3 minute read
Final word with Rasmus Sojmark
from SBC Leaders Issue 30
by SBC Global
Final word with Rasmus Sojmark
I write this on the plane returning from our first ever event in Brazil - the SBC Summit Rio. And what a show we had!
Brazil is obviously a market of very serious interest to companies in the betting and gaming sector with its love of leisure, sport and enjoyment, but the intention to properly regulate online gaming for the first time has made it more important than ever.
There is still a long way to go but the biggest hurdle was cleared when President Lula finally signed off the regulation last year. That gave the green light for companies to have confidence to invest R&D money into a region which already has a very active market but one that had been waiting for regulators to catch up.
It seems they will still be waiting a little longer before there is full clarity however. It is still not exactly clear how the relationship will work between the different state regulations and potential federal regulation with arguments reminiscent of when SchleswigHolstein tried to regulate online gambling in the whole of Germany by issuing local state licences.
The good news is though that it is on the wayand it is being taken very seriously at all levels of government. At our event we were pleased to host the Governor of Rio De Janeiro Cláudio Castro, who recognises the benefits that the industry could bring to his region and wanted to know more. He was also very pleased with our commitment to Rio as we have signed a deal to move the event to the huge Riocentro exhibition hall for the next four years.
We’re expecting more than 10,000 delegates and 400 exhibitors in 2025, so I just hope the 50,000 sqm will be big enough to meet demand.
We have launched a number of our SBC Summits in regulating markets over the past few years, so we recognise some of the trends as people find their feet in an evolving environment. What did stand out for Brazil though was the seriousness in which our delegates took player protection already. In some other markets it has taken operators a little while to warm up to the importance of having prevention strategies for gambling harm, but the session we had in Rio was standing room only.
This was very encouraging to see from my perspective as too often the industry shoots itself in the foot by pushing too much too quickly for society and then faces an inevitable regulatory backlash further down the line. By taking responsible measures early, we can become more sustainable from the start and make sure everyone can enjoy the products we offer to our customers.
Stay cool,
