This Monday (5), KTO applied for an operating license in Brazil. Following the rules of the Ministry of Treasury, the application was registered at the Prizes and Betting Secretariat (SPA) through the Betting Management System (Sigap) in the name of Apollo Operations Ltda.
Initially, the company began its activities in the South region, but currently serves players across the country. Andreas Bardun, global CEO of KTO Group, highlighted that the license is exclusive to the KTO brand.
“We have been preparing for more than two years to be one of the first brands to apply for a license in the country. We are happy and excited about this new phase of the Brazilian market, which promises to be one of the largest in the world”, stated Bardun.
Request from other bookmakers to Sigap
Recently, Betnacional also took a significant step towards regulation in Brazil by filing its license application with Treasury´s Sigap. The objective is to obtain the necessary authorization to operate in the sports betting and fixed-odd online gaming market by the end of this year.
With the CNPJ already regularized and operating within Brazilian laws, Betnacional and Grupo NSX are now waiting for the green light to pay a fixed grant of R$30 million. This amount will allow Betnacional, in addition to its current operations, to also use the Mr. Jack Bet and Pagbet brands.
João Studart, CEO of NSX Group, emphasized the importance of this license: “Obtaining the Brazilian license is a significant milestone for us. It demonstrates our responsibility with the operation and integrity in betting.
Our expectation is to receive this authorization by the end of 2024, allowing us to start operating in our country in 2025.”
From January 1st, only authorized companies will be able to operate in the Brazilian market. Thus, with the August 20th deadline approaching, the Ministry of Finance has already received requests from other companies.
Thus, KTO and the NSX Group (Betnacional, Mr. Jack Bet and Pagbet) join other bookmakers such as Betano, SuperBet, Rei do Pitaco, Sportingbet and Big Brazil (Caesars Sportsbook), aiming to operate legally in the country.
