Zona de Azar Brasil – Brazil: In the Last 24 Hours, 36 Companies Have Applied for Licenses

Brazil.- October 02, 2024 www.zonadeazar.com In the last 24 hours, 36 companies have applied for licenses to operate in the betting market through the Betting Management System (SIGAP) of the Secretariat of Prizes and Betting of the Ministry of Finance (SPA/MF).

With this, the number of license applications from companies intending to operate in the regulated market has reached 179. According to law no. 14,790/2023, each company can operate up to three commercial brands in Brazil. Thus, nearly 600 betting companies could be operating when the law takes effect in January 2025.

Today, October 1, the SPA will release the list of companies authorized to operate in the country. Companies that are not authorized will remain online for an additional ten days, allowing bettors to withdraw their winnings and deposited amounts from the platforms.

Applying for the license is just the first step. To operate, companies will have to pay a license issuance fee set at R$ 30 million, and, of course, comply with all the rules established by the law.

Among the companies that applied for licenses in the last 24 hours are: Lucky Soft Ltda, Las Vegas Entidade Operadora de Jogos e Apostas Ltda, Chega Bet Ltda, Brcrown Bet Ltda, Minas Bet Esportes Ltda, HI-Play Entertainment Brasil S.A., etc.

What Led to the Surge in License Applications

The rush to apply for licenses was due to Ordinance no. 1475/24, published on September 16, which established that only companies that applied for licenses by the end of September 30 would have the right to operate in the country during the adjustment period.

Edited by: @_fonta www.zonadeazar.com