Rei do Pitaco (RDP), the largest daily fantasy sports (DFS) provider in Brazil, has linked with Kambi for the development of a betting platform.
Kambi will utilise its technology and services to launch a real-money online sportsbook for RDP, ahead of anticipated regulation of the Brazilian wagering market which is projected to generate $3.4bn by 2027, according to H2 Gambling Capital.
This will include the Swedish B2B supplier’s customisable technology and suite of APIs and differential tools, with the objective of creating a ‘highly localised product’ for Brazilian players – something panellists at SBC events have underscored as crucial for success in Latin America.
Kristian Nylén, Kambi CEO and Co-Founder, said: “Brazil has the potential to become one of the world’s largest regulated sports betting markets. I am delighted Kambi has partnered with Rei do Pitaco, a company which I believe is uniquely positioned to gain a strong position in the country.
“The talented people behind Rei do Pitaco have exciting and ambitious plans, so this agreement is a testament to the strength and flexibility of our sportsbook technology to be able to support those aims and enhances our position as the leading sportsbook partner in Latin America and across the world.”
Kambi and RDP expect the launch of the latter’s sportsbook to find success due to the company’s brand image in Brazil as a provider of popular fantasy football products.
As it stands, RDP’s mobile app has been downloaded 13.6 million times since it went live in 2019, and the firm hopes to capitalise on the eagerly-awaited regulation of Brazilian sports betting.
In support of its growth ambitions and sportsbook expansion plans, RDP has secured venture capital, including investments from Nigel Eccles – the FanDuel Co-Founder assumed the role as Chair of the DFS platform last year.
Brazil currently stands at a crossroads on its journey towards fully regulated betting. Although the move is widely popular, inaction by President Jair Bolsonaro meant that the legislative deadline of 12 December was missed.
Mateus Dantas, RDP CEO and Co-Founder, added: “We are pleased to have agreed this exciting sports betting partnership with Kambi. Through this new operation, we are confident of delivering a market-leading online sportsbook to our fast-growing customer database which will have access to an excellent and safe user experience on our platform.”