The debate over banning online betting in Brazil is resurfacing at a sensitive moment in the public discourse, marked by simplistic solutions to complex issues.

In this article, Thiago Iusim, founder and CEO of Betshield Responsible Gaming, analyzes the parallels between the electronic cigarette market and the ‘Bets’ sector, highlighting how attempts to eliminate an activity by decree tend to push it into informality.

According to him, the Brazilian experience shows that prohibition does not eliminate markets — it merely reduces the State’s ability to control them and increases risks for consumers.

Brazil has seen this movie before.

There is a magic solution that always seems to return to public debate, especially in election season, whenever an issue becomes politically inconvenient: ban it.

The logic is seductive. In the political narrative, the issue disappears. In real life, it simply moves elsewhere.

E-cigarettes make that point painfully clear.

Vapes have never been authorized in Brazil. They have been officially banned since 2009. In theory, they should not exist. In practice, they are everywhere, sold through social media, messaging apps, marketplaces, street vendors, and small retail shops, with no sanitary controls, no effective oversight, and no real guarantee of origin.

Prohibition did not eliminate the market.

It only eliminated the possibility of surrounding that market with rules.

A recent CNN report on the surge in e-cigarette seizures helps show the scale of the problem. Brazil did not get rid of vapes. It simply pushed the market into an environment where the state lost the capacity to control it.

The state banned it. Organized crime applauded.

That experience helps explain the current debate around online betting in Brazil.

Bets existed long before Law 14,790/2023. For years, Brazil lived with an active market operating online and from abroad, with no local tax collection, no regulatory oversight, and no effective consumer protection tools.

The activity did not emerge because of the law. The law emerged because the activity already existed.

Regulation was the rational response. It was the way to bring an already existing market into a controllable framework, with licenses, concession fees, user identification, anti-money laundering requirements, advertising rules, and player protection mechanisms.

And yet, just eighteen months later, public debate is once again flirting with the same simplistic solution applied to vapes: the fantasy that prohibition would make the activity disappear.

By now, Brazil should know better.

In the case of betting, the country had chosen a different path: regulate in order to control. Protect consumers. Protect the broader economy.

To now return to prohibition as a response to a market that already exists would be more than a regulatory mistake.

It would be a historical contradiction.

Or perhaps simply the most comfortable expression of a certain kind of public moralism that would rather push an activity into the shadows than acknowledge its existence.

In political discourse, prohibition can sound like victory.

In practice, it often functions as morally comfortable packaging for rushed and politically convenient decisions.

This is nothing more than electoral fantasy. And this time, no one will be able to say they did not know how the story would end.

Thiago Iusim
Founder and CEO of Betshield Responsible Gaming

Backed by Grupo Silvio Santos, founded by Silvio Santos, the company aims to position itself as a platform that goes beyond traditional betting.

In an interview during BiS SiGMA South America, Fernando Justos Fischer, CEO of TQJ, detailed the company’s strategic pillars, the sector’s challenges and its long-term vision for the Brazilian market.

According to Fischer, the current moment is one of consolidation in the regulated market.

The expectation is that the sector will move toward more mature discussions, focusing on compliance, sustainability and user protection.

In this context, the event is seen as a strategic space for alignment between operators, regulators and partners, driving more structured growth.

TQJ’s strategy is based on three main pillars: strengthening brand and distribution by leveraging the group’s assets; a data-driven operation focused on efficient acquisition and sustainable retention; and responsible gaming as a core principle of the business.

All of this, according to the executive, is supported by technology and intelligence applied to the user experience.

The backing of Grupo Silvio Santos is highlighted as a key competitive advantage.

For Fischer, the combination of credibility, scale and expertise in entertainment allows TQJ to position itself as an accessible, trustworthy brand with a strong connection to the Brazilian audience.

The goal is to lead the market in trust and responsibility.

In a highly competitive environment, the company is focusing on integrating proprietary distribution, gamified experiences and the intensive use of data and artificial intelligence for personalization.

Fischer notes that competitive advantage will increasingly lie in retention, supported by advanced CRM, engagement mechanics and solid responsible gaming practices.

During the event, this positioning was also demonstrated in practice.

Bet do Milhão came to life in a live game show format, directly connecting entertainment and betting. The activation generated engagement and reinforced the company’s value proposition.

Among the main challenges in the Brazilian market, Fischer highlights the need to build a sustainable environment amid intense competition, as well as the importance of educating consumers and combating illegal operators.

He states that operators with discipline, governance and a long-term vision will have a competitive advantage.

In terms of responsible gaming, TQJ already implements tools such as deposit limits, self-exclusion, behavioral monitoring and active communication with users.

The company adopts a preventive and continuous approach that goes beyond regulatory compliance.

