FIRST.bet CEO Plans Europe Expansion Despite Brazil Ban

Brazilian President Lula has signed a temporary decree banning online sports betting and online casino. The decision is a heavy blow to a regulated market that has grown steadily since January 2025.

Tom Light, CEO of FIRST.bet, one of the leading sports betting technology providers in the market, responded to claims that the company would collapse. Speaking at his stand at SBC Summit 2026, Light said the company is very well funded whether or not it stays in Brazil.

According to Light, the real problem is not lost revenue. The company invested heavily to build a product that suits Brazilian users, and the market is now on hold. Light said they are patient and ready to wait out the process.

FIRST.bet spent its first two years building reputation, product and brand in Brazil and Latin America. The company now aims to significantly increase its presence in Europe over the coming months. Having delayed its entry into Europe due to licensing and certification processes, the company is starting to expand into regulated markets.

The company wants to work primarily with operators focused on sports betting that want to strengthen their technology. Light said their motivation is not only money, and that a passion for sport is also a decisive factor.