Joining Baptista on the panel will be other prominent names in the industry such as Alex Fonseca (Superbet), Andreas Bardum (KTO Group), Almir Silva (BetMGM), and Neil Montgomery (Montgomery & Associados).
The debate promises a deep dive into licensing challenges, the unique profile of Brazilian consumers, and the importance of localized strategies to build strong brands in a market that remains hot and in search of professionalization.
GMB - The panel’s theme suggests that Brazil’s betting market continues to grow with no signs of slowing down. In your view, what is still driving such strong momentum in Brazil?
Leonardo Baptista - Brazil offers very unique conditions for the sector’s growth: a huge domestic market, a young and tech-savvy population, and above all, a deep passion for sports.
Additionally, the transition to regulation has brought more visibility to the segment, attracting major brands and speeding up formalization. There’s still significant room to grow, especially as operators adapt to the new legislation and consumers gain more clarity and confidence in the betting journey.
What key insights will you highlight about the early stages of sports betting regulation in Brazil?
The main lesson is that regulation has acted as a necessary filter. Today, only those truly committed to operating responsibly and within the law remain in the market.
This has led to a positive wave of consolidation, where transparency has become a central asset. It's also clear that adapting to this new reality requires agility, tech know-how, and deep familiarity with Brazilian law — qualities that not all international players were ready for from day one.
Do you believe the sector is experiencing a bubble or going through a natural maturation of a young, promising market?
What we’re seeing is a natural maturation process. For a long time, the market operated in a gray area, without clear rules. Now, with regulation in place, serious operators are staying while opportunists are exiting.
Growth is becoming more structured, with greater responsibility and focus on compliance. Regulation helps attract investment, enhances the user experience, and makes the environment more predictable. Brazil has everything it takes to become one of the world’s largest regulated markets — this is part of a learning curve, not a temporary hype.
How has Pay4Fun navigated this transition toward formalization and the arrival of global players?
As a company already authorized by Brazil’s Central Bank, we were ready for this moment. The new legal framework didn’t require major changes to our operational model — in fact, it reinforced what we were already building in terms of compliance, security, and strong relationships with operators. We’re working closely with clients, especially those still adapting, by offering robust financial solutions, regulatory support, and fast integration with the local ecosystem.
What are the main challenges and opportunities Pay4Fun sees when supporting operators adapting to the new regulatory landscape?
One major challenge is the initial shock with the regulatory bureaucracy. Many operators enter Brazil with a different mindset and must understand how things work locally — from Central Bank requirements to the specifics of the Brazilian payment system, like Pix.
But therein lies the opportunity: we offer a ready-to-use, validated solution with direct integration into the national financial system. As providers of transactional accounts for these operators, we help streamline the process and accelerate their regulated operations.
Does Pay4Fun’s presence at international events like SBC Lisbon reflect a global expansion strategy?
Yes, attending events like SBC Lisbon is part of a clear international positioning strategy. We have a lot to share about the Brazilian market, which has become a global benchmark, and at the same time, we’re exploring opportunities in other regions also moving toward regulation. International expansion is definitely on our radar — but with a grounded approach. Right now, our focus remains on consolidating our leadership in Brazil, which is already a market of global scale in itself.
The panel also suggests that Brazilian consumers don’t respond well to European-style marketing. How important are localized strategies and influencer partnerships for brand success in Brazil? Is Pay4Fun investing in this approach as well?
Absolutely. Brazil is unique when it comes to digital behavior. The Brazilian consumer is highly connected, social-media savvy, and responds better to organic, authentic, and relatable content. That’s why influencer partnerships, content creators, and localized campaigns are essential.
Pay4Fun understands this well. We invest in close communication, educational campaigns, and actions that highlight not only our services but also the value of legal, safe operations. It’s not just about selling, it’s about building trust in a market that’s still finding its footing.
In your opinion, what are the next steps for Brazil to reach maturity in both operational and regulatory terms?
To achieve full maturity, Brazil needs three key pillars: effective enforcement, bettor education, and integration among industry stakeholders. It’s not enough to have laws on paper, we need to ensure that illegal sites are blocked, that financial institutions don’t work with unauthorized companies, and that violators face consequences.
At the same time, we must invest in public education, explain what a regulated operator is, what payout means, why documentation matters. And lastly, we need constant dialogue between regulators, operators, and payment providers. The market is growing, but it will only be sustainable if it’s built on responsibility.
Source: Exclusive GMB