This monitoring is carried out through real-time behavioral analysis, enabling the identification of risk patterns and allowing for fast and precise interventions.

Fischer emphasizes that the company aims to go beyond regulatory requirements, viewing responsible gaming as both a competitive differentiator and an institutional commitment.

Artificial intelligence plays a central role in the operation. In marketing, it is used for campaign optimization, prediction and content generation.

In product, it supports the continuous evolution of the user experience. In security, it strengthens analysis and protection systems.

Additionally, AI enables deeper integration between entertainment and betting, creating more interactive and personalized experiences.

Features such as real-time personalization and gamified mechanics are already part of the company’s roadmap.

Even so, Fischer stresses that there is a clear limit when it comes to personalization: user protection. All strategies must operate within responsible parameters, without encouraging risky behavior.

In summary, the CEO defines TQJ’s role in this new phase of the market as a platform capable of connecting entertainment and betting in Brazil with responsibility, technology and trust.

The 2026 edition of SiGMA South America kicked off  today in São Paulo, bringing together some of the leading figures in the iGaming industry in Latin America.

The event takes place from April 6 to 9 at the Transamerica Expo Center, with a program spread across the Itaim, Jardins and Paulista stages.

Over three days, experts will address key topics for the current moment of the Brazilian market, such as regulation, sports integrity, responsible gambling and innovation in user experience.

Responsible gambling and mental health in focus

Among the highlights is the panel “Mental Health and Responsible Gambling: The Search for Solutions to the Invisible Challenge of the Gaming and Betting Market”, which proposes an integrated approach between regulation, mental health and public management.

Participants include Leandro Pamplona, partner and lawyer at BKP Advogados; Marcus Vinícius de Almeida, state deputy at the Legislative Assembly of Rio Grande do Sul; Cristiano Costa, CKO of EBAC – Brazilian Company for Support to Compulsivity; Daniel Romanowski, president of Lottopar; and Ana Bárbara Teixeira, Director of Government Relations and founder of ABRAJOGO/AMIG.

Pamplona states that the balance between protection and autonomy lies in “responsible freedom”.

“The operator cannot assume an absolute paternalistic position, but cannot be passive in the face of potentially problematic behaviors either”, he says.

According to him, the operator begins to exercise a delegated regulatory role, based on three pillars: clear information, mandatory preventive tools and effective monitoring.

Regarding Brazilian legislation, he believes there is already a relevant foundation, although still under consolidation.

“The integration of data between operators, regulators and the clinical field will be key to measuring the effectiveness of the rules”, he says.

“Brazil already has a relevant regulatory framework, but it is still in the process of practical consolidation. Until now, these issues were treated in isolation.

There is still no precise data to identify potential regulatory gaps.”

“Going forward, there will be integration of data between operators, regulators and the clinical or medical field. Based on this data, we will be able to verify the effectiveness or not of the current legislation.”

Sports integrity and real-time monitoring

The panel “Integrity on the Field: Preparing the Regulated Market for a World Cup of Safe Betting” brings together Felippe Marchetti, Director of Integrity Partnerships at Sportradar LATAM; André Megale, representative of SIGA Latin America; Michelle Ramalho, executive at the CBF; Carla Dualib, executive at SOFTSWISS; and Caio Porto Ferreira, representative of the Brazilian Federal Police and the STJD.

Marchetti explains that risk monitoring currently combines advanced technology and cooperation with operators.

“Tools based on artificial intelligence identify unusual betting volumes and significant deviations in odds, both in legal and illegal markets”, he says.

According to him, the detection of warning signals is based on a combination of advanced technology and cooperation with operators.

“Today we have tools such as the AI-based FDS, which monitors both legal and illegal markets and generates alerts when there is an unusual volume of bets or significant deviations between expected and actual odds”, he noted.

This type of system makes it possible to identify atypical patterns that may indicate potential manipulation risks.

Marchetti also highlighted the importance of information sharing with operators as a fundamental part of the integrity process.

“Another key indicator is when operators’ own risk teams detect suspicious behavior and share that information with us, allowing us to carry out a double verification of the markets”, he explained.

This is complemented by signals linked to the sports ecosystem itself.

“For example, when there is a concentration of athletes with a history of manipulation within the same team, this generates additional alerts and leads us to monitor the situation more closely”, he added.

Regarding collaboration between operators, sports entities and authorities, Marchetti stressed that the Brazilian scenario has evolved significantly following market regulation.

“Today Brazil is in a much more advanced position than in the pre-regulation period, starting with the legislation, which requires operators to maintain agreements with integrity entities”, he stated.

In this regard, he highlighted that Sportradar already works with dozens of regulated operators in the country, facilitating a constant flow of information on suspicious matches and atypical behavior.

