Interviews
The convergence of gambling and video gaming – better together?
An increasing number of industry titans in recent years have moved into video games and many video game outfits have turned their eye to offering ‘gambling’ elements within games. With these moves and the rise of social/mobile gaming bringing these industries closer to traditional gambling and igaming, what is there to be learned from this growing convergence? Andy Sekula, Head of Games at Kalamba and Vladimir Malakchi, CCO at Evoplay offer their thoughts.
Has the global video game boom influenced the design and development of today’s games? Gamification has been a focus for iGaming developers for some time, has this been driven by the rise in video game popularity?
Andy Sekula: There has been a lot of work invested in video game development over the years in regards to all sorts of progression and collection mechanics, with the ultimate goal being to reward players for specific behaviours. The primary goal for that industry is essentially the same as ours – to entertain and engage – and to that end, we can learn from video games just as we can from other products and services that compete for leisure spend such as movie streaming platforms like Netflix.
While the nature of certain AAA video games is sometimes significantly larger in scope – think Grand Theft Auto, for example – the same principles of attracting, engaging and retaining players remains and is in a sense more difficult for iGaming studios as we have to pack the same amount of involvement into a product that is smaller in scale and by nature is shorter in terms of average playing sessions. Despite this, many slots are now a world apart from what was produced 10 or even five years ago and highlight the creative talent our industry possesses.
Vladimir Malkachi: When it comes to popular culture, the video game industry is no doubt one of the most influential verticals, especially gambling, as both gaming and gambling belong to the same concept of entertainment, where audiences from both worlds intersect with each other. After all – the convergence is obvious – both video game and casino players seek the same goals – fun and gaming. However, those who choose gambling games also want to experience the thrill of betting, which offers a whole new dimension.
From a technological point of view, iGaming companies continue to follow the video game industry and adopt their solutions, such as development, game engines, features, graphics, and sound to create an experience similar to the one seen in the video game world. Casino and video game developers also take a similar approach to storylines – they search for innovative, creative, and exciting themes that can provide a fresh and immersive experience to players. iGaming has also inherited the trend of in-game purchases, such as shops and loot boxes, a vivid example of this is the bonus buy feature you see in several casino titles these days – which again shows how much the verticals are converging.
In general, the video game industry is a trendsetter and a source of ideas and inspiration to those within the iGaming space. It attracts both Millennials and Gen Z players, who share many audiences and demographics with many gambling brands.
Licensed games, chosen correctly, can be valuable investments for studios. We have already seen classic video game IPs feature in some slot titles in the past – is this something that can be leveraged further? Must it be something more than just window dressing?
AS: This is quite a tricky thing to do well and there haven’t been too many successful examples of IPs moving from the video gaming world to slot games. Whether this relative lack of success so far is the reason why it hasn’t been leveraged more, I’m not sure.
Done right, I can see some potential in classic universal IPs like PacMan or Donkey Kong but for more modern brands such as the likes of Pokemon, you wouldn’t see it appear in slots until it’s not resonating with a younger audience anymore and when the generations that played the original game are old enough to play video slots, such as with Space Invaders or Street Fighter II.
VM: It’s always exciting when the audiences of two popular brands merge together into one type of entertainment – especially when it comes to something from the wider cultural world being integrated into iGaming.
As well as attracting wider audiences from the outside world, it certainly benefits game providers, giving them a larger media presence and in turn creating wider interest from the outside world, which is especially beneficial if you’re a listed company and as a consequence, as it can directly affect your company’s profitability and volume.
However, alongside the benefits that can be achieved by securing brand rights with third parties, we do need to take costs into account. The average royalty to be paid off to the contractor is 3-15% of the GGR, with joint approval needed from both sides, which can certainly affect the potential for a partnership, and indeed the bottom line.
Saying this though, the benefits usually outweigh the costs, and I’m sure we will see more deals of this type in the future, but considering everything mentioned above, it might not be for everyone, especially those who are just entering and establishing themselves on the market. The key, as always, is identifying your audience and followers and creating a gaming experience that resonates with their values.
