Brazil is a territory of 8,516 million km², where around 213.3 million inhabitants live; a nation of this size should certainly have different opportunities in the most varied sectors, such as lotteries, but that is not what we see.
Nevertheless, transforming problems into opportunities is an essence of being human. This is what we can see in the article ‘Brazil: A problem turned into an opportunity’, produced by ICE365 in partnership with Ampersand.
The article illustrates how the federal lottery monopoly makes the scale of opportunity ‘inefficient’ and ‘scarce’ in Brazil, where names like Fernando Paes, CEO of Ampersand, intend to change this scenario with the launch of yet another lottery business on national soil .
Check out the full report on lotteries below:
Fernando Paes Afonso, Owner and CEO of Ampersand, brings valuable numbers.
The inefficiency of the federal lottery monopoly demonstrates the scale of the opportunity in Brazil, where the lottery generates a turnover of €3 billion. Portugal, a much smaller and less populous country, surpasses this total with 3.2 billion euros.
That’s what Fernando Paes Afonso, former chief executive of the Portuguese lottery, Santa Casa, is counting on. Despite the pandemic and in the wake of a Supreme Court decision that gave States the right to operate their own lotteries, he is preparing to launch a new lottery business in Brazil. If this is successful, he plans to expand into new states.
It’s actually the efficiency and productivity of online meetings, as opposed to face-to-face meetings, that he credits with his plan being on track and even fast-paced. That and knowledge of local realities, linguistic bureaucracy and limitations on foreign investment – critical for anyone wanting to do business in Brazil, whether in the lottery or sports betting.
