With less than two weeks to go until the government’s submission deadline on August 20th, those applying early are assured of receiving their licenses by the market’s launch date. This week, Betsson, Galera.bet, and F12.bet joined Betano and Rei do Pitaco, which filed their applications in May and July, respectively.
Swedish company Betsson entered the Brazilian market in 2019 by purchasing a 75% share in the Brazilian sports betting operator Suaposta. The company has made substantial investments in Brazil, with the Latin American market contributing to 23% of its regulated revenue in the second quarter. Betsson’s managing partner for Brazil, Andre Gelfi, commented, “We have a competitive edge in Brazil compared to larger brands due to our robust product and our well-regarded reputation—an essential factor in our field.”
Since 2022, Galera.bet has been active in the Brazilian market and became a member of the International Betting Integrity Association in August 2023. Meanwhile, F12, based in Lisbon, introduced their betting services in Brazil in 2021.
### Brazil’s Betting Market Prepares for 2025 Launch
According to projections by the International Betting Integrity Association, Brazil’s betting industry could see a turnover of $34 billion by 2028. The Ministry of Finance’s Secretariat of Prizes and Bets recently published comprehensive regulations which outline contributions to the state, oversight, responsible gambling measures, and penalties for operators.
Normative Ordinance No 1,207 was issued, allowing licensed betting firms to offer online gaming.
### Operators in the Application Process
The following ten operators have submitted applications in Brazil so far:
– **Betano** – 26/05/2024
– **Superbet** – 11/07/2024
– **Rei do Pitaco** – 19/07/2024
– **SportingBet** – 25/07/2024
– **Big Brazil** – 26/07/2024
– **Betnacional** – 01/08/2024
– **KTO** – 05/08/2024
– **Betsson** – 06/08/2024
– **galera.bet** – 06/08/2024
– **F12.Bet** – 07/08/2024