Rio de Janeiro Grants Accreditation to 13 Sports Betting Companies

In a move to regulate the betting industry, Argentina's Rio de Janeiro Lottery has awarded licenses to 13 sports betting companies. These companies, overseen by the regulatory body, were required to submit their applications by May 14 to operate within the region.

While one organization awaits the payment of its license fee and eight others await documentation review, an additional 20 have initiated but not completed the accreditation process. With licenses granted in Rio de Janeiro, these platforms gain the ability to serve clients nationwide.

However, concerns have been raised regarding the fairness of competition, particularly in light of discrepancies in licensing fees. While the operating license fee stands at BRL 5 million (approximately $1 million), the federal government mandates a fee of BRL 30 million (nearly $6 million). To address this issue, legislation was amended in March to ensure more equitable conditions for operators. The Ministry of Finance emphasized the need for city authorities to act within their respective territories.