Challenges persist in achieving regulatory compliance that harmonizes with day-to-day business operations, as highlighted by Raiana Falcão.
In a chatty, down-to-earth style, we're diving into the heart of what matters in the ever-growing sports betting realm, all thanks to a soulful conversation with Raiana Falcão, Deputy Secretary for Sanctioning Action at the Secretariat for Prizes and Betting. During her talk at BiS SiGMA South America, she shed some light on the critical role of compliance in shaping the future of the industry.
While sports betting regulation in Brazil is heating up, the term 'compliance' has moved from being a fancy jargon to a fundamental player in any intelligent conversation about the industry's future. And, at BiS SiGMA Americas 2025, this theme took on a whole new depth with Raiana joining the panel, "Compliance in Action - the Secret to Effective Regulation in Brazil."
As the Deputy Secretary for Sanctioning Action at the Secretariat for Prizes and Betting (SPA) under the Ministry of Finance, Raiana brought a robust, forward-thinking, and pragmatic angle to the importance of a culture of compliance. She emphasized that it's not just about meeting legal obligations but also using it as a competitive edge and a stepping stone to forge lasting connections in the Brazilian market.
In this kick-ass interview, she delves deeper into the thorny issue of instilling a true culture of compliance in the sector, the next moves for SPA, and the vital role of operators, suppliers, and local professionals in building a more ethical, open, and enduring market.
Now switching gears, as someone who's smack dab in the middle of laying the regulatory foundation of the sector, what do you think is the most significant hurdle - or risk - when it comes to the practical implementation of compliance policies by operators?
I believe the biggest roadblock is ensuring that regulatory necessities align with the day-to-day operations of the sector. This business isn't confined to just one regulatory body (Ministry of Finance, Central Bank, ANATEL, SENACON, COAF, LGPD, and others), and after the regulations dropped, operators had to throw together their processes in a hurry. This may create fissures in the compliance ecosystem.
Next up, structuring the sanctioning area in a techy, modern, and, most importantly, effective way - what has that process been like for you?
Setting up the sanctioning area in a sector as dynamic as the betting market is no easy feat. It demands a delicate balance between technical know-how and agility.
Moreover, the sanctioning activity in an administrative context functions as a social control mechanism, allowing the State to intervene legitimately and proportionately whenever there's a breach of legal norms. This regulatory action is especially relevant in sensitive and speedily regulated sectors such as the fixed-odds betting market, which demands constant vigilance to find that sought-after harmony and efficiency.
Now, let's touch on those tricky relationships between operators and third parties - especially affiliates and international suppliers. What are the critical points to ensure these relationships support, rather than undermine, the credibility of the regulated market?
SPA/MF Ordinance No. 1.143/2024 established a stringent framework for relationships with third parties, demanding operators to deploy proactive controls in KYC, KYP, and KYS. The aim is to prevent partnerships with affiliates or suppliers from compromising the market's integrity. It's good for operators to adopt these requirements not just to minimize risks but to offer more security and credibility to these relationships.
We also had discussions during the panel about the need for collaboration between various internal departments in companies, like legal, product, and compliance. In your view, what's still missing for this dialogue to become fluid and strategic within organizations?
It's necessary to dissolve the conflicts that exist between these areas, which isn't exclusive to the betting market. When each department focuses solely on their individual goals, the result is a fragmented governance, highlighting operational gaps and strategic discordances between them.
The lack of an integrated vision can produce critical inefficiencies, particularly in the betting sector. Dialogue only becomes strategic when it becomes proactive.
Brazil is rapidly becoming a global magnet for regulatory expectations. How do you see SPA's role on the international stage, and what can the country teach - or learn - from other models?
The Secretariat for Prizes and Betting was born as a formidable entity, not just because it's responsible for regulating one of the largest markets in the world, but also because it dared to strike a balance between innovation and consumer protection in a responsible and sustainable regulatory environment. With this, Brazil positions itself globally with the potential to export its regulatory model to countries that are regulating betting.
To wrap things up, what would you like to see, in the coming years, as the legacy of this first phase of betting regulation in Brazil?
In the coming years, I'd like to see a legacy of a successful fight against the illegal market combined with a positive social impact, especially in terms of responsible gambling and player protection, with an uplift of the sector's ethical standards.
For this to materialize, continuous adjustments are crucial, but the foundation is being built, and the true legacy will be to demonstrate that regulation is not a hindrance but an essential part of sustainable growth.
In conclusion, it's this technical, responsible, and long-term vision debate that will continue to be at the crux of discussions during BiS SiGMA South America 2026, which is already in the works to be the largest gathering in the history of iGaming in Latin America.
Mark your calendars, folks! The event will take place in April 2026 once again in São Paulo, and it will bring together regulators, operators, suppliers, and national and international authorities for three days of networking, high-level content, and collective solution-building to the industry's main challenges.
Stay in the loop for updates on the SiGMA News portal and official SiGMA channels. The future of Brazil's regulated market is under construction - and you're an integral part of this story.
The discussion of gambling-trends in the betting market has led to a focus on ensuring regulatory necessities align with the day-to-day operations of the sector, as this could potentially create fissures in the compliance ecosystem.
As the regulatory framework for relationships with third parties tightens, operators must adopt proactive controls in KYC, KYP, and KYS to prevent partnerships with affiliates or suppliers from compromising the market's integrity.
