Interested operators ‘expected to grow’ as Brazil gambling bill signed

A total 134 betting firms have now expressed interest in operating in Brazil, with the market looking set to become one of biggest in the world.

Prior to the new law that was passed to regulate sports betting and online gaming, some interested gambling companies included; Kaizen Gaming (Betano), 1XBET, Meridianbet, Pixbet, Betfair, LeoVegas, Betway and Draftkings.

Further operators also seeking licences were Rush Street Interactive, Scientific Games, Skill On Net, Livescore, Codere, TK 88 Holdings as well as Playbook Gaming, to name a few.

Although the number of companies interested in operating in Brazil is expected to grow, the 134 companies (full list here) have been promised priority in authorisation requests as soon as the deadline for receiving documents – and paying for participation in the bidding – opens.

It was announced only last weekend that Brazil President Luiz Inácio ‘Lula’ da Silva signed Bill PL3626/23 into law, which will now establish the regulatory framework for Brazil to launch its federal sports betting marketplace.

Authorised by Lula on 30 December, the President’s endorsement completed the legislative process, steering clear of the 2022 impasse when former President Jair Bolsonaro withheld federal sign-off of sports betting.

Meanwhile, the special advisor to the Executive Secretary of the Ministry of Finance, José Francisco Manssur, has now released a statement on his official LinkedIn profile, in which he reviewed the scope of the regulation.

He highlighted that the ordinances that will create a regulatory framework for the departments of Finance have not yet been published for the betting and gaming industry, such as marketing and sponsorship guidelines.

Manssur emphasised: “Don’t bet on ‘anything goes’. Regulation serves the exact opposite of this, that is, to set rules and limits. Do not doubt the State’s ability to regulate, monitor and punish those who act outside the rules and cause harm to people.”

It has also been announced that the Senate’s Economic Affairs Commission (CAE) proposals for fiscal and tax structures have been maintained, and licensed operators in Brazil’s federal market are set to face a 12% tax, whereas player prizes will be taxed at 15%.