With less than three weeks to go before the August 20 deadline, only five bookmakers, known as “bets”, have requested authorization from the Ministry of Treasury to operate in Brazil from January 1, 2025.
The companies that filed the request are Betano, Superbet, Rei do Pitaco (specializing in fantasy sports), Sportingbet and Caesars Sportsbook.
The Prizes and Bets Secretariat of the Ministry of Treasury will analyze all applications submitted by August 20th later this year. Companies that do not obtain authorization by the first day of 2025 will be prohibited from operating in Brazil until they obtain the necessary registration. The analysis process could last until December.
To register, bets must provide a series of documents, including proof of Brazilian capital, and pay a grant worth 30 million reais.
Legislation and licenses for betting companies in Brazil
Federal government regulations on sports betting require sites to pay R$30 million for a license to operate for five years.
The Minister of Treasury, Fernando Haddad, stated that he intends to obtain significant revenue from online betting, estimating R$15 billion in taxes. Furthermore, regulation requires betting sites to be based in Brazil to be able to receive bets from Brazilian consumers.
Currently, these sites operate in tax havens, as gambling is legalized but not regulated in the country. Therefore, only operators based in Brazil will be able to continue to sponsor football teams.
It is worth noting that the ministry published five ordinances this Wednesday and Thursday, defining crucial points for the sector’s legislation, such as the rules for advertising, responsible gaming and the rights and duties of bettors and operators.
