Banknotes against the background of the Brazilian flag. Source: Shutterstock

Brazil has accepted 113 applications to operate gambling operations in the country

Brazil has received 113 applications for gambling licences in the country, marking the conclusion of the application period.

On the final day alone, over 50 new applications were submitted. Among the applicants are several renowned companies, including Betfair, Betsson, Caesars Entertainment, Sportingbet, Stake.com, and bet365.

The application process commenced on May 21, with Greek operator Kaizen Gaming being the first to apply just five days later. Many Brazilian gambling companies soon followed. While some operators opted to apply early, others waited until the end of the submission window, citing their readiness and understanding of Brazil's evolving gaming regulations.

Operators that did not meet the deadline will still have the opportunity to apply for a licence, although their process may take significantly longer. This delay could result in missing out on the market launch scheduled for January 1, 2025, when gambling and betting companies will be permitted to offer their services. Analysts project that the regulated betting market could reach a turnover of $34 billion by 2028.

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