What do you feel the key challenge currently is for brands like Flutter-owned Betnacional in Brazil as we turn over from 2025 into 2026?  

The main challenge is consolidating trust. We have entered a new phase of the market, more mature and regulated, in which brands need to go beyond visibility and consistently prove they operate with responsibility, transparency and a focus on entertainment. Flutter Brazil’s goal is to balance sustainable growth with the construction of a trustworthy reputation for the Betnacional and Betfair brands. This means maintaining open dialogue with society and a real commitment to responsible gaming.  

With regulatory changes always on the horizon, how are operators likely to respond to tighter advertising restrictions amid growing pressure to tackle youth gambling?  

The sector in Brazil is still new; we are beginning the second year of a regulated market, so this movement of legal adjustment is natural. The response from responsible operators involves self-regulation, intelligent use of data, strict audience control, and increasingly contextual and adult-oriented communication. Our focus is to ensure advertising speaks to those who can and want to consume the product, always reinforcing messages of responsibility and protection of vulnerable audiences, especially minors.  

If you could go back 12 months, what kind of advice would you give to both yourself as an executive and also senior regulators at the SPA – now that we have seen how 2025 panned out in Brazil?  

For myself, the advice would be to further accelerate the integration between business strategy, compliance and communication from day one. For regulators, I would reinforce the importance of constant and strict enforcement against illegal betting operators, which still represent a significant portion of the Brazilian market.  

Overall, what excites you the most about the Brazilian market and what are your hopes for 2026 as it continues to mature?  

What excites me most is the potential for market maturation combined with the Brazilian passion for sports and entertainment. For 2026, we expect a more stable environment, with more responsible brands, more conscious consumers and a more professional ecosystem. The World Cup will also be an important catalyst to raise the standard of experience and communication in the sector.  

Scale aside, what do you think global operators find in Brazil that they won’t find anywhere else?  

Brazil offers something rare: a combination of culture, emotion and engagement. Betting was already present in popular culture and is now a regulated practice, so we must consolidate this sector as a legitimate entertainment force. Here, sport is experienced in a collective, emotional and everyday way. For global operators, this represents the opportunity to build brands that truly become part of popular culture, not just transactional platforms. It is a market where cultural relevance weighs as much as technology.  

If you were to make one bold prediction about Brazil’s market for 2026 after what we saw last year, what would it be?  

My prediction is that 2026 will be the year of consolidation for the brands that did their homework from the beginning of regulation. We will see less noise, fewer empty promises and more differentiation based on trust, experience and responsibility. The market should grow, but above all become more selective for both operators and consumers.