“There definitely seems to be a momentum when it comes to the Brazilian market. It really feels like a matter of ‘when’ not ‘if’. When we look from the outside, we see that the wider industry is definitely asking about and exploring what opportunities are available or on the horizon,” said Gustavo Zonca to iGaming Times.
Regarding future options in the local market, Zonca has no doubt: “The online component is also very big but it has so much room for growth that companies can explore and invest in going forward. It is early days and for sure the potential is enormous, but it will really reward those that take their time to really ‘study’ the country, consult with experts and invest in the right way.”
When talking about the potential of the market in terms of sport bettings and the future possibilities in that segment, he says: “We are dealing with a country that makes up half of South America: that is over 200 million people, and I don’t think I need to tell anyone how sports mad they all are!”
Asked about any advice for other operators looking to position themselves in the future regulated Brazilian market, Zonca mentioned some interesting concepts: “Those who will succeed will be those that showcase strong creativity and ambition, but who balance this with a sense of humility. Brazil is a huge country that encapsulates a range of cultures in just one country.”
“Those who think that they can come in and just replicate what they do in other countries will definitely struggle. Research will unlock the opportunities as it will help new entrants understand the nuances and preferences. Brazilians also like to deal with Brazilians so a big spend on marketing is not quite enough.”
“And those that show the requisite respect and appreciate the idiosyncrasies of Brazil will find the support, find the offering and find growth,” he concluded.
Source: GMB / iGaming Times