Superbet Challenges Brazil’s Black Market Narrative

While many industry voices continue to warn about the scale of Brazil’s black market — with some estimates suggesting it accounts for as much as 70% of the total betting sector — Superbet’s Brazil general manager, Mark Flood, offers a sharply different perspective. In his view, the unregulated segment occupies a much smaller share, closer to 15%, when measured by actual player spending rather than inflated deposit volumes. Flood argues that while the illegal market still presents risks, particularly in terms of player protection standards, it is not the existential threat that some industry stakeholders claim it to be. Instead, he sees the greatest challenge for licensed operators in Brazil’s newly regulated landscape as the sheer competitiveness of the market itself, which demands constant innovation, investment, and brand differentiation.

 

Black market (industry estimate)	Black market (Superbet / Mark Flood)	Superbet market position	Key localisation & sponsorships	Marketing outlook
Up to 70% (widely quoted)	≈15% (Mark Flood — revenue-based view)	Top 3 licensed operator (closing on #2)	Sponsorships: Fluminense, São Paulo, Série B, 2025 Rio Carnival	Continued investment; marketing seen as strategic advantage

The Developments

Superbet’s focus on growth within this challenging environment has already yielded strong results. According to data from H2 Gambling Capital, the operator has established itself among the top three licensed betting companies in Brazil, with Flood expressing confidence that the business is not only holding a firm “podium position” but is also closing in on second place. This early success, he says, validates Superbet’s strategy of prioritising scale, trust, and brand presence over short-term gains.

However, he also anticipates that the market will not sustain such a large number of active operators indefinitely. As Brazil’s regulatory framework matures, high taxes, rising sponsorship costs, and escalating marketing expenses will likely drive consolidation, leaving only a few dominant brands—Superbet, Betano, and Bet365 among them—to shape the competitive landscape.

Flood attributes much of Superbet’s strong performance to its deep commitment to localisation and cultural integration. Contrary to predictions that international brands would struggle to resonate with Brazilian consumers, Superbet has worked to embed itself in the country’s sporting and cultural fabric. The company has recruited a predominantly local team to manage communications, marketing, and customer engagement, ensuring that its tone, messaging, and brand identity align with Brazilian values and fan culture. Flood emphasises that success in Brazil requires more than translating a European product into Portuguese; it requires understanding the emotional connection that Brazilian fans have with sport and finding authentic ways to engage that passion.

That understanding has driven Superbet’s extensive sponsorship strategy, which includes partnerships with top-flight football clubs Fluminense and São Paulo, as well as sponsorship of Série B, the second division of Brazilian football. The operator has also invested in non-sporting cultural events such as the 2025 Rio de Janeiro Carnival, using these platforms to strengthen its visibility and reinforce its local relevance. Flood explains that these partnerships go beyond logo placements or shirt sponsorships; they are part of a broader brand activation effort designed to connect with fans on an emotional and cultural level, building trust and familiarity in a crowded market.

Superbet’s commitment to marketing has been another pillar of its growth strategy. Flood notes that the company has already achieved its initial goals in terms of brand recognition and market penetration, describing its progress in Brazil as one of the company’s proudest accomplishments. This momentum, he adds, is the result of a well-coordinated local marketing team that makes daily decisions informed by a deep understanding of the Brazilian consumer base. As Superbet continues to scale its operations, the company plans to sustain its investment in marketing and brand-building initiatives, viewing them as essential to maintaining its competitive advantage.

 

The black market isn’t what keeps me up at night — it’s the competitive intensity of Brazil’s regulated market. Success here depends on how deeply you can connect with local fans, not how loudly you shout about illegal operators.

 

The Future

In Flood’s assessment, Superbet’s combination of local expertise, strong brand identity, and disciplined execution has been the key to establishing its place in Brazil’s fast-evolving betting landscape. While the black market remains a factor, he maintains that the true test for operators will come from the intensity of the regulated competition and the ability to connect meaningfully with Brazilian players. For Superbet, the path forward is clear: stay focused on growth, maintain a local-first approach, and continue investing in the brand’s relationship with Brazil’s passionate fan base.