The companies SportyBet and Reals advanced in the Brazilian sports betting and online gaming market, starting the licensing process with the Ministry of Finance.
Both followed the protocol of the Secretariat of Prizes and Bets (SPA/MF), demonstrating commitment to the legality and regulation of the sector in Brazil.
SportyBet and Reals join other bookmakers
Blac Jogo Ltda, the company responsible for SportyBet, filed its authorization request with SPA/MF, complying with all the guidelines set out in Ordinance 827/24. SportyBet is a platform recognized for its rapid expansion and prominent partnerships in football, including names such as Éder Militão and Michael Essien.
Following the same path, Reals, voted the best bookmaker of the year at the SiGMA Awards, also officially applied for a license to operate in the country. Reals already has a strong presence in the sport. The company sponsors clubs such as Coritiba and Amazonas and has famous influencers such as Rodrigo Faro and Gabriela Nery.
In other words, both companies are awaiting analysis by the SPA/MF, which must notify applicants within a period of up to 180 days.
But those who filed their requests within the first 90 days can shorten this process. So, to obtain authorization, both SportyBet and Reals must meet strict criteria, which include:
- Legal qualification
- Tax and labor regularity
- Suitability
- Economic-financial and technical qualification
In addition, they need to pay a grant of R$30 million, which allows them to explore up to three commercial brands in Brazil for five years.
Complete list of bookmakers
With these new requests, there are now 13 platforms requesting registration to operate in Brazil, the others are:
- Betano
- SuperBet
- Rei do Pitaco
- Sportingbet
- BIG Brazil/Caesars Sportsbook
- NSX (Betnacional, Mr. Jack Bet and Pagbet)
- KTO
- Betsson
- F12 Bet
- GaleraBet
- EstrelaBet
Therefore, the expectation is that the first authorizations will be issued in the second half of 2024, with regulated operations effectively starting in 2025.
In short, this movement is seen as a milestone in the sector, bringing greater security, supervision and responsibility to sports betting and online gaming in Brazil, since the legalization of the activity in December 2018.
