As the deadline for sports betting and iGaming license applications in Brazil approaches, major industry players Big Brazil and Sportingbet have officially submitted their applications, indicating their readiness to partake in Brazil’s burgeoning betting sector. These applications, listed in the Betting Management System (Sigap) of the Ministry of Finance, mark a significant step toward participating in one of South America’s largest regulated markets.
Big Brazil, leveraging the Caesars Sportsbook brand, is one of the notable applicants seeking to expand its operational footprint with a federal license, according to Games Magazine Brazil. This move aligns with its strategy to capitalize on the extensive market potential in Brazil, particularly targeting the densely populated state of Rio de Janeiro. The company’s leadership expressed optimism about their technology’s approval following a successful Proof of Concept (PoC) demonstration to the Rio de Janeiro State Lottery (Loterj).
Sportingbet, owned by the global gaming conglomerate Entain Group, also stands among the early applicants, according to the same source. Known for its robust betting platforms, Sportingbet aims to strengthen its position in Brazil, a market where it has served as one of the pioneering sportsbooks. The application through its subsidiary, Ventmear do Brasil, underscores its commitment to complying with the local regulations set forth by the Secretariat of Prizes and Bets (SPA).
The regulatory body has set a 90-day priority window for processing applications submitted by August 20, with a promise to finalize decisions by January 1, 2025. This regulatory push is part of Brazil’s efforts to formalize and control the sports betting landscape, which has seen a rapid increase in consumer interest and participation.
An Eagerly Expected Regulated Market
According to the National Association of Games and Lotteries (ANJL), the license application process is rigorous, requiring extensive documentation and adherence to stringent requirements. ANJL’s president, Plínio Lemos Jorge, highlighted the complexity of the process, noting that being listed on Sigap indicates that a company has met all preliminary requirements to operate within the regulated framework.
The forthcoming regulation is eagerly anticipated by both local and international stakeholders. It is expected to establish a structured and sustainable gaming environment that protects consumers while fostering economic growth through the gaming sector. This development is particularly significant as Brazil positions itself as a pivotal market in the global gaming and betting industry.
While the federal licensing process progresses, Big Brazil is also pursuing a state-level accreditation in Rio de Janeiro, which could potentially allow it to operate nationwide, given previous precedents set by Loterj. This strategic move could position Big Brazil favorably within both state and national contexts, amplifying its impact across Brazil’s extensive market.
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