delighted with this collaboration. He added, “This alliance began as a bold idea and has now become a reality. I’m proud to join Betsson to make a difference and bring the passion of football closer to the fans.”

Peru’s online gambling market

Peru’s online gaming industry t is booming, with Statista analysts projecting revenue to reach $314.8 million (approximately €289 million) in 2024. This growth is expected to continue at a steady pace, with a Compound Annual Growth Rate (CAGR) of 5.97 percent from 2024 to 2029, reaching a projected market volume of $420.6 million (approximately €386.1 million) by the end of the forecast period.

Online sports betting is leading the charge, boasting a projected market volume of $169 million (approximately €155.1 million) in 2024. Football remains the undisputed champion, capturing the majority of the online sports betting market share in Peru.

The average online gambler in Peru is expected to spend $439.40 (€1403.46) in 2024, highlighting strong user engagement. The projected number of online gambling participants is expected to escalate to 880,600 by the year 2029. As of 2024, the penetration rate of users stands at 2.1 percent, a figure that is anticipated to see growth in the future.