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.

24 August 2024, 09:51

Betting Brazil Licenses

Betting

ESPN Bet Could Launch in New York by Weekend

24 September 2024, 08:30

Brazil sets deadline for unlicensed gambling operators

18 September 2024, 15:49

BetMGM Becomes General Partner of USA TODAY Sports

17 September 2024, 09:01

Flutter Entertainment buys more than 56% of Brazil's NSX Group

14 September 2024, 10:06

Three times more bets were placed on the Paris Olympics than on the Beijing Games