Speaking to iGaming Business, Flood explained that while the black market remains relevant, its actual impact on regulated operations is smaller than many expected. “The illegal market is always present, but it’s not what wakes me up in the morning,” he said.
The executive estimates that unregulated activity may represent around 15% of the market, considerably lower than earlier projections of up to 70%. “What really concerns us is the level of competition among licensed operators,” he added.
"The big problem is that people who play in the country don't have proper player protection, and any new regulations that make it more difficult to operate, such as bonus restrictions, tax increases, or even issues related to the Bolsa Família program, will end up pushing these players into the illegal market, where they are not safe, play with unlicensed operators, and the operators don't pay taxes."
Superbet has quickly established itself as one of the top players in Brazil, ranking among the three largest licensed operators, alongside Betano and Bet365.
Flood believes the natural process will be market consolidation, with only the strongest operators able to sustain their presence over time. High regulatory, tax, and marketing costs make it difficult for smaller operators to compete, paving the way for a market dominated by a few major brands.
A key factor in Superbet’s success has been localization. “We invested in local talent and tailored our communication to resonate with Brazilian users,” teh executive said.
The company has also built a strong brand presence through high-profile sponsorships, including clubs like Fluminense and São Paulo, the Série B football league, and cultural events such as the Rio Carnival. According to Flood, “Creating a recognizable brand in such a short time is a huge achievement for us in Brazil.”
Despite these successes, challenges remain. Gaining visibility in a large and diverse country requires significant investment, while regulatory and tax obligations can limit operational flexibility.
Yet, the General Manager of Superbet Brazil views competition as a positive signal, reflecting a vibrant market with enormous potential, where marketing, product strategy, and user experience will determine the winners.
Ultimately, Superbet offers a pragmatic perspective on Brazil’s evolving market: “Regulation is not the end goal; it’s the starting point,” Flood explained.
Success will not come simply from holding a license but from adapting, innovating, and genuinely connecting with the local audience. In a country where legal gaming is entering a new phase, competition is set to be the true measure of the sector’s future.
Source: GMB
