BETBY: Brazil's sports betting ban will not protect players

BETBY says it has been affected by Brazil's fixed-odds betting ban. Sergey Tsukanov, the company's chief sports betting officer, told NEXT.io that the ban will not protect players.

Tsukanov noted that BETBY obtained an operating license in Brazil before the regulated market was officially opened, and that it maintains local teams in the country. He said that sudden changes in the rules affect the company, as they do anyone who has invested in Brazil. However, he stressed that the strategy does not depend on a single market, as the company operates in several regulated regions, including Latin America.

The company said it expects the final regulatory outcome and is closely monitoring the situation. According to Tsukanov, if the regulated market disappears, player demand will continue and part of this activity may move offshore, where oversight is weaker. In his view, a strong regulated market gives authorities a better framework for responsible gambling, player protection and the fight against illegal activity.