Betting on people playing games (esports) has for some time proven hugely successful. What impact has this had and could have going forward, on traditional gambling as a whole?
AS: Betting on outcomes, as we’ve seen with traditional sports betting, has been around long before esports (or even electricity!) appeared, but now it’s established, esports is an ideal focus for sportsbooks since there’s a lot of both skill and luck (randomness) involved – so its a perfect vehicle for evolving the betting industry. I think given the different demographic that we see watching and being involved with esports, there’s the prospect of opening up igaming and betting industry offerings. This would mean the emergence of a whole new sector of players/bettors and consequently the potential for new styles of games/experiences to suit. It will be interesting to watch it evolve.
VM: Without a doubt, the implementation of gaming-inspired features into casino products can significantly expand what’s on offer, and as a consequence, attract new players. This is especially the case when it comes to the spirit of fixed odds and sports betting, and when incorporated into gaming titles, can help go a long way to reaching sports betting fans who might want to give gaming a try.
In our view, instant games are among the best examples of how this approach can be carried out. Players can choose types of bets, which provides them with a gambling experience similar to betting on sports, which in turn makes them feel right at home without any major learning curve required to start playing a game.
The value of such products was analysed heavily during 2020 when sports events were canceled, and bettors needed to find a substitution for the hobby they used to entertain themselves with. Subsequently the adoption of betting mechanics in casino games’ introduced casino brands to the sports betting market and simultaneously covered its audience’s demand – we’ve seen the success it has had during the last two years, and there’s no reason for that not to continue even with sports back, as we are entering a new era of gaming where such transitions are far easier than before.
A recent study declared that video gamers are up to 4.5 times more likely to participate in betting and igaming. How can this new demographic of potential players be best approached?
AS: To some extent, this could be two things: being literate with technology and already being introduced to the concept of gambling (like gatcha boxes) and competition (leaderboards) that they have already been exposed to and are experienced in. Or maybe it’s more about the preference for electronic entertainment (deemed the ‘spiritual opium’ by Beijing regulators). Either way, it’s another sector of players for us to understand and to do our best to accommodate.
VM: As we’ve mentioned, there’s plenty of intersection when it comes to audiences and demographics, as at the end of the day, all users are after one thing – entertainment. This means that everything starts with a product that can both encompass and be adapted to players’ usual patterns of expectations for the gaming experience. It is evident that both video gamers and sports betting fans have their own preference – gamers especially look for a storyline, strong characters, and a clearly-defined challenge – while sports bettors will always gravitate towards ‘live events’ and the thrill of taking on the ‘house’.
In line with this – when robust analytics of audiences and demographics are applied, companies can learn where users can be found and the methods behind attracting them through specific messaging and themes. This requires analytics-based marketing, as well as creative and technological solutions, which will of course vary across product type and the desired outcome.
Online, social gaming is a place where many gamers meet up, forge friendships and communities – to what extent can this be mirrored within igaming?
AS: Basically, a brick and mortar casino creates an environment where players can gamble in a social setting, which additionally reinforces many emotions. This can be, to some extent, recreated within the live casino vertical, where people chat and bet on the outcomes of the casino games and their variations in real-time. We can also see some efforts being made in order to make slot games more of a social experience, where people can not only watch and chat with the streamer but can also bet with them. There’s great potential for experiences like this to be developed.
VM: Socialisation is an established concept in the video game industry, where multiplayer gaming has almost become a must-have offering and certainly has become an event that players expect when certain games are released. A wide variety of platforms designed for communication between players is key to making this happen – with forums, chats, and online communities allowing gamers to interact with each other.
Steam set the trend for socialisation in the gaming vertical, providing an opportunity for players to discuss games, share their opinions and give recommendations. Twitch has continued this trend, as well as attracting gambling streamers, once again demonstrating how the two audiences often intersect. The content on Twitch attracted fans of casino games, which gave rise to the communication between gamblers.
