Brazil is actively preparing to launch a national regulated gaming market. The segment is expected to become one of the world’s largest gambling centres.
Thanks to the industry’s impressive potential, the local regulator received a record number of licensing applications. During the time allotted for pre-registration, 113 companies sent their documents to obtain a permit.
New Epoch for Brazil’s Gambling
Law 14,790, which regulates sportsbooks and casinos in the country, was signed at the end of 2023. Since then, the state’s government has initiated and implemented significant changes to launch the domestic entertainment market as quickly as possible.
The authorities created the SPA, a dedicated secretariat, within a few months. The new body took over all regulatory functions in the wagering and gaming niches. The commission began developing a technical structure for the federal RMG market.
The document will detail:
- AML standards;
- product and service advertising norms;
- requirements for user self-exclusion systems, etc.
The country introduced a 15% tax on winnings from sports bets, lotteries, and casino amusement. Initially, the ANJL criticised the established tariff, but the volume of licensing applications showed that the rate is quite acceptable for niche entrepreneurs.
Potential Industry Leaders
According to data in the state registry SIGAP, the Greek provider Kaizen Gaming was the first company to apply for a certification. The studio filed the documents back in May. Other candidates to enter the Brazilian gambling market submitted their requests later, in the summer.
Among major international brands planning to work in the country are:
- Stake;
- Meridian Gaming;
- Betfair, and many others.
All potential permit holders reported having offices registered in the state, which is consistent with local amusement regulation norms. Managers who want to work in the sports betting segment must also get membership in one of the global integrity monitoring bodies, like the IBIA.
Prospects for Brazil’s RMG Market
All 113 applications on the waiting list will be considered on a priority basis. Decisions on each request are expected to be made by mid-November. A broader launch of the regulated industry is planned for January 2025. The authorities plan to continue accepting petitions. Given the overall boom of interest, the review dates may be delayed.
The ANJL’s President stated that the situation in the local market will probably look different next year. In Plínio Lemos Jorge’s opinion, gaming will become one of the most honest, responsible, and well-regulated verticals with excellent prospects for global leaders.
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