B2B Sports Betting and iGaming Supplier FSB Opens New Tech Hub in Colombia
Posted on: August 30, 2022, 10:30h.
Last updated on: September 1, 2022, 03:19h.
The Latin American gaming market continues to evolve with growing operations arriving in Argentina, Peru, Colombia, and other countries. As it advances, FSB, a global provider of B2B sports betting and iGaming, continues strengthening its position in the market with a new technology hub in Medellin, Colombia.
Colombia’s gambling market is one of the top-performing markets in the LatAm region. It has consistently seen improved sales for more than a year, attracting some global and regional operators.
FSB is establishing a technology center to help boost and expand its presence in Colombia. In addition, it is equipping its newly incorporated technology team with the necessary means to sustain FSB’s ambitions in South America and beyond.
Setting Down Roots
In addition to focusing on Latin America, FSB will use the Colombian team to support its growth in North America. It recently secured a license in South Dakota and received approval to operate in Ontario, Canada, in March.
The 30-person team will help FSB launch more quickly in markets with greater interest in the company. In addition, the new team will coordinate its efforts with FSB’s global teams to deliver a cohesive solution in all of the company’s operating markets.
Opening a new hub in the Americas has become essential due to the rapid growth of our client base in North America in the last 12 months, as well as our strong ambitions in the LatAm region,” said FSB CEO Dave McDowell.
The London-based company offers a range of solutions for the B2B iGaming segment. It provides in-house and data solutions for various sports and offers a KYC-friendly platform for easy on-ramping. In addition, FSB has a variety of casino games from several suppliers. This offers greater flexibility to gaming operators.
Changing With the Times
FSB previously offered a B2C gaming solution. However, it switched gears after realizing there was a need for end-to-end B2B gaming options. Three years ago, it began to transition away from B2C operations to focus solely on becoming a B2B company.
It received help in reaching that goal when private equity group Clairvest invested in its future three years ago. When JenningsBet separated itself from FSB in June, the transformation was complete.
Part of the decision to change directions came from FSB’s disagreement with the UK Gaming Commission (UKGC) in 2020. The regulator wanted the company to be responsible for its white-label operators’ shortcomings.
The UKGC accused FSB of not providing enough oversight of its partners’ activities. This allowed those businesses to violate regulations about marketing, anti-money laundering protocols, and more. The company settled its differences with the regulator by paying a £634,300 (US$739,086) fine.
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