One of the first to gain a full licence in the newly regulated Brazil betting market, Rei do Pitaco is hoping to compete against a wave of international entrants. Somewhat following in the footsteps of success stories in the US, CEO Kiko Augusto explains how the company’s strategy differs and how Rei do Pitaco’s daily fantasy sports (DFS) roots have set it up for success.
Rei do Pitaco launched its DFS offering in 2019 with one eye already on the soon-to-be regulated sports betting market in Brazil, which finally launched on 1 January.
It first signed an online sportsbook partnership with Kambi in 2022 – a deal it extended last October as it prepared to transition from a DFS operator to a full-fledged sports betting site.
It is a strategy that has been hugely successful in the US for the two market leaders, FanDuel and DraftKings. Both evolved from DFS-focused operations to sports betting and igaming to the tune of a combined $10.6 billion (£8.2 billion/€9.6 billion) in FY2024 reven..