The company already operated in more than 50 countries worldwide and the new licences further demonstrate Altenar’s position as a sought-after partner with a flexible solution which can be tailored to all regulated markets.
The use of premium data feeds from official rights holders powers Altenar’s products and a range of new sportsbook features have been launched recently to highlight the continued focus on improving the user experience.
A proactive approach to compliance is also paying off, and Altenar has a track record of acting swiftly as soon as new regulations allow in order to accelerate the go-live process and provide its sportsbook clients with a competitive advantage.
The new licence from the Western Cape Gambling and Racing Board marks a significant milestone in its expansion into the burgeoning South African market.
Altenar is now a registered and licensed National Manufacturer in the thriving jurisdiction, following a rigorous process. During the initial stages, several stakeholders were required to complete detailed KYC and compliance checks, as well as fill in significant paperwork to demonstrate the provider’s suitability.
The opportunity opens up the doors to further expansion on the African continent and demonstrates its appeal to operators across multiple continents.
Sam Hill, Sales Director at Altenar, said: “Altenar is delighted to receive our licence to supply our sportsbook solution into South Africa. It is another significant step for us globally and is a key target market for us to further establish our product.
“We’re confident we have all the necessary product features and quality to offer the best solution on the market. This is across core sports such as football and racing, as well as offering customers the ease to prioritise key local content and sports via our highly flexible UI/UX.
“There are also a variety of ways that we support seamless cross-sell between products, which in a market such as South Africa, with the popularity of all verticals, will stand us and our customers in good stead. We are looking forward to the future in South Africa and the wider African market.”
New licence is ‘gateway to Africa’
The licence is the first that Altenar has acquired in a regulated market in Africa and positions the company in a strong position to expand into other territories in the continent as regulations are introduced.
Magno Neiva, Altenar’s Head of Licensing and Regulatory Compliance, said: “South Africa is the country that sets the gold standard from a regulatory perspective. It is one of the few with the longest tradition when it comes to gambling and they are the ones who help define the licensing structure that other African countries are likely to follow.
“There will be synergies that come from this application which will help us apply for licences from other countries in Africa which adopt a similar approach.”
Acquiring a licence from the Western Cape Gambling and Racing Board.presented Altenar’s compliance team with a number of challenges but clearing such hurdles puts them in a strong position moving forward.
“South Africa is one of the most developed countries in Africa and is English speaking, which made the application process much smoother,” added Neiva as he reflected on the application process. “We also have partners in the region who were able to support the process and having a local presence helped a lot.
“The process to apply for a licence in South Africa was very similar to some US states. The approach that the WCGRB takes is that every applicant ‒ identified by the WCGRB ‒ must fill in a multi-jurisdictional personal form.
“Each country differs in the format but a multi-jurisdictional form usually has around 60-70 pages, and the form for South Africa specifically focused on our stakeholders needing to disclose all their life for the past decade or more.
“The due diligence process went deeper than any other country, even the United States.
We would never be able to obtain this licence without the support of our main stakeholders because they have been willing to pass by a high level of personal scrutiny to a foreign regulator.”
While that may have made the process a tougher task, Neiva believes it positions Altenar in a strong position when it comes to future licence applications.
“The process for South Africa has allowed us to enhance our database of the information that we need for any applications which are complicated and may require more paperwork,” he added. “We have gained knowledge and project management awareness that we did not already have, and we are now in a much better place for future applications which require a comprehensive disclosure.
“This licence is our gateway to Africa – it will really open the doors to any regulated African country. It has given us the knowledge and the contact points to be in the region so this is the first step for Altenar’s expansion in Africa.
“It is very interesting that the first licence we attained for Africa was in a place where there is a very famous cape that was called Cape of Storms and currently is called Cape of Good Hope, and we do expect that after passing the licensing challenges, a hopeful future shines in Africa.”
Altenar has also been granted a supplier licence by the Danish Gambling Authority (DGA), marking the provider’s entry into the newly regulated market.
Obtaining the DGA licence involved a thorough evaluation process, with Altenar now able to partner with and offer its award-winning solutions to licensed operators after the regulated market went live at the start of January.
Neiva added:
“Securing the Danish B2B supplier licence represents a significant milestone for Altenar as it is one of Europe’s top 10 online betting markets with plenty of opportunity for growth.
“We are excited to bring our award-winning sportsbook solutions to Danish players and remain committed to delivering further exceptional products and services that appeal to new audiences in the jurisdictions.”