Online IPS, which offers payment solutions to business owners struggling with common merchant services, will creatively express its presence at Juegos Miami. The company’s Brazilian co-founder, Witoldo Hendrich Jr., explains Juegos Miami’s pivotal role in developing gambling in the region, the importance of working with government decision-makers, and the reasons for sponsoring a cigar event.
In your opinion, how important is it for gaming interests in LatAm to have a professional meeting place like Juegos Miami?
For gatherings like Juegos Miami, bringing together key players in the industry is critical. In order for the industry to develop effectively, leading voices need to be created and consensus built not only to establish and share common values, but also to develop common standards and best practices that help to make operational relationships between industry participants more efficient to design. This, in turn, will lead to more cost-effective and reliable experiences for consumers and strengthen their confidence in the market.
Our team in Brazil is actively demonstrating to congress delegates the best practices that are in operation, and Juego’s Miami is a fantastic backdrop to this.
Can you summarize what you want to achieve from your participation?
Through our key local partners, this type of event is an opportunity for us to continue to do everything we can to support the development of the market and to be profitable. We hope that we can make a positive contribution to this process, which enables us to get in touch with the market makers as soon as opportunities arise for consumers. Juegos Miami not only affects people, it is also an opportunity for learning.
Which nations in LatAm are you active in?
In addition to Brazil, we are present in Colombia and develop solutions in other countries, including Mexico, Argentina, Chile and Peru.
Do you think it’s valuable for politicians and decision makers to be able to engage with the industry in a professional environment and see it for what it is?
There is no doubt about that! For such gatherings, it is essential to involve industry leaders, market makers and policymakers. They provide an extremely efficient way for each of these groups to get to know the values and goals of the other group, and provide opportunities for developing ideas and plans that support the interests of all parties. Organizations representing industries like these must always work closely with regulators and policymakers to demonstrate the market’s ability for serious self-regulation and good governance. It is also about understanding the implications of legislation. For example, a tax policy that does not allow the industry to be profitable is a backdoor ban that inevitably attracts illegal operators.
What are the specific challenges of working in LatAm and how do they differ from those in say Europe or Asia?
Europe is a highly developed and mature market, and Asia seeks to emulate the best practices and elements of other successful gaming markets such as the UK, Malta and Sweden. To be honest, LatAm is an emerging market and is still in its infancy. I think we need to see what has worked in different markets and align the regulations accordingly. We are worried that we (LatAm) are trying to reinvent the wheel, which will delay the development of a sustainable game industry. All of these reasons underscore why Juego’s Miami is so important. Meet the experts, debate, agree and enact laws in a way that contributes to a progressive, responsible and sustainable marketplace.
Your decision to sponsor cigars at Juegos Miami is very creative – where did the idea come from?
It came from Dennis DeLaRosa, Online IPS President, who has attended more fairs than he’d probably want to remember! When we sponsor an event, we try very hard to tell a story and create a unique idea that arouses interest – something that will be collegial, memorable, sociable and culturally interesting. Seeing a cigar rolled, taking it home and then sharing the experience with a friend is a great story and hopefully one that we can remember.