Betsson was among the first 10 companies to apply for a betting licence in Brazil, but it was notably absent from the list of 43 operators that received a full licence in January and February. Instead it received provisional authorisation in the first round of licences as it prepped its technical certifications.
However, last Wednesday (26 February) Betsson announced it had received its full licence to operate in Brazil, with the authorisation lasting five years from 25 February.
Betsson moved into Brazil in 2019 when it acquired a 75% stake in local sportsbook operator Suaposta. The company also maintains a presence in the neighbouring LatAm markets of Colombia and Peru.
In Betsson AB’s announcement, Lindwall said the authorisation aligned with the company’s plans to expand across the globe.
“We welcome the introduction of a local regulatory framework in Brazil and are pleased to have obtained a licence.
“This step aligns with our strategy to grow via geographical expansion and we look forward to offering Brazilian customers a secure and high-quality gaming experience.”
Five other operators also received full licences last Tuesday (25 February). These included Big Brazil and its Caesars brand, as well as Skill On Net and Reals Brasil.
When will Betsson go all-in on Brazil?
Betsson’s new full licence follows comments from group CEO Jesper Svensson, in which he revealed the company would park its investment in Brazil to focus on Spanish-speaking LatAm markets in the short-term.
At the time he told iGB: “Although we have been growing really well in Latin America, we have not yet started to invest in Brazil.
“We will try the market, but our focus has more been the Spanish-speaking countries. [However] our ambition is clearly to be part of the regulation and over time build a strong business in Brazil as well.”
In Betsson’s 2024 full-year earnings report, group revenue broke the €1 billion (£833.2 million/$1.04 billion) barrier for the 12-month period. This was an increase of 16.8% over 2023 and Lindwall pointed to LatAm as a “key driver” of Betsson’s growth in 2024.
VaideBet authorised by court order
Joining Betsson in the betting market, at least provisionally, will be VaideBet after its parent company BPX Bets Sports Group was authorised by a court order to operate in Brazil.
BPX Bets’ BetPix365 and ObaBet brands can also operate on a provisional basis after judge Pablo Zuniga Dourado granted the company an injunction to offer fixed-odds betting across Brazil on 26 February.
Zuniga also set a daily fine of BRL10,000 (£1,292/€1,555/$1,635) for the regulator, the Secretariat of Prizes and Bets (SPA), if it continued to omit BPX Bets’ brands from operating. Additionally, Zuniga warned he could work alongside the public prosecutor’s office to pursue an investigation into the crime of disobedience from the SPA if it failed to authorise BPX Bets.
The SPA did adhere to Zuniga’s request, authorising BPX Bets’ three brands to operate on a provisional basis.
Another operator (called Tropicalize) has been excluded from the market following a decision from judge Flavio Jaime de Moraes Jardim of the Federal Regional Court of the First Region. It had previously been on the list of companies authorised by the courts to provide gambling services in Brazil.
It has been reported that Tropicalize failed to pay the BRL30 million licence fee, which has led to its removal from the list of court-approved operators.
Original article: https://igamingbusiness.com/legal-compliance/betsson-brazil-betting-licence/
