"Superbet is trying to make a significant entry into the world of entertainment. This experience stirs the same emotions as winning a certain bet or watching your favorite sport," said the company's CEO, Alexandre Fonseca.
The executive describes entering music festivals as brand positioning. "The goal is for you to go to Rock in Rio, receive a Superbet gift, and three months later, look at that gift at home and remember watching your favorite artist with your friends."
Responsible for managing Betano's rise to the top tier of the Brazilian betting market, Fonseca now wants to do the same with Superbet. "We are in Brazil to achieve market leadership. It's an extremely ambitious goal, but achievable in three to five years of market operation," he added.
The company has been operating in the country since the final months of 2023. It decided to enter Brazil upon realizing that the market here was on the verge of being regulated – last week, the Secretariat of Prizes and Betting of the Ministry of Finance published the ordinance with the requirements and deadlines for betting companies to obtain authorization for the commercial exploitation of sports betting.
Betting companies that were already operating in Brazil in December of last year, when the law that initiated sector regulation came into effect, have until the end of 2024 to comply with the norms and pay the R$ 30 million (US$ 6m) grant. Starting in 2025, the Ministry of Finance will apply penalties to companies that have not regularized.
"Today, it is estimated that Brazil has around 20,000,000 active bettors annually. This means that, per year, 10% of the population engages in some type of betting, whether casino or sports betting," said the CEO of Superbet.
Fonseca assesses that the competitive environment of betting in Brazil is still "dynamic," with variation in the market's podium positions.
"A properly regulated market reaches a consolidation phase five to eight years after regulation, and the number can reach 28% of the population. By 2032, the Brazilian market could almost triple," he concluded.
Source: GMB
