FIRST.bet CEO reacts to Brazil betting ban and outlines European & African goals

When President Lula signed his provisional order to ban online sports betting and online casino in Brazil, it dealt a massive blow to a regulated sector that has steadily been growing since January 2025. For the operators who have invested significant resources in setting up local entities, hiring local staff and getting compliant, it felt like a hammerblow. But for suppliers who are the lifeblood of the industry, it could have been an even bigger threat. People certainly told Tom Light that his company might go bankrupt. FIRST.bet has been one of the leading providers of sportsbook technology in Brazil since the launch of the regulated market, so when Lula pulled the plug, detractors were happy to declare the company was dying. “We’re not dying, we’re fortunately very well funded, with or without Brazil,” Light said defiantly as SBC News visited the company’s stand at SBC Summit 2026. The company certainly earns a significant amount of its revenue from Brazil, but Light asserted that the provisional order could be a minor and temporary setback for FIRST.bet, which has global ambitions. He elaborated: “Of course, for someone like us, who’s been essentially the category leader in the market, it’s a hit. My main issue is not the hit on the revenue. We’re an extremely profitable company, we’re extremely well funded, it’s just we invested so much to create a product that really fits the taste buds of the Brazilian crowd. “When I entered Brazil, they told me Brazil is not for amateurs. They were right, it’s not. We had a lot of excitement about growing this market, now it’s been put on hold. Of course, it’s not fun. Patience is a virtue and we have that patience and the length of soul to really go and wait, then come out a winner on the other side.” FIRST.bet has European and African ambitions FIRST.bet spent its first two years building up its reputation, product portfolio and brand for Brazil and LatAm but is now setting its sights on shores further afield. It aims to significantly ramp up its presence in Europe in the coming months. After initially waiting to enter Europe, FIRST.bet is about to launch in European markets. “We waited with Europe because we wanted to get the licenses and the certifications,” Light noted. “We’re now between B2B licenses and B2B certifications where licenses for B2Bs are not applicable, we’re now expanding in European regulated markets.” FIRST.bet has identified exactly the type of operator it is looking to work with as it expands in Europe. It wants to work with operators who are sportsbook first, who live and breathe sports and that need to elevate their technology solutions. He noted that FIRST.bet is not just in it for money but it is also about passion for sports. “We want to work only with the people that have the passion to win, that have the passion to be the best in their space,” he added. It isn’t just online operators who FIRST.bet is targeting, either. The company has an array of retail solutions to help European operators to create a true omnichannel experience that is seamless between platforms. “We came late to the market, but that’s an advantage because we were able to take such an old industry with old technology and give it really modern tools. From cash management systems, cashiers, terminals, self-service betting terminals, handheld travel terminals, it really is an amazing omnichannel solution. You can go in the shop, bet in the shop, go home, cash out on the mobile, go back to the bar, play on the SSBT, go home, see the game, get an early payout.” At the same time, the company is eyeing up various markets across Africa. In Africa, the company is looking to push SportOS, a sportsbook operating system that promises total control for operators. Light spoke to SBC News in-depth about SportOS in part one of this interview, but he sees significant potential for the product in Africa. “If we’re just going to dictate a Western, Betano style product in Africa, it will not work. We really tailored the frontend and we’ve developed FlexiBet and MultiCat. These can allow players to receive a partial payout even if not every selection in a combo bet is correct. “Sometimes people will do a 20 leg combo bet, and you may still receive a partial payout if you win 19 out of 20 or 18 out of 20 legs with different odds and different risk.” FIRST.bet is hoping to build a similar reputation in Europe and Africa as it has in Brazil and LatAm, where as Light said, it is one of the ‘category leaders’. And while the news in Brazil certainly provides a setback, Light’s ambitions certainly won’t be diminished. As he concluded: “My vision for the company is that all the big B2Cs would understand that it’s not optimal for all of them to keep their own internal in-house sportsbook, and all of them will use us as a B2B sports betting supplier. Like they do in other verticals, in live dealer, in slots, in crash games, etc.”