Charmaine Hogan, global head of government relations at Playtech; Hugo Baumgartner, chief business officer at Esportes da Sorte; Renato Silva Siqueira, CEO of CAIXA Lotteries; and Liliana Costa, LatAm liaison at Clarion Gaming, gathered at ICE Barcelona 2026 to assess Brazil’s newly regulated gambling market, just over a year after its January 2025 launch.
Panellists broadly agree the market has met, and in some areas exceeded, expectations in its first year. Despite the scale and complexity of the rollout, Brazil’s regulator is praised for being accessible, responsive and willing to engage with operators and suppliers during the early stages.
While licensing and compliance requirements were demanding, the high bar set at launch is considered supportive of long-term market sustainability.
Engagement seen as a major strength in a regulated market
Transitioning from grey-market activity to a fully regulated environment is still an ongoing process, especially in the area of channelisation.
However, both operators and suppliers highlighted the regulator and the SPA for maintaining open dialogue, issuing regulatory agendas and running consultations.
“So I think, for now, in my mind, the balance is there,” Hogan says, pointing to an approach that avoids over-regulation while prioritising player protection.
Brazil’s PIX payment system is also cited as a competitive and compliance advantage, enabling faster transactions, stronger player identification and clearer audit trails.
“Brazil has this bank transfer tool, which for us is a plus,” Baumgartner says, adding that PIX could also help authorities identify and disrupt illegal activity.
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Original article: https://igamingbusiness.com/igb-ice/brazil-regulated-market-starts-strong-gaps-remain