Today, the social aspect of gambling continues to grow, which will no doubt continue to see growth continue given the demand. The pandemic and insufficient levels of communication due to lockdowns have only enhanced the demand for socialisation within iGaming, as it’s become quite apparent that modern players seek to exchange their playing experience.
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La expansión global de los mercados de predicción está comenzando a redefinir la forma en que los usuarios interactúan con la información, la probabilidad y el engagement digital.
Ubicadas en la intersección entre finanzas, tecnología y datos de comportamiento, estas plataformas están ganando tracción como una forma estructurada de transformar la inteligencia colectiva en pronósticos medibles sobre eventos futuros.
En Brasil, este segmento emergente aún se encuentra en una etapa inicial, pero la combinación de una audiencia digital altamente comprometida, la reciente evolución regulatoria en sectores adyacentes como fintech y cripto, y la búsqueda constante de nuevos modelos de engagement dentro del iGaming, crea un entorno fértil para el crecimiento.
Es en este contexto que VoxFi se posiciona como uno de los primeros actores estructurados dentro del ecosistema local.
La semana pasada, durante BiS SiGMA South America 2026 en São Paulo, la empresa presentó oficialmente su solución white label, diseñada para permitir que terceros integren mercados de predicción directamente en sus propios sitios web y aplicaciones.
VoxFi también participó en el panel “Forecasting or Gambling? The Fine Line Between Prediction Markets and Bets”, donde el CEO y cofundador Fernando Carvalho analizó los límites entre los modelos de predicción emergentes y las estructuras tradicionales de apuestas.
Además, la compañía fue seleccionada como una de las seis finalistas del Startup Pitch Competition del evento, reforzando su posicionamiento como un actor innovador en el sector.
La empresa, una plataforma brasileña enfocada en contratos de predicción basados en eventos, ha desarrollado una solución white label que permite a otras compañías integrar mercados de predicción directamente en sus propios entornos digitales.
A través de conectividad vía API, empresas de distintos sectores, desde medios y entretenimiento hasta telecomunicaciones, pueden ofrecer experiencias de predicción personalizadas bajo su propia marca, aprovechando la infraestructura, el marco de compliance y los mecanismos de liquidez de VoxFi.
A diferencia de los modelos tradicionales de apuestas, VoxFi opera bajo una lógica peer to peer, donde los usuarios negocian contratos binarios, sí o no, basados en resultados futuros.
El precio de estos contratos refleja probabilidades percibidas, creando un entorno dinámico que se asemeja más a los mercados financieros que a las estructuras de juego convencionales.
Todos los mercados pasan por un proceso interno de curaduría y validación, con criterios de resolución claramente definidos, estándares de compliance y sistemas de monitoreo.
La plataforma también incorpora prácticas del mercado financiero como KYC obligatorio, monitoreo de transacciones y segregación de cuentas por evento, reforzando su posicionamiento como un ecosistema estructurado y responsable.
Fundada por Fernando Carvalho, conocido por su rol en el desarrollo del mercado de criptoactivos en Brasil a través de QR Capital, y Luis Felipe Carvalho, emprendedor fintech detrás de NG.CASH, VoxFi combina experiencia en innovación financiera con un producto diseñado para escalar y alinearse con la regulación.
En esta entrevista exclusiva, el CEO Fernando Carvalho explica las razones detrás de su entrada en un segmento aún poco comprendido, el posicionamiento estratégico de VoxFi y lo que viene para los mercados de predicción en Brasil.
El mercado de predicción aún no es ampliamente comprendido en Brasil. ¿Qué los llevó a apostar por este sector?
Fernando Carvalho – Elegimos construir VoxFi porque los mercados de predicción son una de las formas más eficientes de transformar información dispersa en probabilidades sobre el futuro.
Agregan conocimiento colectivo de manera estructurada y transparente.
Observamos avances regulatorios importantes en Estados Unidos entre 2024 y 2025, lo que indicó que este modelo comenzaría a escalar globalmente.
Vimos un escenario similar al inicio del mercado cripto, un sector nuevo que requiere educación, gobernanza sólida y desarrollo gradual para alcanzar escala.
