Brazil applications up to 10 with Betsson among requests

Betsson, Galera.bet, and F12.bet have recently entered the burgeoning Brazilian betting landscape, following the recent publication of comprehensive regulatory frameworks.

With the government’s initial submission deadline approaching on August 20, there remains a narrow window for prospective operators. This deadline is critical, as those who secure licenses will be primed for a pivotal market launch.

The latest entrants—Betsson, Galera.bet, and F12.bet—join established players like Betano and Rei do Pitaco, which have already submitted their applications earlier this year in May and July.

Betsson, a prominent Swedish gaming operator, established its footprint in Brazil back in 2019, acquiring a 75% stake in the Brazilian sportsbook Suaposta. The firm has demonstrated a robust commitment to the region, with Latin America accounting for an impressive 23% of its regulated revenues in the second quarter of this year.

“We believe we can position ourselves in Brazil more rapidly than larger competitors,” remarked Andre Gelfi, Betsson’s managing partner for Brazil, in an interview with iGB. “Our superior product offering and esteemed brand reputation position us advantageously—reputation is paramount in our industry.”

Galera.bet has been operational in Brazil since 2022 and has recently strengthened its industry credibility by joining the International Betting Integrity Association (IBIA) in August 2023.

Meanwhile, Lisbon-based F12.bet launched its betting platform in Brazil in 2021, signaling its intent to capture market share in this dynamic environment.

Brazil’s Betting Industry Poised for a 2025 Launch

The IBIA forecasts that Brazil’s betting sector could reach a remarkable turnover of $34 billion (£26.8 billion/€31.1 billion) by 2028, highlighting the market’s vast potential for both operators and stakeholders.

In a pivotal move, the Secretariat of Prizes and Bets (SPA), part of the Ministry of Finance, unveiled final regulations outlining critical requirements for state contributions, monitoring, inspection, responsible gambling practices, and penalties for non-compliance among operators.

Normative Ordinance No 1,207 has officially authorized licensed brands to commence offering online gaming services, paving the way for a regulated online betting environment.

Which Operators Have Applied?

As of now, ten operators have submitted applications for licensing in Brazil. The details are as follows:

As Brazil approaches a new era in regulated sports betting, the initiatives of these forward-thinking operators signal a significant shift. The evolving regulatory landscape presents both opportunities and challenges, emphasizing the need for innovation and integrity in this competitive market.