On Thursday, July 25, Sportingbet officially applied for a Brazil sports betting and iGaming license. In quick succession, the following day, Caesars Sportsbook’s licensee, Big Brazil, also submitted its application. These applications place Sportingbet and Caesars Sportsbook alongside industry giants like Betano, Superbet, and Rei do Pitaco, who have already filed their submissions.
In a strategic move to capitalize on the initial 90-day preference period, Sportingbet and Big Brazil have submitted their applications to the Secretariat of Prizes and Bets (SPA) under the Ministry of Finance. This proactive step ensures their applications will be given priority consideration.
Prioritization under SPA
By applying early, Sportingbet and Big Brazil are likely to benefit from expedited processing by SPA. These companies are keen on leveraging this preferential window to enhance their market position.
Implications for the betting industry
This timely application underscores the importance of strategic planning in the competitive betting landscape. Prioritization by SPA could provide these companies with significant operational advantages.
The new gambling licenses in Brazil will be issued for a duration of five years and will cost BRL30m (£4.6m/€5.4m/$5.9m) in fees. License holders will be permitted to offer gambling services through three different skins. Operators who do not obtain a license by 1 January 2025 will face serious punitive measures.
Key information
- License Duration: 5 years;
- Licence Fee: BRL30m (£4.6m/€5.4m/$5.9m);
- Allowed Gambling Skins: 3;
- Deadline for Obtaining Licence: 1 January 2025;
Fees comparison table
| Currency | Amount |
|---|---|
| BRL | 30,000,000 |
| GBP | 4,600,000 |
| EUR | 5,400,000 |
| USD | 5,900,000 |
License applications see an uptick as August 20 deadline nears
With exactly three weeks remaining until the August 20 deadline, the count of license applications stands at a modest five. Notably, four of these submissions have been made during July. Despite the initially slow uptake, Hugo Baungartner, CCO of Aposta Ganha, is optimistic. He anticipates a surge in license applications as the deadline approaches.
Crypto and gambling compliance – regulatory rollout expectations
Despite the delayed regulatory rollout, Bichara e Motta Advogados’ head of crypto and gambling, Udo Seckelmann, still expects up to 60 operators to submit applications by 20 August. Conversely, Baungartner anticipates a more conservative figure, projecting between 20 and 25 applicants by the deadline.
Caesars Entertainment has successfully completed a Proof of Concept (PoC) for the Rio de Janeiro State Lottery (Loterj), aiming to manage sports betting and iGaming operations in the state. The initiative follows Big Brazil’s March announcement, where it expressed intentions to obtain Loterj accreditation.
Key highlights
- Completion of PoC for Loterj;
- Focus on sports betting and iGaming;
- Progress towards achieving Loterj accreditation;
The next steps for Caesars
With the submission of the PoC, Caesars is now poised to await Loterj’s decision on accreditation, marking a significant milestone in their expansion within the Brazilian market.
