Brazil Swamped With iGaming License Applications
113 companies have applied for the first official Brazilian online gaming and betting licenses in Brazil, with more than 50 of those applications arriving on deadline day.
Brazil will officially launch its licensed online gambling industry on January 1st 2025 and the best casinos in the business have been queuing up for a piece of the action. Betano, Betsson, Bet365, Stake, Betfair, Betway and more have applied for licenses in this lucrative market. Brazil is the biggest market in South America by far and remains one of the largest untapped markets for igaming companies.
All firms that applied for a license have to establish a local HQ, create a subsidiary company with a Brazilian national holding 20% of the share capital and maintain a proper financial reserve of almost $1 million (BRL 5m). There is also a license fee of more than $5 million per year, which has done little to dissuade the big names that are determined to conquer Brazil.
The current market leaders in Brazil are Betano, bet365, Sportingbet, Esportes da Sorte and BetNacional. Most of Brazilian’s online gambling in recent years has been through offshore platforms, but the Brazilian government has finally put a structure in place and 2025 will be a landmark year for igaming in Brazil.
