Virtual sports have existed in Latin America for years, but adoption has been uneven and largely secondary to traditional betting products. That may be starting to differ as changes in regulation, particularly in markets such as Brazil and Peru, are beginning to create a better environment for operators, while player preferences are also evolving toward faster, shorter formats.
At the same time, the region remains far from mature. Compared to Europe, where virtual sports are an established part of the sportsbook mix, most Latin American markets are still at an earlier stage, with operators testing where the product fits and how it should be positioned.
In that context, Kiron Interactive is increasing its focus on the region. Speaking to Yogonet, Board Advisor Ramiro Atucha discusses what has changed in recent years, where the strongest opportunities lie, and how the company is approaching a market that is still developing but no longer early.
Latin America has been identified as a priority region for Kiron this year. What has changed in the region to make now the right moment to accelerate expansion?
A number of factors have come together to make this the right moment for Kiron to increase its focus on Latin America. The first is the evolution of regulation across the region. Brazil, Argentina and Peru are now regulated in different forms, while Chile and Ecuador are moving in that direction.
Mexico, although operating under an older regulatory framework, is also a market where growth is clearly possible. Overall, the region is becoming more structured from a regulatory standpoint, which encourages suppliers and operators to invest more seriously in developing the market.
The second factor is internal to Kiron. We have built a strong footprint in markets such as Africa and parts of Europe, where virtual sports have seen significant growth. That experience gives us valuable operational insight that we can bring to Latin America, both in product deployment and in working closely with operators to build and develop the vertical.
The third element is demand. Over the past few years, we have seen increasing interest from operators in the region, not only in virtual sports as a category, but specifically in the type of products Kiron develops. While Latin America has had some exposure to virtual sports, most markets are still at an earlier stage compared to Europe, which remains the most mature region.
That stage of development creates a real opportunity. It allows us to enter the market and collaborate with operators to grow the category, applying our experience from other regions and ensuring our solutions are adapted to each market.
Which LATAM markets present the biggest opportunity for growth at the moment?
In terms of scale, Brazil and Mexico naturally stand out. Their population size, combined with evolving regulatory environments, makes them key markets for long-term growth.
Brazil’s recent regulation is particularly important because it allows companies like Kiron to enter with a full product offering. We see strong alignment between the Brazilian player profile and the type of products we provide, and early discussions with operators have been positive.
Virtual sports sit naturally within the sportsbook environment rather than the casino vertical. In a market like Brazil, where sports culture is strong and engagement with sports betting is already high, that creates a natural fit.
We also see strong potential for instant-win type experiences. The popularity of formats such as crash games in Brazil shows that players are comfortable with fast, high-engagement experiences. Our products bring the structure and narrative of real sports into a shorter format, typically two to three minutes, which appeals to players looking for quick entertainment without committing to longer events.
Beyond Brazil and Mexico, markets such as Peru and Argentina also offer strong opportunities. While smaller in population, they already have regulatory frameworks in place and a growing operator base. Looking ahead, Chile and Ecuador could become increasingly relevant as their regulatory processes develop. Overall, the opportunity across Latin America is broad, with multiple markets developing at different speeds.
Kiron has said localisation is a product decision, not a cosmetic one. What does that mean in practice?
Localisation goes far beyond translating a game or adjusting visual elements. It starts with selecting the right products from the outset. Kiron has a broad game library covering multiple sports, which allows us to deploy titles that are most relevant to each market. In Latin America, football is a natural starting point, although other sports can also perform well depending on the market.
Language is an important part of localisation. In Brazil, for example, the product must be fully adapted to Portuguese, including commentary, terminology and naming conventions that feel natural to local players.
Beyond that, localisation involves understanding player behaviour and being open to experimentation. Markets can evolve in unexpected ways. The success of formats like Aviator or Jogo do Tigre in Brazil highlights how player preferences can develop beyond initial assumptions. For that reason, localisation is an ongoing process. It involves testing, measuring and refining the product based on real engagement data.
How do you determine whether to adapt an existing product or build something market specific from the ground up?
With a game library as broad as Kiron’s and more than twenty years of experience across multiple markets, we usually have a strong starting point when entering a new region.
In most cases, the first step is to select and adapt existing products that have a high likelihood of success. Based on our experience, we can identify which sports, formats and mechanics are likely to resonate with players. From there, the process becomes data-driven. We launch the product, analyse performance and refine based on player behaviour and operator feedback.
Only once that understanding has developed does it make sense to consider building something more tailored to the market. At that point, decisions are based on real engagement insights.
The regulatory environment varies widely across LATAM. How do suppliers maintain operational flexibility in province-led markets such as Argentina? And are operators preparing for regulation in Chile?
Argentina operates under a province-led model, which means suppliers and operators work on a jurisdiction-by-jurisdiction basis. In practice, the main impact is administrative rather than technical.
Certification standards across provinces are broadly aligned, but suppliers still need to complete registration in each jurisdiction. Some provinces recognise approvals from others, which helps streamline the process to a degree. The main implication is that rollout can take longer due to the additional steps involved, but from a compliance perspective, it does not present a significant challenge.
In Chile, we are seeing a different dynamic. Even before regulation is finalised, many operators are already preparing for it by reviewing their product strategies and compliance requirements.
Virtual sports often perform strongly in retail environments. In LATAM, are you seeing stronger growth online, mobile or retail? What KPIs matter most for operators?
Virtual sports have historically performed strongly in retail environments, largely because retail provides guidance and education for players. In betting shops, staff can explain the product and help players understand how it works, which supports adoption. Online, that guidance is less direct, so operators need to be more deliberate in how they position and promote the vertical.
Placement is one area that still needs attention. Virtual sports are sometimes positioned within the casino section of online platforms, when they tend to resonate more with sportsbook players.
Retail can also support online growth. In markets where retail betting has been established for longer, players are often already familiar with virtual sports. As they move online, adoption tends to follow naturally. Operators typically track metrics such as player adoption, active users, frequency of play and overall growth trends.
Do you see virtual sports in Latin America as a bridge product or a long term vertical?
We see virtual sports as a vertical in its own right, with significant room to grow. They perform particularly well alongside traditional sports betting, especially when there are fewer live events or when players are looking for a quicker experience. The format is familiar to sportsbook players, but delivered in a much shorter cycle, with results available in minutes.
We have already seen this progression in other regions. In markets such as Italy, virtual sports represent a meaningful share of sportsbook activity, and we have seen similar growth across Africa and parts of Europe. Based on those experiences, we believe Latin America can follow a similar path as the market matures and player familiarity increases.
