Flag of Brazil. Source: Global Sherpa

Brazil Sets Deadline for Gaming License Applications

The Brazilian government has mandated that gaming operators must obtain a license by the end of 2024 to continue operating in the country or face substantial fines. According to the latest regulation, an "adjustment period" has been established during which operators must comply with the new regulatory framework to enter the betting market. Applications submitted within 90 days of the ruling will receive priority processing.

Licensed operators will be granted a five-year license upon payment of a fee of 30 million Brazilian reais ($5.9 million) and will be authorized to offer gambling and sports betting services.

While some sources indicate that the government aims to issue licenses in the fourth quarter of the year with an official launch planned for January 2025, others believe this timeline may be overly ambitious and expect potential delays. The regulation outlining the application process was initially anticipated in April.

26 May 2024, 08:00

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