Rivalo announced that it has successfully completed the application protocol to enter the regulated sports betting and on-shore gaming market in Brazil. This market is expected to come into operation from January 1, 2025.
With regulatory approval, the new operation in the country will be integrated into the existing portfolio. This portfolio also includes a license in force in Colombia since 2018.
Brazil, with more than 170 million active users, is not only the largest country in Latin America in terms of population and online presence, but also ranks fifth in the ranking of the largest social media markets in the world.
Given this scenario, Rivalo expresses enthusiasm in participating in the new regulated gaming market in Brazil. Furthermore, the company is committed to offering sustainable alternatives to local customers.
Daniel Eskinazi, who recently took on the role of General Director of Rivalo in Brazil, stated: “With a local presence and a new license we will be closer to the Brazilian sports fan, offering new products and entertainment options.”
According to Eskinazi, Rivalo, which has been operating since 2016, has already gained the trust of bettors in Latin America and seeks to position itself as a prominent operator in the Brazilian market.
Betting regulations in Brazil
The deadline to apply for sports betting and online gaming operating licenses in Brazil recently closed, with 113 interested companies.
The Federal Government expects to raise more than R$3 billion, and approved operators will be able to have up to three betting platforms valid for five years.
Furthermore, the payment of a grant of R$30 million is one of the rules established by the Ministry of Treasury.
About Rivalo
Rivalo is one of the pioneering platforms in Latin America, operating since 2016 with a wide range of sports betting and a diverse portfolio of casino games. The brand also has former player Cafu as an ambassador.
Cafu, who holds the record for appearances for the Brazilian Men’s National Team with 142 appearances, was a two-time world champion and captain of Brazil’s victorious campaign at the 2002 World Cup.
