Watch: Altenar on US market entry, full regulatory compliance
The US iGaming market is expected to grow 10.3 percent by 2030, according to a Fortis Media report. It added that state legislators are the biggest obstacle to the growth of sports betting and iGaming markets in the US.
With this outlook for the US iGaming market, Dinos Stranomitis, Director & COO of Altenar, shared with SiGMA TV insights into the company’s expansion plans, highlighting North America as a key focus alongside Europe and Latin America. “This year looks to be an exciting year once again. After COVID, we saw tremendous growth,” he said.
Altenar has already established a presence in Mexico and Canada, particularly in Ontario. However, Stranomitis revealed that the company is preparing to enter the US market. “What could be new for Altenar this year is that the US might be a new territory for us. We have already done some in-house preparation, and things could move that way, hopefully in a very successful approach.”
Compliance and strategic partnerships
Before making a move into the US, Altenar is ensuring that all regulatory requirements are met. “At the moment, we try to make sure that everything is in compliance with how it should be,” Stranomitis stated. Once compliance is secured, the company will begin discussions to develop the right product and infrastructure.
Entry into the US will also depend on partnerships with operators. “We have some agreements with some operators that we have to go together there,” he explained. “Then we need to iron out some ideas [and] agreements and go forward.” He confirmed that this initiative is on Altenar’s roadmap for 2025.
Sports betting as a key driver
Even as the company develops other products, sports betting remains Altenar’s primary focus. “The sportsbook is the main product. It’s quite complicated,” Stranomitis said. He emphasised that Altenar aims to ensure its sportsbook remains competitive on a global scale.
“When you see several sportsbooks, you will notice Altenar is not missing anything. Eventually, we have more features compared to others,” he added. Looking ahead, Stranomitis identified quality as the main differentiator in the market. “If you ask me what the key factor is in the coming years—quality, data quality, and product quality. Everything has to be up and running almost at 99 percent, several nines in percentage.”
AI integration and prospects
Altenar also invests in artificial intelligence (AI) through its proprietary Altenar Intelligent Platform (AIP). “We try to put as many AI or intelligent tools as possible in our product,” Stranomitis said. Rather than seeing AI as a threat to jobs, he believes it will enhance the industry. “We would be very happy to see robots taking over some jobs, and we give our people more interesting jobs.”
He compared the internet’s impact on employment, adding, “Everyone was scared that the internet would make some jobs obsolete. I think it’s the opposite.”
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