SBC News Voice of the Sports Betting Industry
Betfair is the latest company to have paid the 30m BRL (£3.9m) licensing fee to operate under the regulated Brazilian market in 2025.
After submitting a license application, the firm was given the go-ahead as it fully compiled with the requirements set out by the Ministry of Finance and its Secretariat of Prizes and Bets (SPA).
According to SBC Noticias, the operator needed to prove technical experience in the sector, the minimum social capital, the implementation of robust security systems and the dissemination of responsible gambling practices, among other requested requirements.
Kimberly Daly, General Director of Betfair, said that “this is a very important moment for Betfair”, highlighting that the company is strictly following the new industry rules to ensure obtaining the license and being able to operate throughout the Brazilian territory.
“It is also another unquestionable demonstration of our commitment to the responsible development of the online betting sector in Brazil. We are proud and excited to take this step further in the journey that began six years ago, which will allow us to continue bringing our Brazilian customers and sports enthusiasts the best entertainment experience,” added Daly.
Betfair will offer services through the brands Betfair Sports, Betfair Exchange and Betfair Casino.
In addition, Betfair stressed that it is a founding member of the Brazilian Institute of Responsible Gaming (IBJR), and that it is working with the Institute to “shape the development of robust and modern regulation” in accordance with international best practice.
The goal is to grant federal licenses by the end of this year, so that companies that have met all the requirements, such as Betfair, can start operating legally from 1 January 2025.
Betfair joins Superbet, a multinational operator headquartered in Bucharest, as one of the first companies to pay for the federal license.
