Zona de Azar Brazil – Brazil: F12 Bet, Galera.bet and Betsson Apply for Licenses
Brazil.- August 8, 2024 www.zonadeazar.com F12 Bet, Galera.bet and Betsson recently submitted authorization requests to the Secretariat of Prizes and Betting (SPA). The companies seek to operate the fixed counterpart online betting market in Brazil, following the regulations of the Ministry of Finance.
Bet F12, 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, is based 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 the Sertanejo Circuit.
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 to register 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, fiscal 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. Additionally, SPA/MF will notify applicant companies within 150 days from the date of application submission.
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 at the end of this year. Therefore, the government hopes to issue the first authorizations at the end of the second half of 2024.
Editó: @_fonta www.zonadeazar.com
