As brands dive into this new territory how can they better understand local culture, media consumption trends and marketing strategies - can they establish localisation while maintaining their brand identity?

Speakers that participated in this conference were:

Cecilia López Boronat, Chief Communications Officer, Lottofy,

Andreas Bardun, CEO, KTO Group

Alexandre Fonseca, CEO Brazil, Superbet

Maxim Tsaryk, Head of Brazil, GROWE (Parimatch brand franchisee)

MODERATOR: Jon Moss, Director, 34 Consulting Ltd

One of the main issues treated in the panel has been the consumer protection rights in Brazil once it becomes a regulated market. The panel agreed that this will be something to be discussed later on and that it will have to be made with the support of the regulator to give operators the legal assurance that they can operate without having to deal with thousands of lawsuits.

The moderator asked about the biggest challenges for companies in the new regulated regime.

“The thing that worries me the most is that it is probably the only market in the world when you will have pre-applied more than 140 operators in the country. That's unique and it makes me very excited about the future and how the product, the marketing will change in the nearest future,” said Andreas Bardun.

Then, Alex Fonseca talked about the key challenges the company had to face on entering the Brazilian market and remarked the importance of a good product localization to win in this market. 

 "When it comes down to product localization doesn't come just about translation, but also the coverage you give n your markets and how deep you understand the Brazilian sports. We have a country with more than 1000 football matches played per year, which is not so something common around the world. So you need to actually have a deep coverage of fast payment methods”.

He then talked about the big volume of the Brazilian market compared to Europe. “If you come to Brazil, we're going to find 500,000 concrete customers in your product.”

Andreas Bardun talked about KTO experience in Brazil, which has been operating in the country since 2019. He remarked that the company focused on the importance of the Brazilian market and the Brazilian football. “It has been a challenge trying to work to be more localized with the Brazilian market, and that was the opportunity that we saw. That was the reason we entered and I think that's one of the reasons we've been quite successful in the market”.

Maxim Tsaryk commented on the customer’s profile: “It is probably the market with the highest competition now globally. We need to fight for every customer. We need to find the way how to attract them on the platform. We know for sure that they don't use just one platform. They compare the odds, they, they compare the bonuses and they make decision which platform to use for certain matches based on emotions and at the very right moment when the match will start. So the competition is the biggest challenge and in the end it will drive the best experience for the customers and it'll might bring lower margin for the business, but this is the reality that we need to face. And obviously everyone's in this panel is ready for that.”

Besides, Cecilia López Boronat agreed that the Brazilian market is very specific. “They really like their own lotteries. I mean, lottery has a really big tradition in Brazil already”. She added that there is a lot of opportunity still to grow in the lottery market in Brazil, however, she remarked that it is very important to work closely with affiliates, with local brands, with local partners to really be focused on localizing on what the Brazilian market really wants.

“It's really important to understand them and it's not just doing branding with Brazilian people and Brazilian colors. You have to be there, understand them, and you have to work together with partners here to make the public notice that you have something else, something different to offer them that they can't find here.”

“I think that the key in the Brazilian market is confidence. Trust is really important. They really like to search for different offers, it's not a fast-buying decision. I mean they invest a lot of time searching different offers. And the main key is to be able to arrive here and make yourself a name is that they can trust you”, she pointed out.