Ivan Montik: The growth of the sector in Brazil is not a "bubble" and the regulation has been done "intelligently"

SOFTSWISS CEO Ivan Montik was in Brazil to participate in the BiS SiGMA Americas summit, held in São Paulo between April 23 and 25. In an interview with the media outlet Band, the executive shared some of his thoughts on the Brazilian market and the work of the company, which provides solutions for the iGaming sector.

"I am sure that it is not a bubble. I see how the regulation is being worked out, it has been smart. The regulator is talking to local companies, it's a round table. It's a good step for the whole gaming and betting industry, but also for the Brazilians themselves, because Brazil will collect taxes, and there will be more jobs. All parties involved, such as players, operators, and suppliers, will understand how to work in this market and how to view the future," Montik assured.

Ivan Montik at the presentation of Rubens Barrichello

The executive also referred to the incorporation of Rubens Barrichello, a former Formula 1 driver, as SOFTSWISS' new non-executive director for Latin America. According to him, the motorsport icon was chosen not only for his history on the racetrack but also for his business vision. 

"We need local personalities that understand the culture, what local businesses are like, and how to approach customers. Rubens has, on the one hand, a lot of talent and is one of the most successful sportsmen in Brazil. On the other hand, he also has a lot of business experience because he has many business partners. He knows how to talk business, he is the right person for us," he explained.

Montik was also asked if the Brazilian market has any particularities compared to other countries. "I think the Brazilian market has a lot to do with culture, with how people make their decisions," he said. "In Brazil, you can't just come in and say: 'This is my business proposal, and this is the software, these are the people, how we work. Let's sign an agreement and do business'. No, you have to get to know each other."

"You have to understand how the other party thinks. So it's a process and we have to be patient to meet with our partner or customer. I think it's a unique thing, but I like it because you also understand who your customer is and you know who you're going to work with," the CEO said.