As iGaming gains momentum across Latin America, Brazil stands out as a core market attracting global operators, affiliates, and investors alike. Amid regulatory shifts and rising competition, affiliate marketing is playing a pivotal role. During BiS SiGMA Americas 2025, Levon Nikoghosyan, CEO of AffPapa, shared timely insights on how affiliates and operators can better collaborate, navigate regulatory developments, and leverage localised strategies to succeed.

AffPapa’s unique positioning in a changing landscape

“AffPapa itself is not a typical affiliate platform or affiliate system,” Nikoghosyan clarified at the outset. “It’s a directory that helps affiliates and operators find each other.” He emphasised that in a region undergoing rapid regulatory and commercial transformation, AffPapa offers a platform that fosters year-round connectivity.

“With the help of systems like ours, we are making that connection smoother, easier, and 365 days a year.”

This connectivity is particularly valuable in geographies like Brazil, where “a lot of interest from all around the world, not particularly local brands,” is converging. As Nikoghosyan puts it, “We see attraction not only from the existing brands that are in the industry… but others that are jumping into this geo because of this kind of air traction in terms of growth and expansion of the market.”

Affiliates under regulation: challenges and opportunities

With Brazil’s iGaming and sports betting markets moving into a regulated framework, affiliate marketing is set to become even more essential. “Affiliate’s role is gonna remain the same and even become stronger and stronger,” Nikoghosyan stated, describing affiliates as “a huge channel of traffic generation, of lead generation for the brands that are operating here.”

However, regulatory changes also bring adjustments. “It gives opportunity for smaller ones to step into the game,” he explained. At the same time, “it makes some problems and troubles for the ones who have been operating in a certain way… and now they have to readjust.”

On the subject of legislation, he issued a clear message: “The industry needs the regulation now.” But Nikoghosyan was equally clear that this must be implemented with fairness and foresight. “It shouldn’t be from beneficial perspective of only a couple of brands, but it should be beneficial for the end customer, the user, the player.”

“Regulation is for two things, right? To protect the players and to get money and to expand the economy of your country… If it harms the business, then it’s not for good.”

Localisation is not optional

When discussing strategy, Nikoghosyan urged affiliates to adopt a granular approach. “Latin America is very big. It’s like, you know, when you say targeting Europe or Africa, you should consider every country separately.”

The takeaway? “Go global, but you think local.” He advised affiliates to analyse betting behaviours, preferred bonuses, and cultural nuances on a per-country basis. “Based on this analysis, you will be able to come up with a solution to generate traffic for the market.”

He cautioned against spreading efforts too thin: “If you just go with a single solution and chase all the rabbits, you won’t get anything.”

Innovations shaping the affiliate future

When asked about technology’s role, Nikoghosyan singled out two disruptors: AI and blockchain. “AI… is shaping right now the industry,” he said, noting its utility in helping “smaller companies to grow much quicker” and enabling brands “to come up with solutions which otherwise would cost them much more resources and finances.”

He also pointed out the shifting power dynamics driven by technology adoption: “We see the big ones, the giants who didn’t adopt… sinking a little bit.”

Blockchain, meanwhile, is improving efficiencies across multiple touchpoints: “With easing the process of flow of the money, of registrations… basically like 80% of the industry.”

Industry implications

Nikoghosyan’s message to the industry was clear: Brazil and the wider Latin American region offer fertile ground, but success depends on compliance, cultural intelligence, and technological adaptability.

“If you want to target the market, you should think locally,” he stated. And when it comes to regulation, “unless it’s meticulously and carefully considered, I think regulations are always good.”