Brazil gambling regulator receives 113 licence applications
The window for Brazilian online gambling licence applications has closed.
Brazil.- Some 113 operators have applied for online gambling licences in Brazil ahead of the closure of the 90-day priority application window on August 20. That’s a steep increase from a mere six operators that had applied before full technical rules for online sports betting and igaming were published at the start of this month.
Brazil’s regulated online gambling market is expected to launch on January 1 2025. The final number of applicants who applied within the window is below the total of 134 that had initially expressed interest but will still be seen as a positive result for the Brazilian government, surpassing the SPA’s expectation of 40 applications.
It also means that the new regulator has a lot of applications to process in just four months. Operators have been told that they can expect to hear whether their documents are sufficient within around 35 days.
The IBIA has predicted that the Brazilian gambling market could be worth €31.1bn a year by 2028. Late applicants have included MGM Resorts and Grupo Globo, who last week confirmed the formation of a new venture to seek a licence for the BetMGM brand.
