There is less than two weeks until the government’s 20 August initial submission deadline, which guarantees applicants in the first wave will receive a licence by the market launch date.
Betsson, galera.bet and F12.Bet have this week joined the likes of Betano and Rei do Pitaco, who made their submissions in May and July respectively.
Swedish operator Betsson moved into Brazil in 2019 by acquiring a 75% stake in Brazilian sportsbook operator Suaposta, while local brand galera.bet.
Betsson has invested heavily in Brazil. LatAm accounted for 23% of the operator’s regulated revenues in Q2.
“I think that we have the possibility of tackling [Brazil] quicker than the big brands,” Betsson managing partner for Brazil Andre Gelfi previously told iGB. “We have a good product, we are a very respected brand. I think reputation is a critical aspect of our industry.”
Galera.bet has been operating in Brazil since 2022. The locally based brand joined the International Betting Integrity Association in August 2023.
Lisbon-based F12 launched their betting product in Brazil in 2021.
Brazil betting on course for 2025 launch
The IBIA has projected Brazil’s betting sector could hit $34bn (£26.8bn/€31.1bn) in turnover by 2028.
The ministry of finance’s Secretariat of Prizes and Bets (SPA) released its final regulations last week, detailing requirements on state contributions, monitoring and inspection, responsible gambling and sanctioning operators.
Normative Ordinance No 1,207 gave licensed betting brands the green light to offer online games.
Original article: https://igamingbusiness.com/legal-compliance/licensing/brazil-licence-applications-betsson/
