FIRST.bet brushes off bankruptcy talk, eyes Europe & Africa
CEO Tom Light says the supplier is “extremely profitable” despite detractors predicting collapse after Lula’s order.
The hit
FIRST.bet CEO Tom Light has denied his company is going bankrupt after President Lula’s provisional order banned online sports betting & online casino in Brazil, according to SBC News. Light called the ban a hit but said FIRST.bet remains “extremely profitable” & well funded, with or without Brazil.
Why it matters
Lula’s order halts growth in a market that operators & suppliers had invested heavily to build. According to SBC News, Light suggested the provisional order could be a minor & temporary setback for FIRST.bet, saying the Brazilian market’s expansion has been “put on hold”. FIRST.bet now holds B2B licences & certifications & is expanding into European regulated markets, plus targeting Africa with its SportOS product.
The record
| Market launch | Brazil’s regulated betting market began January 2025 |
|---|---|
| FIRST.bet position | described as a category leader in Brazil & LatAm by CEO Tom Light |
| Next markets | FIRST.bet expanding into European regulated markets via B2B licences & certifications, plus targeting Africa with SportOS |
What happens next
Watch for FIRST.bet’s formal European launch, further B2B operator partnerships & any update on Brazil’s provisional order or its reversal.
Sources: FIRST.bet On Brazil Ban Woes & Global Ambitions
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