F12 Bet, Galera.bet and Betsson recently filed authorization requests with the Prizes and Betting Secretariat (SPA). The companies seek to operate the fixed-odds online betting market in Brazil, following the regulations of the Ministry of Treasury.
F12 Bet, Galera.bet and Betsson
F12 Bet was launched in 2022, with former futsal player Falcão as one of the investors. The platform, operated by F12 Entertainment, has headquarters in Lisbon and Cyprus. In addition to F12.Bet, the company manages other brands linked to Falcão.
GaleraBet, operated by Match Time Solutions, has a license issued by Curaçao’s gaming regulatory authority, Curaçao eGaming. Currently, the platform sponsors traditional clubs such as Ferroviária and entertainment events such as Circuito Sertanejo.
Betsson, through Simulcasting Brasil Som e Imagem S/A., submitted its authorization request to SPA/MF. The Swedish company is popular in the Scandinavian region and has been expanding its presence in South America with a new smartphone app.
With these requests, there are now ten platforms requesting registration to operate in Brazil and join Betano, SuperBet, Rei do Pitaco, Sportingbet, BIG Brazil/Caesars Sportsbook, NSX (Betnacional, Mr. Jack Bet and Pagbet) and KTO.
Authorization process and deadlines
Companies that wish to operate in Brazil must meet criteria related to five categories: legal qualification, tax and labor regularity, suitability, economic-financial qualification and technical qualification.
If they meet all the criteria and pay R$30 million to the Union, the platforms will be able to explore up to three commercial brands in Brazil for five years. Furthermore, SPA/MF will notify applicant companies within 150 days after the date of filing the request.
Thus, the analysis period is up to 180 days, but as a transition rule, companies that request authorization in the first 90 days will receive a response later this year. Therefore, the government hopes to issue the first authorizations by the end of the second half of 2024.