¿Dónde está la línea entre mercados de predicción y apuestas?
La diferencia es estructural. En los mercados de predicción, los usuarios negocian entre sí a través de un libro de órdenes y los precios reflejan probabilidades percibidas.
En las apuestas tradicionales, existe una casa que define las cuotas y asume el riesgo. Aquí no hay casa, hay mercado.
VoxFi entra con un enfoque B2B. ¿Qué oportunidad identificaron?
El iGaming está atravesando una transformación en Brasil y los operadores buscan nuevas formas de engagement.
Nuestra solución permite integrar mercados de predicción como una capa adicional de contenido vía API, mientras los socios mantienen su identidad de marca.
¿Compiten con operadores de apuestas?
No. Complementamos el ecosistema. Evitamos deliberadamente temas deportivos para no competir directamente y ampliar el abanico de contenidos.
¿Brasil está atrasado en este segmento?
No. Está en una etapa inicial, pero con características ideales, una audiencia digital altamente comprometida y una creciente familiaridad con instrumentos financieros más sofisticados.
¿Cómo funciona el modelo de ingresos?
Es similar al de plataformas de trading, cobramos comisiones sobre transacciones o sobre la liquidación de contratos.
En el modelo B2B también generamos ingresos a través de fees de implementación y acuerdos de revenue share. Es un modelo altamente escalable.
¿Quiénes son los principales interesados hoy?
Hay tres grupos principales, operadores de iGaming, empresas de medios y entretenimiento, y plataformas digitales con grandes audiencias.
¿Cómo se construye liquidez en un mercado nuevo?
Inicialmente mediante un market maker interno para garantizar condiciones eficientes de negociación. Al mismo tiempo, estamos desarrollando infraestructura para integrar market makers externos a medida que el ecosistema crece.
¿Por qué evitar temas como deportes y elecciones?
Es una decisión estratégica para alinearnos con la regulación actual y evitar conflictos con organismos como CVM, SPA y TSE.
¿Brasil está cerca de regular los mercados de predicción?
La discusión recién está comenzando a tomar fuerza. El principal riesgo es una clasificación incorrecta como apuestas tradicionales o como derivados financieros.
¿Qué define el éxito en los próximos seis meses?
El crecimiento de la base de usuarios, el volumen negociado y la activación de integraciones white label con socios estratégicos.
A futuro, ¿será un complemento del iGaming o una categoría propia?
En el corto plazo lo vemos como un complemento natural del iGaming, agregando nuevas capas de contenido y engagement.
A largo plazo, creemos que puede convertirse en una categoría digital propia, una nueva capa de internet enfocada en la predicción de eventos futuros.
The post Fernando Carvalho define una nueva era para los mercados de predicción en Brasil con VoxFi appeared first on Americas iGaming & Sports Betting News.
Brazil
Fernando Carvalho outlines new era for prediction markets in Brazil with VoxFi white label technology
The global expansion of prediction markets is beginning to reshape how users interact with information, probability, and digital engagement.
Positioned at the intersection of finance, technology, and behavioral data, these platforms are gaining traction as a structured way to transform collective intelligence into measurable forecasts about future events.
In Brazil, this emerging segment is still in its early stages, but the combination of a highly engaged digital audience, recent regulatory evolution in adjacent sectors such as fintech and crypto, and the constant search for new engagement models within iGaming creates a fertile environment for growth.
It is within this context that VoxFi is positioning itself as one of the first structured players in the local ecosystem.
Last week, during BiS SiGMA South America 2026 in São Paulo, the company officially presented its white-label solution, designed to allow third-party businesses to integrate prediction markets directly into their own websites and applications.
VoxFi also took part in the panel “Forecasting or Gambling? The Fine Line Between Prediction Markets and Bets,” where CEO and co-founder Fernando Carvalho discussed the boundaries between emerging prediction models and traditional betting structures.
In addition, the company was selected as one of the six finalists in the event’s Startup Pitch Competition, reinforcing its positioning as an innovative player in the space.
