Kambi has reached an agreement to provide its online sportsbook to Rei do Pitaco, a Brazilian daily fantasy sports operator, through a multi-year partnership.
Under the terms of the deal, Rei do Pitaco will utilize Kambi’s technology and services to launch a real-money online sportsbook, including a suite of APIs and differentiation tools.
These services will allow the Brazilian operator to provide the market with a localized offering alongside products such as the Kambi Bet Builder.
Brazil is yet to regulate sports betting, but it is in the process of doing so. Once regulated, it is expected to be one of the largest sports wagering markets in the world.
However, the country will have to wait a little longer for that to open, as it missed the deadline to regulate the industry earlier this month.
“We are pleased to have agreed to this exciting sports betting partnership with Kambi,” commented Mateus Dantas, CEO and Co-Founder of Rei do Pitaco.
“Through this new operation, we are confident of delivering a market-leading online sportsbook to our fast-growing customer database which will have access to an excellent and safe user experience on our platform.”
The mobile-led Rei do Pitaco will utilize Kambi’s technology to offer sports betting and further grow its existing fantasy sports customer base, which already stands at more than 13.6m app downloads since 2019.
The operator recently secured venture capital investment to expand into the world of sports betting, and it has also received investment from FanDuel Co-Founder Nigel Eccles, who is now the company’s Chair.
“Brazil has the potential to become one of the world’s largest regulated sports betting markets so I am delighted Kambi has partnered with Rei do Pitaco, a company which I believe is uniquely positioned to gain a strong position in the country,” added Kristian Nylén, Kambi CEO and Co-Founder.
“The talented people behind Rei do Pitaco have exciting and ambitious plans, so this agreement is a testament to the strength and flexibility of our sportsbook technology to be able to support those aims and enhance our position as the leading sportsbook partner in Latin America and across the world.”