EstrelaBet and SportyBet among latest Brazil betting licence applications

Reals Bet then applied today (13 August), taking the total number of applications in Brazil to 13.

Operators that apply within the 90-day initial submission window will ensure their applications are processed ahead of 1 January 2025. That is currently expected to be the launch date for the legal market.

After that date, operators active without a licence will face punitive measures.

The trio joins the likes of Betano and Betsson in applying for licences to operate in what looks set to be a huge market. A recent International Betting Integrity Association study predicted Brazil could reach $34bn (£26.8bn/€31.1bn) in sports betting turnover by 2028.

EstrelaBet chief business officer Fellipe Fraga recently told iGB the company was waiting for the final regulations to be outlined before it applied for a licence.

“There are still important topics that need to be discussed in the process of obtaining the licence,” Fraga said.

Final betting ordinances published in Brazil

Those final ordinances were published in Brazil’s Official Gazette of the Union within the last couple of weeks. The industry is now responding with a flurry of licence applications.

Among the final ordinances was Normative Ordinance No 1,207, which focused on online games. It clarified which games would be allowed, including the controversial Fortune Tiger, which has faced criticism due to influencer advertising.

Also included in the final ordinances were regulations on responsible gambling, state contributions, monitoring and inspection as well as the sanctions available to take action against operators straying the wrong side of regulations.

How many more operators will apply?

Udo Seckelmann, head of gambling & crypto at Bichara e Motta Advogados is predicting up to 60 operators to apply for a licence in Brazil ahead of the 20 August deadline.

Meanwhile, Aposta Ganha CCO Hugo Baungartner was more conservative with his estimate. He anticipates between 20 and 25 operators will submit application requests.

Baungartner said Aposta Ganha would apply for a licence in the first week of August, though it hasn’t yet submitted its request.

Which operators have applied?

The 13 operators to submit licence applications so far in Brazil are as follows:

Original article: https://igamingbusiness.com/legal-compliance/licensing/estrelabet-sportybet-brazil-betting-licence-applications/