Brazil’s newly legalised gambling sector has seen an impressive start, generating BRL17.4 billion ($3.2 billion) in gross gaming revenue and BRL3.8 billion in tax contributions during its first six months. However, as new regulations loom, ranging from advertising restrictions to previously proposed retroactive taxes, Flutter Brazil CEO João Studart has urged policymakers to move carefully.
In a recent interview with iGB, Studart emphasised that excessive taxation and stringent ad restrictions could drive bettors back to unlicensed operators, undermining the very goals of regulation. He referenced an Instituto Locomotiva study revealing that 61% of Brazilian bettors still engaged with illegal betting platforms in 2025.
“These findings show that the combination of high taxation, bureaucracy and advertising bans can produce the opposite of the intended effect,” Studart explained. “Caution is needed when it comes to balancing tax burdens, advertising restrictions and the overall attractiveness of the regulated market.”
Flutter Brazil, established following Flutter Entertainment’s acquisition of a 56% stake in NSX Group, now employs around 500 staff members and operates Betnacional as part of its brand portfolio. The company’s strategy emphasises localisation, responsible gaming, and technological excellence.
Studart believes Brazil’s regulatory journey represents a pivotal opportunity for sustainable growth, blending innovation with accountability. He concluded that Flutter Brazil aims to contribute actively to the market’s maturation by aligning global expertise with Brazilian talent and culture.
