"We couldn’t be happier to see regulations finally getting the go-ahead in Brazil after what has been a lengthy process. It is no secret that Brazil is a market with enormous potential," commented Sportingtech's Chief Sportsbook Officer Tommy Molloy.
The executive believe that "the 15% tax on winnings is half of the figure that was initially proposed, which is positive.”
“With more than 130 brands reportedly expressing interest in obtaining a licence, there certainly doesn’t appear to be concerns that bettors will stray from the regulated market," he added.
Molloy also delves into the strategies to engage Brazil's passionate sports fans, especially football enthusiasts: "Seamless, localised experiences are key... Brazilian customers should have access to a website or app that is clearly aimed at their specific tastes, in their own language with content they enjoy, in one or two clicks."
Sportingtech's success in the Brazilian market, particularly in Serie A, is attributed to research-driven product enhancements, including Bet Builder features and integration of Share-a-Bet functionality.
"By integrating the Brazilian Serie A into our Bet Builder, we have seen fantastic engagement and results, with an impressive 10,000 bets placed using the feature during each match across the 2023 season," Molloy detailed.
Addressing the importance of localization in Latin America, Molloy explains how Sportingtech caters its sportsbook platform to different demographics: "We have teams around the globe who research player behaviours and analyse a vast array of data... We have built our platform in a modular way, allowing our operators the flexibility to tailor their websites to maximise their offering."
He discusses the modular structure of their platform, allowing operators flexibility to tailor websites, and the focus on functionality across different operating systems, acknowledging the prevalence of Android devices in the region.
Molloy outlines Sportingtech's groundwork to become a trusted partner for operators in the Brazilian market, emphasizing their reputation, knowledgeable team, and commitment to understanding local player bases.
"We have been planning for quite some time and created an outstanding reputation across LatAm... Understanding the player base within each jurisdiction and what it enjoys most is of great importance," the executive said.
Looking ahead, he discusses the company's plans for SBC Summit Rio, emphasizing positive conversations with partners and the goal of enhancing Sportingtech's footprint in Brazil over the next 12 months, leveraging tools and capabilities to support operators both before and after license applications open.
"Our attendance at SBC Summit Rio will be no different than others in the calendar... We will be looking to further enhance our footprint in Brazil over the next 12 months,” he concluded.
Source: GMB / SBC
