GMB - How is Betfast.io's operation in Brazil going?
Paulo Joanello - The operation in Brazil has now completed three years, and we are awaiting the country’s new regulations. Recently, the decree was issued, opening the possibility for us to apply for authorization in Brazil. We are eager and waiting to work with the Brazilian license rather than with foreign licenses, as we do today.
Considering everything that has been said about regulation, is Betfast.io already prepared?
Yes. We have been waiting for another year, so our legal team is present through ANJL (National Association of Games and Lotteries) in Brasília. We are very well advised and informed, and we are waiting for the final rules. So, yes, the answer is yes, we are prepared. We have spent these last three years preparing precisely for this moment.
From a technical standpoint, is everything in place?
We use the technology of a European company, so we believe that since they operate in all regulated markets worldwide, it won’t be difficult for us to adapt to Brazil’s rules. The final rules are still pending, but when we are operating under the new rules, I will confirm if everything is in place, but I believe it will be fine and not a major problem.
Aside from the license application, what are Betfast.io’s plans in Brazil?
Continue growing, and I believe that with the new regulation, the number of players will increase. Many of the costs we have in operations should decrease, and our goal is to continue expanding within the regulated market and see it established. I am sure that we will become the second-largest market in the world, as surpassing India will be very difficult.
We have a large population passionate about gaming, and this will allow us, in less than two years, to become the second-largest market in the world. Our goal is for Betfast.io to be present and for us to keep growing month by month, as we have been doing for the last three years.
How has the work been to attract more users to the site and relations with affiliates?
With affiliates, it is always through relationships. The market is very heated, and the values are very high. We always seek to provide the greatest transparency to affiliates and show the true numbers transparently through reliable systems, seeking the best possible deals for them and us. Our keywords are transparency and trust.
With affiliates, it will be a work of re-education, as there are several rules involving advertising and responsible gaming. Are they ready for this new moment?
Yes, today our governance process at Betfast.io requires a series of things, including invoices. And with the new CNAE (National Classification of Economic Activities), the internal process will be done this way, and all payments will follow the rules and upon presentation of invoices, whereas today we have done them through invoices. We will just teach them and adapt them to the new CNAE.
Source: Exclusive GMB