The company, a Brazilian platform focused on event-based prediction contracts, has introduced a white-label solution that allows third-party companies to integrate prediction markets directly into their own digital environments.
Through API connectivity, businesses across sectors, from media and entertainment to telecom, can offer customized prediction experiences under their own branding, leveraging VoxFi’s infrastructure, compliance framework, and liquidity mechanisms.
Unlike traditional betting models, VoxFi operates on a peer-to-peer logic, where users trade binary contracts (“yes” or “no”) based on future outcomes.
The pricing of these contracts reflects perceived probabilities, creating a dynamic environment that resembles financial markets more than conventional gambling structures.
All markets undergo internal curation and validation, with clearly defined resolution criteria, compliance standards, and monitoring systems.
The platform also incorporates financial-market practices such as mandatory KYC, transaction monitoring, and event-based account segregation, reinforcing its positioning as a structured and responsible ecosystem.
Founded by Fernando Carvalho, known for his role in advancing the crypto asset market in Brazil through QR Capital, and Luis Felipe Carvalho, a fintech entrepreneur behind NG.CASH, VoxFi combines experience in financial innovation with a product designed for scalability and regulatory alignment.
In this exclusive interview, CEO Fernando Carvalho explains the rationale behind entering a still-misunderstood segment, the strategic positioning of VoxFi, and what lies ahead for prediction markets in Brazil.
The prediction market is still not widely understood in Brazil. What led you to invest in this sector?
Fernando Carvalho – We chose to build VoxFi because prediction markets are one of the most efficient ways to transform dispersed information into probabilities about the future.
They aggregate collective knowledge in a structured and transparent way. We observed important regulatory developments in the United States between 2024 and 2025, which indicated that this model would begin to scale globally.
We saw a scenario similar to the early days of the crypto market: a new sector that requires education, strong governance, and gradual development to reach scale.
Where is the line between prediction markets and betting?
The difference is structural. In prediction markets, users trade with each other through an order book, and prices reflect perceived probabilities.
In traditional betting, there is a house that sets the odds and assumes the risk. Here, there is no “house” — there is a market.
VoxFi enters with a B2B approach. What opportunity did you identify?
iGaming is undergoing a transformation in Brazil, and operators are looking for new ways to engage users.
Our solution allows prediction markets to be integrated as an additional content layer via API, while partners maintain their own brand identity.
Do you compete with betting operators?
No. We complement the ecosystem. We deliberately avoid sports-related topics to prevent direct competition and instead expand the range of available content.
Is Brazil behind in this segment?
No. It is in an early stage, but with ideal characteristics: a highly engaged digital audience and increasing familiarity with more sophisticated financial instruments.
How does your revenue model work?
It is similar to trading platforms: we charge fees on transactions or on contract settlement. In the B2B model, we also generate revenue through setup fees and revenue-sharing agreements. It is a highly scalable model.
Who are the main players interested in this today?
There are three main groups: iGaming operators, media and entertainment companies, and digital platforms with large audiences.
How do you build liquidity in a new market?
Initially, through an internal market maker to ensure efficient trading conditions. At the same time, we are developing infrastructure to integrate external market makers as the ecosystem grows.
Why avoid topics like sports and elections?
This is a strategic decision to align with current regulations and avoid conflicts with authorities such as CVM, SPA, and TSE.
Is Brazil close to regulating prediction markets?
The discussion is just beginning to gain traction. The main risk is being incorrectly classified as either traditional betting or financial drivatives.
What defines success in the next six months?
Growth in user base, trading volume, and the activation of white-label integrations with strategic partners.
Looking ahead, will this be a complement to iGaming or a standalone category?
In the short term, we see prediction markets as a natural complement to iGaming, adding new layers of content and engagement. In the long term, we believe they can become a standalone digital category, a new layer of the internet focused on forecasting future events.
The post Fernando Carvalho outlines new era for prediction markets in Brazil with VoxFi white label technology appeared first on Americas iGaming & Sports Betting News.
We sat down with Tequity’s VP Growth Originals, Dominic Sawyer, to discuss how the industry is evolving to meet the unique appetites of Brazilian players and how technical scaling is the secret weapon for ambitious studios.