This cooperation model also extends to public bodies and sports entities.

“We have agreements with regulatory authorities and work together with state federations, the CBF, CONMEBOL and other organizations, both in market monitoring and in educational initiatives”, he explained.

He also highlighted progress in building a national policy to combat match-fixing, which includes training for security forces and institutional coordination spaces.

User experience and personalization on the rise

The panel “Beyond the Screen: The Impact of the World Cup Betting Experience” will feature Natalia Nogues, CEO and founder of Control F5; and Dario Leiman, Head of Business Development LATAM at SOFTSWISS.

On the topics of the discussion, Felipe Costa Nadalini, Senior Account Executive at Optimove, points out that there is still limited understanding of the concept of real time in the sector.

“Real-time engagement does not mean responding immediately without relevance. The differentiator lies in personalization based on data and user behavior”, he says.

“Let’s imagine a scenario: you enter an e-commerce site and, as soon as you leave, you receive an email, a push notification or an SMS with an offer that has nothing to do with what you were looking for or your history. That is not effective engagement. Today, operators not only compete among themselves, but also with a huge indirect competition for the user’s attention.”

“Real-time engagement is important, but personalization is equally, or even more, relevant. We need to understand who the player is, their history with the brand and their behavior in order to deliver the right content at the right moment.”

“True real time happens in the background. It is the crossing of historical data that allows the action, when the moment comes, to be truly relevant. It is not just about sending an offer. It can also be a responsible action, such as detecting unusual behavior and offering responsible gambling content.”

“In addition, it is key to understand the channel. Some players interact more via email, others via SMS or push. Choosing the right channel is just as important as the message.”

When asked about underutilized technologies, Nadalini noted: “Data alone does not perform miracles. Many operators in Brazil still use their tools in a limited way, replicating competitors’ strategies instead of building something of their own.”

“There is no point in having a mountain of data if it is not used intelligently. The real differentiator lies in crossing that information to understand what content, in which channel and at what moment makes sense for each player.”

“If I do not personalize the experience, everything becomes white noise. And when that happens, the player simply stops paying attention.”

Convergence between physical and digital

The panel “Physical or Digital? Between Boundaries and Convergences in the Casino Industry” will feature Leonardo Benites, founding director of ANCASSINOS; Luiz Felipe Maia, partner at Maia Yoshiyasu Advogados; and Bryan Ortiz, director of Zitro Digital Brasil, in addition to Marco Pequeno, country manager at Amusnet; and Fernando Mora, Business Development Executive at Sportradar Brasil.

The discussion will address the growing convergence between physical and digital operations, driven by omnichannel strategies and the evolution of consumer behavior.

The role of the media in the regulatory debate

The panel “The Role of the Media in the Debate on the Restriction of Betting Advertising” will feature Magnho José, editor-in-chief of BNLData; Paulo Saad, vice president of Grupo Bandeirantes; and João Gallucci Rodrigues, managing partner at Poder360.

According to Magnho, Brazil is still going through a process of adaptation after decades of gambling prohibition.

“The Brazilian media, like the Judiciary, is still learning to coexist with sports betting and online gaming”, he said.

“A large part of the media that currently covers the sector does not understand it, and in many cases does not even try to understand it, which results in superficial and often biased coverage.”

The journalist and editor also warned about the impact of these narratives on regulation: “There is a real risk that misguided coverage may push for advertising restrictions and end up favoring the illegal market.”

For him, advertising plays a key role: “Bettors often cannot distinguish between what is legal and illegal, and advertising plays a fundamental role in that distinction.”

Finally, he concluded: “It is not about stricter regulation, but about misinformation. It is a lack of knowledge about the sector.”

To view the full agenda: https://sigma.world/summits/south-america/agenda/ 

BiS SiGMA South America 2026

BiS SiGMA South America is part of the SiGMA Group’s global event portfolio, one of the leading international platforms dedicated to the gaming, betting, and technology industry, with editions held in various regions across the globe.

Held annually in São Paulo, BiS SiGMA South America has consolidated its position as the largest and most traditional business event for the iGaming and betting sector in Latin America.

It gathers operators, technology providers, platforms, investors, government representatives, and specialized media in an environment geared toward business generation, knowledge exchange, and market development.

For the 2026 edition, the event is expected to host 18,500 participants, featuring more than 400 exhibitors and sponsors, and a content program with 250+ speakers—reinforcing the event’s scale, its international relevance, and São Paulo’s role as the region’s primary business hub for the industry.

Beyond the trade exhibition, BiS SiGMA South America offers a robust lineup of content, panels, workshops, and awards, covering topics such as innovation, operations, market trends, and industry best practices, actively contributing to the evolution and professionalization of the ecosystem.