Pay4Fun, the first payment institution authorized by the Central Bank of Brazil to operate in the entertainment and sports betting segment, generated R$2.6 billion in the first half of 2024.
This value represents an increase of 121% compared to R$1.2 billion in the previous year. Operating revenues also doubled, reaching R$54.5 million in the same period.
Growth of sports betting in Brazil
The sports betting market in Brazil continues to grow rapidly. From January 2025, new regulations will come into force, providing greater security for consumers.
Leonardo Baptista, CEO and co-founder of Pay4Fun, states: “Since our founding in 2018, we have operated in full compliance with current regulatory standards. The safety and well-being of consumers must be guaranteed, allowing everyone to place their bets responsibly and consciously.”
In September, Regis Dudena, Secretary of Prizes and Betting, published an ordinance that banned betting sites without authorization from the Ministry of Finance from October 1st. The blocking of these sites began on October 11, creating opportunities for companies to adapt to the regulations.
Leonardo Baptista highlighted: “Pay4Fun appears as an ideal partner for operators to adapt to the rules of the regulated market. Since our founding, we have offered solutions that guarantee security, agility and ethical compliance. All of this is important for sports betting in Brazil to continue growing in a responsible and honest manner.”
In the first half of 2024, Pay4Fun developed an innovative transactional account for online betting. The account is fully compliant with payment laws, including Pix features. It also benefits unbanked users with prepaid credits.
The company’s CEO explains: “With this account, users can register a Pix key to make deposits, transfers and receive prizes, in addition to making payments via QR Code.”
“This change brought greater agility and convenience, allowing customers to carry out transactions both between their Pay4Fun transactional account and with other banking institutions. Since July 8th, the new feature has been available for download on the App Store and Play Store.”
About Pay4Fun
Pay4Fun was founded in 2018 and is the first payment institution in the sports betting sector to receive authorization from the Central Bank of Brazil. In 2023, the company turned over R$8.1 billion.
In 2024, it won the Payments Innovation category at the SBC Awards and reached 10th place in the GPTW Ranking of medium-sized companies.
In the same year, it achieved the RA 1,000 seal from Reclame Aqui, reached 3rd place as best financial service company in GPTW and gained recognition at the SBC Awards in Barcelona for payment innovation of the year.
