Six new Brazilian operators apply for licenses after warning of suspensions
Earlier this week, the government announced that starting in October it would ban sites that have not applied for a license.
Brazil.- The Ministry of Finance has given unlicensed operators a deadline of October 1. After that, any gambling business that has not applied for a Brazilian online gambling license will see its operations suspended ahead of the launch of a regulated market on January 1.
After this announcement, six new companies submitted a request to obtain a license. The six new applicants bring the total to 119.
While the ministry may not approve the six new businesses by market launch, the applications will mean the companies can continue operating past the 1 October deadline.
The new applicants are:
- Wudy Pay Correspondente de Instituição Financeira.
- JBD Comunicação e Tecnologia.
- Boa Sorte Prêmios.
- Amplexus Corporation.
- BRX Gaming.
- Nexus International.
The other license applications submitted ahead of the initial 20 August deadline comprise many of the largest operators in Brazil. The ministry has previously warned those who apply after this date will face extra delays and potential penalties.
Licensees will be expected to pay a licensing fee, as well as follow strict rules if they wish to operate in Brazil.
See also: Giovanni Rocco Neto to serve as Brazil’s first national secretary of sports betting
Many experts are excited by the prospects of regulating betting and iGaming in the Latin American country, believing that it has a huge untapped potential and could very well become one of the biggest markets.
As Brazil continues to regulate gaming, it also seeks to protect players from harm. To that end, the Brazilian Federation of Banks just demanded that the government accelerate the ban on using credit cards to pay for online wagering. This demand came amid growing concerns about problem gambling.
