Betsson, Galera.bet, and F12.bet have joined the growing number of betting applicants in Brazil following the publication of the country’s final regulations.
With less than two weeks until the government’s initial submission deadline of August 20, approved early applicants are guaranteed a license by the market launch date.
The three operators join a growing list of candidates. Earlier, Betano and Rei do Pitaco submitted their applications in May and July, respectively, to name two companies vying for the licenses.
Swedish giant Betsson entered the Brazilian market in 2019 by acquiring a 75% stake in Suaposta and has since invested significantly in the region, with Latin America accounting for 23% of its regulated revenues in Q2.
Meanwhile, Galera.bet, operational in Brazil since 2022, joined the International Betting Integrity Association in August 2023; while Lisbon-based F12 launched its betting product in Brazil in 2021.
The International Betting Integrity Association projects Brazil’s betting sector could reach $34 billion in turnover by 2028.
Last week, the Ministry of Finance’s Secretariat of Prizes and Bets (SPA) released final regulations, outlining requirements for state contributions, monitoring, inspection, responsible gambling, and sanctioning operators. Normative Ordinance No 1,207 permits licensed betting brands to offer online games.
Original article: https://www.yogonet.com/international/noticias/2024/08/09/74693-brazil-betsson-galerabet-and-f12bet-apply-for-betting-licenses-ahead-of-deadline
