Brazil’s SPA opens public consultation on B2B suppliers as betting regulation moves beyond operators

The thing is, Brazil’s regulated betting market is now being pushed to look at the whole supply chain, not just the operator sitting in front of the consumer. According to Thiago Garrides, CEO of Cactus Gaming, the public consultation opened by the Secretariat of Prizes and Bets (SPA) to regulate B2B suppliers is one of the most important steps since the sector’s regulation began.

1. Garrides says a regulated market is only as good as its supplier chain, which is a familiar lesson in financial services, insurance, and payments: operational security depends not only on the companies facing the customer, but also on the infrastructure running behind the curtain.
2. In Brazil’s betting market, that infrastructure now includes game providers, technology platforms, KYC (know your customer) identity checks, anti-money laundering tools, antifraud systems, geolocation solutions, data suppliers, payment methods, and other specialist vendors. In other words, the bet is only the visible part of the stack.
3. The consultation by SPA is framed as a shift in regulatory logic. Instead of focusing only on operators, the new approach recognizes that the credibility of a regulated environment also depends on the quality, security, and governance of the B2B firms that make the operation possible.
4. Garrides argues that this should not be read as “more bureaucracy” but as institutional evolution: technology, governance, and compliance stop being competitive extras and become minimum requirements for operating in the market.
5. He also pushes back against the common claim that fewer rules mean more innovation. His point is the opposite: the markets that attract investment are the ones offering predictability, legal certainty, and regulatory stability. For PSPs and other vendors, that is the real commercial point of regulation — clear rules, matched conditions, and enough confidence for the market to keep moving.