Novibet Applies for Brazilian Gaming License in Regulated Market
Novibet, the online sports betting and casino operator, has announced it has applied for an online gaming license in Brazil during the 90-day window outlined by the gaming regulators in the country.
Novibet applies for online gaming license in Brazil.
LISTEN TO THIS ARTICLE:The operator is among a group of global operators hoping to be approved for the relaunched gaming market in Brazil at the start of next year. This comes as Brazilian gambling regulators are in the process of restructuring the gaming framework in the region, with the online market changes coming into legislation at the start of next year.
Gaming operators that wish to register for the new type of betting license have around three months to apply and if approved the Brazilian regulator will issue a new set of licenses at the start of next year.
Novibet is now one of eighteen other tier 1 gaming operators that have shown an interest in operating in Brazil including Betano, SuperBet, Sportingbet, and Betfair. In May Novibet joined the IBIA, in order to demonstrate its commitment to sports betting integrity and in preparation for this application for a Brazilian license.
More Regulation News
Brazil to Modernize Online and Land-Based Gambling Legislation
The Brazilian authorities are in the process of modernizing the country's gambling laws. They have already begun to change the current online gambling legislation by inviting gaming operators to apply for a gaming license for next year.
Recently, the regulators in Brazil turned their attention to amending the current gambling legislation regarding the retail-based sector in the jurisdiction. The Senate of Brazil began to debate on Bill 2,234/22 which outlines gambling legislation and was proposed by Senator Irajá Abreu, the chief sponsor of the changes. The new changes are wide-ranging to the retail gambling sector and include bingo venues and casinos.
We are super excited to be part of the first group of companies in Brazil to submit an application to obtain a license. Novibet always advocated for regulation and responsible gaming. We have a long history of operating in highly regulated markets and launched in Brazil when we became aware of the plans to regulate the sector. Submitting our petition for a licence is an important step on our path to participating in the regulated market.
RELATED TOPICS: Regulation
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