Watch: BETBY's Stefanos Karakidis reflecting on the expansion of the Brazilian market
Stefanos Karakidis from BETBY shared with SiGMA TV during BiS SiGMA South America 2025 in Brazil to share what he’s learned about Latin America’s gaming scene. As Head of Business Development, he’s seen firsthand how tricky it can be to navigate new regulations while keeping partnerships strong.
Regulatory hurdles and market reality
Brazil’s recent shift to regulated gaming has created some headaches. “The market became regulated recently, so there’s also a challenge that we experienced in terms of KYC, bonus, and new laws,” Karakidis explained. These aren’t just minor adjustments either. Operators are scrambling to meet new compliance requirements that change how they do business.
BETBY has managed to stay ahead by getting their GLI-33 certification sorted early. With over 70 operator partnerships across Latin America and 350,000 events flowing through their system monthly, they needed that regulatory foundation locked down. The company’s sportsbook platform covers 70 sports, which gives operators plenty to work with once they’re compliant.
Karakidis has been in this game for 15 years, working his way through roles at Sportradar and Markor Technology. That experience shows when he talks about market dynamics. He gets that each region has its quirks, and Brazil definitely has plenty of those.
Industry connections and insights
The three-day format at BiS SiGMA South America was intense. “It’s been a bit tough in terms of being three days this year,” Karakidis admitted. But the traffic was solid, and that’s what matters for business development.
“It’s always networking; it’s great to catch up with the lads, have some drinks afterwards, the very nice vibe environment,” he said about the event atmosphere. That’s the real value of these shows. Sure, you showcase products and meet potential clients, but those informal conversations often lead to the best partnerships.
The event drew a mix of European companies and local Brazilian startups. Everyone’s trying to figure out the new regulatory landscape while positioning themselves for growth. BETBY used the opportunity to strengthen existing relationships rather than just hunt for new ones. The gaming ecosystem in Brazil includes sports betting, casino operations, payment providers, and affiliate networks. Each sector faces its own regulatory challenges, but they’re all interconnected. When payment processing gets complicated, it affects everyone else down the line.
Looking ahead, events like this will remain crucial for industry relationships. Industry professionals wanting deeper insights into global gaming trends can catch exclusive interviews on SiGMA TV during SiGMA Euro-Med in Malta, happening from 1 to 3 September 2025.
