Established in 2019, Rei do Pitaco has cultivated a substantial user base, positioning itself favorably for Brazil's newly regulated sports betting landscape, which commenced on January 1, 2025.
In 2022, the company partnered with Kambi to develop its online sportsbook, a collaboration that was extended in October 2024 in preparation for the regulatory changes.
CEO Kiko Augusto emphasizes that while Rei do Pitaco has taken cues from FanDuel and DraftKings, their approach is tailored to the unique preferences of Brazilian users.
Recognizing the challenges faced by other companies attempting to replicate the U.S. model in Brazil, he states, "We understood the behavior of the fantasy fans and we decided to build a product from scratch based on Brazilians."
The executive acknowledges that the advantage enjoyed by U.S. operators transitioning from DFS to sports betting was significant due to the absence of a prior legal market.
In contrast, Brazil had a grey market before regulation, making the transition less pronounced. Nevertheless, he believes that Rei do Pitaco's existing user base provides a substantial edge in the regulated environment.
Focusing on product quality and localization, Rei do Pitaco aims to become an integral part of the sports viewing experience in Brazil.
Augusto envisions the platform as a "second screen" for bettors, enhancing their engagement during live sports events. He asserts, "If we really are the best product in the market, I think market share is just a matter of time."
Competing against international giants like Betsson and MGM, Rei do Pitaco adopts a strategy centered on innovation rather than financial outlay. Augusto notes, "We’re going to outsmart competitors, not outspend them." This approach leverages their deep understanding of the local market to offer a uniquely Brazilian sports betting experience.
In summary, Rei do Pitaco's evolution from a DFS platform to a sports betting operator reflects a strategic adaptation of successful international models, customized to meet the distinct needs of the Brazilian market.
By emphasizing localization, product excellence, and strategic partnerships, the company aims to establish a significant presence in Brazil's regulated sports betting industry.
Source: GMB
