In this context, Paag expanded its ecosystem of solutions focused on the sustainability of operators. Highlights include Paag Finance, Shield KYC, and Shield AML (PLD), launched with a focus on anti–money laundering prevention, risk management, and strengthening Responsible Gaming practices. The solution acts as a compliance shield, providing data intelligence and tools so that operations can treat Responsible Gaming with the seriousness it requires.
Looking ahead to 2026, the sector is expected to undergo a consolidation process. Operations that invested in technology and compliance will have room to stand out, while those that failed to build proper structures may face difficulties amid regulatory demands. Elisa also believes this movement will tend to favor operations that invested consistently in compliance and technology, distinguishing themselves through transparency and solidity.
Despite advances in processes and technology, the sector still needs to mature its Responsible Gaming culture by genuinely using the protection tools that already exist. According to the executive, “cutting off risky behavior today is not losing revenue—it is protecting the customer’s LTV (a metric that quantifies the total financial value a given customer generates for a company) tomorrow.”
The growth of Brazil’s betting market is also seen as potentially significant. With regulation in place, development is expected to be more qualitative, involving the entire chain of operations, technology, and compliance, and consolidating iGaming as a legitimate form of entertainment.
Below are the executive’s projections and assessment of the first year of the regulated market.
How do you see the sector’s evolution in this first year of regulation?
Elisa Mussolino – Driven by the new legal framework, I see this first year as one of accelerated maturation. The scenario required profound transformations across the industry to ensure compliance, professionalize operations, and, above all, deliver consistent results.
What does the sector still need to improve?
The sector has evolved significantly in technology and processes, but it still needs to mature in its Responsible Gaming culture. The industry needs to work together to demystify itself in the eyes of Brazilian society, reinforcing iGaming as a legitimate form of entertainment, not a source of income.
The challenge now is to ensure that existing and robust protection tools are used genuinely, rather than merely to tick regulatory checklists. Operations must understand that cutting off risky behavior today is not losing revenue—it is protecting the customer’s LTV tomorrow. This is an evolution that still needs to happen.
How do you view the consolidation of the betting market in Brazil?
I see it as a natural and even expected movement. Regulation significantly raised the bar in terms of technical and financial requirements, and this works as a quality filter.
Those who did their homework in 2025 and built solid foundations will have room to grow. Operations that failed to structure themselves will naturally struggle to keep pace with this new market. Ultimately, this consolidation brings greater security to both the sector and users.
What are your expectations for the sector in 2026?
I see 2026 as the year of consolidation. If 2025 was dedicated to building the foundations, the next cycle will focus on validating those structures.
There will naturally be closer oversight from the regulator, which I see as positive. It will be the moment when operations that invested deeply in compliance and technology can demonstrate the solidity and transparency of their businesses, standing out in the market for the quality of their delivery.
How has Paag evolved during this period?
In this scenario, Paag not only adapted but consolidated its leadership and authority in iGaming. We went beyond basic compliance, expanding our ecosystem with solutions that are vital to the sustainability of operators.
Paag has a track record of launches that ensured compliance for operators, such as Paag Finance and Shield KYC, but I would highlight the strategic launch of Shield AML (PLD), which acts as a true compliance shield, delivering data intelligence for risk management and providing the robust tools needed to address Responsible Gaming with the seriousness required by the new legislation.
How much can the Brazilian market still grow as an industry?
I see enormous potential. Brazil is already a giant, and with the legal certainty provided by regulation, we have everything needed to consolidate ourselves among the global top markets in terms of business volume.
Growth will no longer be just about the volume of new users; it will become qualitative. We will see the development of an entire chain—industry, technology, payment methods, marketing, and compliance. Brazil has a digital reach and a passion for sports that are unique in the world; when we combine that with a regulated environment, the growth ceiling is still very far away.
Source: Paag
