Brazil Extends Deadline for Betting License Applications
Loterj has reopened the betting accreditation application window to meet the high demand for regularization in the state of Rio de Janeiro.
Brazil is set to launch its regulated iGaming and sports betting market by January 1, 2025.
LISTEN TO THIS ARTICLE:Starting September 5, companies seeking accreditation in Brazil’s iGaming and fixed-odds sports betting markets now have 15 days to submit their applications.
Since the introduction of Ordinance 1,207, which outlines the regulatory framework for fixed-odds betting operators, over 100 applications have been submitted for iGaming licenses in Brazil.
The new ordinance published by the Prizes and Betting Secretariat of Brazil’s Ministry of Finance focuses on standards for online gaming platforms and live gaming studios. It mandates that operators obtain a license from a recognized organization by the Prizes and Betting Secretariat and publish a payout table listing all winning outcomes before accepting bets.
Additionally, all online games, whether operated by local or international companies, must be certified by SPA-recognized entities, including GLI, eCOGRA, and BMM Testlabs.
However, the ordinance does not cover games of skill, fantasy sports, multi-bettor games, and peer-to-peer betting as the regulator concluded that they do not qualify as fixed-odds online betting games.
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Operators Vie for Early Lead in Brazil
With the high level of interest from operators, it's clear that Brazil's regulated sports betting market, launching on January 1, 2025, will be highly competitive. Anticipating this, some companies have already begun repositioning their strategy to gain a competitive edge before the market opens.
For instance, in August, KTO exited Peru and Chile to focus on its upcoming launch in Brazil. The company, which was among the first 17 operators to submit applications for a betting license in Brazil, aims to capitalize on first-mover advantage in the emerging licensed market.
MeridianBet is another company looking to gain a competitive edge in the market. Last month, Golden Matrix announced that its subsidiary Meridanbet was shortlisted for a license in the soon-to-launch Brazil’s iGaming and sports betting market.
The group was optimistic that its inclusion in the priority group would increase its chances of securing a license ahead of the launch and allow it to leverage its early lead in the sector.
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