The leading provider of regulatory and business intelligence, powering the global payments and gambling industries, Vixio Regulatory Intelligence, released a new report, highlighting the potential of the online gambling sector in Brazil. Released just in time for the start of the ICE 2024 convention in London, the new Brazil Online Outlook report analyses the potential of the iGaming vertical in the country.

In its report, Vixio delves into the online gambling regulations in Brazil, analyzing strategic processes related to compliance and licensing. Vixio’s report also explores the competitiveness of the iGaming sector in the country along with possible growth opportunities through lotteries or advertising.

Notably, Vixio predicted the possible development of the Brazilian online gambling sector. The company’s report estimated the iGaming vertical in the country may generate $3.7 billion by its third year of operation. Moreover, by year five, the online gambling sector in Brazil is estimated to generate a staggering $4.9 billion.

Back in December, lawmakers in Brazil added a provision for online gambling as a part of legislation that seeks to legalize sports betting in the country. This marked an important step, paving the way for the possible legalization of iGaming activities.

The Success of the Market Is Contingent on Its Regulation

Yet, according to Vixio, the success of the online gambling market is subject to a number of conditions that are yet to be determined. For example, if iGaming operators need to ink deals with local partners the market’s attractiveness may be impacted. A major factor is also the taxation of online gambling, along with license and other fees that may apply for iGaming operators. Whether or not Brazil’s online gambling sector would permit bonuses or other incentives is also imperative when it comes to the attractiveness of the sector.

Mike Woolfrey, Vixio’s CEO, revealed that the market in the country has been a focus for the company over the last 15 years. He said that it is expected that many companies are thrilled to enter the online gambling market in the country, considering the “series of false starts in terms of expansion of land-based casinos and bingo halls over recent years.”

James Kilsby, Vixio’s chief analyst and a co-author of the report, spoke about the importance of the online casino legislation in Brazil. He explained that this legislation “should enable Brazil to realize its potential as a major market on a global scale, with the country set to join the UK and Italy among the largest regulated online gambling jurisdictions in the world while surpassing the likes of Australia, France and New Jersey in the near-term.” Finally, Kilsby outlined that the regulation of the sector will play an important role in its growth and attractiveness.

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With the ever-evolving landscape of regulatory requirements, businesses must increasingly rely on external tools to remain compliant with regulations and make informed decisions. VIXIO’s newest solution bolsters high-level decision-making, analyzing available data to improve planning efforts and highlight potentially hidden business opportunities.

The New Solution Answers Rising Market Challenges

VIXIO Regulatory Intelligence is a leading data provider for the gambling and payments industries, enabling businesses worldwide to navigate the increasingly complex modern regulatory challenges. The company’s forward-looking mindset drives it to constantly refine its platform and services to remain relevant despite rising global uncertainty.

The VIXIO Data Hub represents the company’s newest strategic planning and analysis portal. Live updates to relevant regulatory parameters will help partnering businesses remain compliant and better prepare for expansion into new jurisdictions. By consolidating relevant data into a user-friendly interface, the VIXIO Data Hub empowers companies with timely and accurate information critical to their strategic planning.

Global gambling companies can most benefit from this service, accessing over 400 data sets and 4 million data points from regulated markets. Proprietary forecasting tools allow users to generate accurate predictions, basing their growth strategies on up-to-date legislative or market developments. VIXIO’s team of leading analysts is also an expert at quickly identifying market trends, allowing operators to capitalize on potential opportunities before the competition.

Tightening Regulations Necessitate Enhanced Monitoring

Rapidly changing regulations can often catch operators unaware, resulting in potential breaches that can lead to significant fines and tarnish the company’s reputation. This problem is especially prevalent with companies operating in multiple jurisdictions, often sporting distinct regulatory challenges. Such a rapidly evolving landscape has caused many companies to seek third-party assistance, relying on professionals like VIXIO to track relevant changes and reveal new opportunities.

A recent GamblingNews interview with VIXIO senior gambling industry analyst Joe Ewens revealed the company’s stance on the upcoming UK white paper and the rising compliance burden on operators. He noted that such significant changes to a well-developed gaming market would undoubtedly cause local disturbances but were part of a worldwide push toward tightening regulations.

The reality is that all of the planned changes are just the latest developments in a story of tightening regulation over the past few years.

Joe Ewens, VIXIO senior gambling industry analyst

The VIXIO Data Hub’s launch marks an important milestone for regulatory intelligence solutions. Organizations can use this newest tool to ensure compliance and make informed decisions in a rapidly evolving regulatory landscape. The growing need for comprehensive data coverage and advanced analytics capabilities means more operators will gravitate towards such third-party solutions, enabling them to stay ahead of the curve and confidently achieve their objectives.

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