(H1): Market growth outlook (Bolivia)

1) Brief conclusion

Bolivia's market remains compact, regulated and urban. Growth until 2030 will be evolutionary: point openings of offline sites in La Paz, Santa Cruz and Cochabamba, gradual digitalization of reporting and accurate expansion of the online channel through AJ licenses. Drivers - payment upgrades, mobile user behavior, improving the quality of service and compliance. The main risks are restrained household incomes, limited payment infrastructure, "gray" online and strict advertising filters.

2) Growth drivers

Payments and fintech. Expansion of cards/instant transfers, better approval of transactions, transparent cashouts.

Online vertical. Licensed digital products (betting, casino, bingo) under e-KYC/AML/KYT and reporting to AJ.

Content quality. Updating slot parks, localizing hits, Live-casino as a holding product.

CRM and loyalty. Personalization of offers, honest bonus T&C, RG tools in the interface.

Urban ecosystem. Synergies with mall, hotels and F&B; stable "evening" traffic of residents.

Transparency and trust. Visible AJ licenses, quick payments, unified reporting - fewer barriers to the first deposit.

3) Limiters

Small scale and geography. Concentrated demand in the Big Three cities; beyond - point sites.

Advertising. Strict rules (18 +, RG-marking, prohibition of "easy money") limit "performance."

Household income. The check and frequency of visits are lower than in large markets in the region.

Cyber/security. Demanding logs, data protection and countering "gray" online traffic.

4) Scenarios to 2030

Scenario	What's going on	Total for the market
Basic	Point opening of halls, stable payments, careful licensing of online AJ	Moderate growth in turnover, increase in the share of online, improvement in the quality of service
Optimistic	Fast payment upgrade + unification of online reporting and RG	Onboarding Acceleration, Above Retention, Mobile Betting Share Growth/Live
Conservative	Payment restrictions and strict advertising agenda without technological jerks	Stagnation, competition goes to UX and payouts, offline remains dominant

5) What will change offline

Slot core of 80-200 + devices with firmware updates every 18-24 months and visible jackpot networks.

Compact live corners (2-6 tables) with evening prime; VIP zones on demand.

Bingo events as a stable social driver.

Service and cashout. Winning P95 10-15 minutes - standard, repeated KYC for large amounts.

Compliance. Cameras, incident logs, a single AJ reporting metric ↔ accounting.

6) What will change online

Focus on mobile-UX. Quick deposit (≤60 sec P95), transparent limits, instant visibility of withdrawal status.

e-KYC/AML/KYT. A hard threshold for large payments, anti-fraud according to devices and behavioral rules.

Content. Hit slots + 1-2 Live shows; sports live as an entry point.

Advertising and affiliates. White lists of domains/creatives, RG-marking, rejection of aggressive slogans.

Reporting. Daily bet/payout/bonus/jackpot uploads, consistency with GL ≥ 99.5%.

7) Payment path

Cards and transfers are the main rail; multi-PSP support and fallback routing.

Cryptocurrencies - only in strict models with on-chain KYT, limits and transparent conversion.

KPI of payments: approval of deposits ≥ 90%, withdrawal P95 ≤ 15 minutes (verified player), chargebacks ≤ 0.4-0.6%.

8) Risks and how to reduce them

Gray online. DNS/payment firewall, affiliate audit, quick moderation of creatives.

Opaque bonuses. T&C templates without "small print," public condition tables.

Security incidents. Pentests, PII encryption, response plan, RTO/RPO are anchored in the SLA.

Discrepancies in reporting. Unified event dictionaries, daily AJ ↔ GL ↔ PSP reconciliations.

9) Maturity KPI by 2030 (benchmarks)

Direction	2026	2028	2030
-------------------------------	---------:	-------:	----------:
Share of online turnover	↑ moderately	↑	↑↑
Deposit success	≥ 90%	≥ 91%	≥ 92%
Output P95 (online)	≤ 20 min	≤ 15 min	≤ 10-12 min
Share of players with RG limits	≥ 20%	≥ 25%	≥ 30%
Consistency of AJ ↔ GL reports	≥ 99,3%	≥ 99,5%	≥ 99,7%
Complaints resolved ≤ 10 slaves. days	≥ 90%	≥ 93%	≥ 95%

10) Investment Abstract

Where to open: La Paz and Santa Cruz's top neighborhoods; in Cochabamba there are compact halls near the shopping corridors.

Format: slots + small live + bingo grid; VIP - by demand.

Stack providers: Pragmatic/Play'n GO for slots; Evolution for Live (when executing the AJ order).

Payments: 2-3 PSP for deposits, bank transfers to large cashouts; current anti-fraud and KYT.

Marketing: CRM loops, honest bonuses, offline events; strict control of affiliates.

Compliance: "zero tolerance" for discrepancies in reports, RG/AML will audit before all upgrades.

11) Operator's roadmap (12-24 months)

1. Compliance quick audit: AJ, RG/AML/KYT licenses, advertising policy, reporting.

2. Payments: connect a backup PSP, configure BIN routing, reduce output P95.

3. Content: update 70-80% of the portfolio with slot hits, add 1-2 Live shows.

4. CRM and RG: one-click limits/self-exclusion, birthday/retention offers with honest wagering.

5. Reporting: unify AJ ↔ GL ↔ PSP uploads, automate daily reconciliations.

6. Service: target offline cashout P95 ≤ 15 min; chat response ≤ 3 minutes.

7. Safety: penetration test, software version log, incident management training.

12) FAQ

Will online catch up offline?

Gradually - yes, but it will remain niche relative to offline without a sharp payment upgrade.

Should you count on a "resort" boom?

Rather, point projects; the core of demand will remain urban.

What affects LTV the most?

Payout speed, honest T&C, content quality and personalization - with mandatory RG.

What is the main indicator of maturity?

Coincidence of AJ ↔ GL ↔ PSP reports and absence of critical compliance incidents.

13) The bottom line

By 2030, the Bolivian market will grow in quality, not quantity: better payment coverage, more convenient mobile UX, RG/AML discipline and stable reporting. Operators who are the first to establish multi-PSP, fast payouts, honest bonuses and transparent metrics will take a stable share both offline and neatly licensed online.