The new long-term agreement will see Grupo Silvio Santos, a conglomerate that includes the Brazilian Television Network (SBT), offer OpenBet’s responsible gambling technology, its player account management (PAM) system and its managed trading services.
Grupo Silvio Santos applied for a licence on 19 August, the day before the 20 August deadline for the initial 90-day window of preference. Operators that applied for a licence during that period will be guaranteed to have their applications processed by the legal market launch date of 1 January 2025.
The TQJ platform will aim to leverage Grupo Silvio Santos’ extensive media reach, with the conglomerate claiming its shows on SBT reach over 113 million Brazilians every month with an average per day viewership exceeding 29 million.
José Roberto Maciel, Grupo Silvio Santos CEO, believes the partnership with OpenBet will propel TQJ to the top of the regulated Brazilian betting market, especially considering the provider’s ongoing partnerships with other media betting brands such as Sky Bet and theScore Bet.
“Considering OpenBet’s heritage of working alongside iconic media entertainment brands and state-owned organisations, TQJ is firmly positioned to lead the way in Brazil by offering responsible gaming, beyond what is required by legislation, and new product experiences that will capture the imagination of players,” Maciel said.
Jordan Levin, OpenBet CEO, added: “Grupo Silvio Santos is an iconic group in Brazil’s entertainment sector, and we are truly honoured to have been chosen to power its sports betting and gaming brand.”
How will OpenBet benefit Grupo Silvio Santos’ TQJ?
Grupo Silvio Santos hopes TQJ can be the “number one leader” for player protection in Brazil thanks to its work with OpenBet, which is fully compliant in Brazil and first entered the country’s sports betting market in September 2023 when it partnered with Play7.Bet.
Grupo Silvio Santos believes OpenBet’s solutions will allow TQJ to handle significant betting traffic during major sporting events, with its PAM leading to a simpler gambling experience for players.
Additionally, OpenBet will offer its bet builder experience and risk management guidance, as well as its responsible gaming and anti-money laundering technology, powered by the specialist Neccton which it acquired in June 2023.
Levin is excited for the potential of the partnership with Grupo Silvio Santos and the Brazilian regulated sports betting market, which the International Betting Integrity Association (IBIA) believes could reach a turnover of $34bn (£26.8bn/€31.1bn) by 2028.
“Considering the esteemed heritage of both OpenBet and GSS, together we are in a solid position to deliver an engaging and responsible betting experience that will make waves across Brazil’s regulated market.”
Grupo Silvio Santos chief information officer Leonardo Sampaio added: “For TQJ, it is imperative we offer superior betting experiences that are underpinned by robust compliance procedures.
“OpenBet’s end-to-end ecosystem and overall company values provide us with peace of mind that we are working alongside the best company to launch us into the regulated sports betting and gaming market.”
Another media deal in Brazil
The OpenBet and Grupo Silvio Santos partnership is the latest example of local media brands displaying a growing interest in Brazilian betting.
In August, MGM established a joint venture with Grupo Globo, the largest media brand in LatAm, to allow it to enter the legal betting market in Brazil.
The move will leverage Grupo Globo’s consumer network of around 70 million daily users across TV, digital, radio and print media.
KTO founder and CEO Andreas Bardun believes media partnerships deals could prove highly successful in Brazil, though it’s down to how the businesses collaborate.
“It always comes down to execution because we have seen some brilliant ones, like in the old days with Sky Bet,” Bardun told iGB.
“I think sometimes when you have two humongous partners like this [MGM and Grupo Globo], it could be stifled by bureaucracy and negotiations, but I think if they manage to nail that, they will be a really, really strong competitor in Brazil.”
Original article: https://igamingbusiness.com/strategy/grupo-silvio-santos-openbet-brazil/