Brazil is now well over a year into its regulated era. How has the focus shifted for operators who are looking beyond that initial launch phase?
The first year was about land grabs and establishing a footprint. In 2026, the conversation is much more grounded in operational efficiency and the cost of player acquisition. Brazil is a massive market, but it is also an expensive one. If an operator is spending a premium to bring a player through the door, losing them to a generic, uninspired lobby is a massive waste of resources.
The focus has shifted heavily toward retention. We are seeing operators move away from the volume at all costs approach and towards building a brand-based ecosystem. This is where bespoke content comes in. By using our Originals framework, operators can create games that feel like a native part of their platform. This builds a sense of familiarity and trust. In a regulated market, player loyalty is the only thing that can protect your margins against evolving tax frameworks and marketing restrictions.
We know Brazilian players have a deep-seated love for sports. How is this influencing the types of casino games that are succeeding in the market?
The crossover between sports betting and casino in Brazil is perhaps more pronounced than anywhere else. Brazilian players crave high-energy, high-frequency interaction. They want the tension of a live match translated into a casino format. This is why we have seen such an explosion in the popularity of ‘burst games’ and instant-win titles.
Our product roadmap is heavily influenced by this desire for real-time excitement. Our Crypto Trading Games range, for instance, resonates because it mimics the volatility and decision-making of a live market or a high-stakes football bet. Features like 1,000x leverage and the ability to manage multiple active bets simultaneously provide a level of agency that traditional slots often lack. With the World Cup on the horizon, we expect this appetite for sports-adjacent casino content to reach a fever pitch. Operators who can bridge that gap effectively will see the highest levels of cross-vertical engagement.
With so many international brands entering Brazil, how can an operator ensure their content doesn’t just look like a translated version of a European site?
Laziness in localization is a fast track to irrelevance. A player in São Paulo isn’t looking for a translated UK slot, but a game that feels like part of the local culture. True differentiation involves cultural alignment, brand recall, and a pacing of gameplay that matches local preferences.
We believe in providing a modular approach that hands the creative keys back to the operator. This allows them to tailor visual treatments and UI to reflect local festivals, brand ambassadors, or specific colour palettes. When a game feels like it was built for the Brazilian market rather than just adapted for it, the player connection is significantly stronger. You want your content to feel like part of the local furniture, reinforcing the operator’s brand identity at every turn.
Innovation is high, but technical barriers often slow things down. How is Tequity helping studios scale faster to bring high-quality games to the Brazilian market?
There is no shortage of brilliant creative ideas in the industry, but there is often a massive technical bottleneck when it comes to global distribution and compliance. For an ambitious studio, the prospect of navigating the specific regulatory requirements of Brazil while trying to build a global presence is daunting.
This is exactly why we launched Tequity Publishing. We want to dismantle those technical barriers. Through our RGSaaS (Remote Game Server as a Service) model, we provide the infrastructure, distribution muscle, and compliance frameworks that allow studios to focus entirely on the creative side. Whether it’s a small studio with a fresh concept or a more established provider looking to plug into our aggregator network, we provide the pathway to the player. By removing the operational friction, we ensure that high-quality, innovative content can hit the market at the speed the industry demands.
The industry is increasingly streamer-driven. How are suppliers ensuring games are stream-ready for the influencers who currently dominate Brazilian social feeds?
Social media is the new storefront in Brazil. The traditional casino lobby is being bypassed in favour of TikTok, Twitch, and Telegram feeds. If a game isn’t visually engaging or doesn’t provide natural clipping moments, it’s missing a massive trick. Successful suppliers are engineering content to be inherently shareable, creating a narrative that is easy for a streamer’s audience to follow. When an influencer shares a high-multiplier win, it creates an organic marketing event that is far more effective than a standard banner ad. It’s about providing the tools for operators to lower their acquisition costs by creating content that players want to emulate and share.
The post Mastering the Brazilian maturity curve appeared first on Americas iGaming & Sports Betting News.
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