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Fellipe Fraga, Chief Business Officer (CBO) of EstrelaBet, reflects on the regulatory and commercial interplays taking place within South America’s nascent igaming markets.
Ahead of the SBC Americas Summit, Fraga believes that South America can become a harmonised and interconnected market, providing the conditions for new giants to thrive against foreign competition…
SBC: Fellipe, great to gather your insights ahead of SBC Summit Americas. Put simply, why is 2025 such a make-or-break year for theLATAM sector?
Fellipe Fraga: This year is incredible and full of expectations, as it marks the first time the Brazilian market is regulated. In addition, other major markets like Peru and Mexico are still developing, improving, and maturing every day. So, for companies already established or those looking toward LatAm, the road of opportunities is vast.
SBC: As a Brazilian stakeholder, what are your thoughts on the first quarter of regulated activities of the Bets Market?
Fraga: These first months have been challenging, as all customer acquisition strategies have changed due to the new regulations, and various companies and marketing strategies are now live. However, the overall perception is positive—companies are doing their best, and together, as a sector, we are delivering a strong market for Brazilian players and a solid industry for the Brazilian people.
SBC: At the Americas Summit, you will be speaking on activating LATAM opportunities. Brazil has come into play, but is its framework applicable to other South American nations?
Fraga: What we’ve achieved in Brazil gives us the confidence to expand into any South American nation. Of course, there are cultural differences, and we fully respect that. So, when the time is right to hablar español, we’ll be ready to get closer to those communities, learn more about them, and showcase what we do: promote fun and entertainment through iGaming.
SBC: What regulatory learnings and best practices can be learnt from Brazil Bets frantic activation?
Fraga: Brazil offers two key lessons: First, it’s crucial to move quickly when it comes to regulation. The absence of regulation over the past five years created room for the black market, misleading advertising, and issues with sports integrity and player addiction—problems that could have been better managed or avoided with earlier regulation. Second, there’s no shame in studying other jurisdictions to adopt what works and avoid what doesn’t—and Brazil did that well. Our regulation will naturally need adjustments, but overall, the regulators’ efforts deserve recognition.
SBC: Outside of Brazil, which markets are you monitoring closely at EstrelaBet?
Fraga: The company has decided to focus on Brazil this year. We’re talking about a huge, continental country, and regulation requires attention and caution. We believe it’s best to get things right at home before looking abroad. That said, we’re keeping an open mind for other markets in the future.
SBC: As Latin American markets regulate, do you see any common ground for harmonisation in gambling laws, practices and standards – a factor neglected in Europe and North American markets.
Fraga: Other industries show us that creating common ground is possible—even among different countries. In today’s globalised world, initiatives like IBIA for sports integrity are great examples: companies from various nations collaborating on a shared concern—ensuring clean competition.
But first, countries need to mature individually. After that, governments, associations, and companies can come together to build something solid that protects consumers and fosters greater interactivity across borders.
Can South America develop its own local-born multi-market champions against increased competition from foreign operators? – How important is this dynamic?
Fraga: Absolutely. There are already several companies from Brazil, Argentina, Mexico, Colombia, and Peru doing exceptional work in their home markets and beginning to expand. These companies understand the local culture and people—an advantage when it comes to competition. I believe there’s a real possibility that a South American brand could emerge as a multi-market champion.
SBC: Finally, what knowledge do you think SBC Summit Americas attendees will gain about Latin American betting developments?
Fraga: SBC Summit Americas will provide not only the always valuable opportunity to discuss our region, but also greater integration with North American companies—allowing for the exchange of experiences and features that can drive innovation in both technology and marketing.
