Paysafe (NYSE: PSFE), a global payments platform, today announced that it has received approval from the Central Bank of Brazil (BCB) for a payment institution (PI) license for the country’s launch of its regulated online sports-betting and gambling market. The license allows Paysafe to expand its payment partnerships with iGaming operators into Latin America’s most populated country as well as support Brazilian merchants in a range of other industries with eCommerce payments. The PI license enables Paysafe, which also recently joined the Brazilian Association of Fintechs (ABFintechs), to deepen its substantial footprint in the regulated Latin American iGaming space. The 90+ regulated global iGaming jurisdictions where Paysafe currently has a presence include Argentina, Colombia, Mexico, Panama, Paraguay, Puerto Rico, and, most recently, Peru, whose new regulated market went live in early 2024.

With a population of 212 million and projected sports-betting turnover of $34 billion by 2028, Brazil is expected to eclipse all other Latin American jurisdictions in size – and Paysafe is strongly positioned to support the market’s growth potential. In addition to being able to extend its established partnerships with leading international operators into Brazil, Paysafe offers a suite of payment choices catering to Brazilians’ diverse payment preferences.

By partnering with Paysafe, Brazilian operators can offer their customers Skrill and NETELLER, the most established digital wallets developed specifically for iGaming, as well as a range of other alternative payment methods (APMs) via Paysafe’s SafetyPay payment gateway, including instant bank transfers using BCB’s Pix payment system.

Beyond online sports-betting and iGaming, Paysafe’s PI license allows the company to support Brazilian eCommerce, travel and entertainment merchants as well as digital content creators with its suite of APMs.

“With this expansion, Paysafe is poised to better serve the Brazilian market with payment solutions, including the regulated Brazilian iGaming market, which will mark a new era for not only Latin American gaming but also the global space, with the country becoming the third largest betting jurisdiction on earth,” said Rob Gatto, Chief Revenue Officer at Paysafe. “We’re delighted to bring our deep payments, regulatory and compliance experience into play in this important new market to support Brazilian operators’ growth with our payment solutions following our new payment institution license, which will also allow us to streamline online transactions for local travel and entertainment merchants.”

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Global omni-channel platform provider TG Lab has entered the regulated Brazilian market, where it will power leading sportsbook and casino operator, Stake.

The entry into Brazil marks TG Lab’s third market launch with Stake, following Colombia and Peru earlier in 2024. This strategic partnership is expected to flourish in 2025 with further regulated market entries in the pipeline.

TG Lab’s milestone entry into Brazil underscores the leading platform provider’s commitment to empowering global and regional gambling operators in regulated markets, with its proven, innovative and highly localised platform.

Stake will gain access to TG Lab’s omnichannel platform, which offers a full-stack solution as well as a flexible set of modules for the operator to elevate its offering across this newly regulated market.

This expansion is bolstered by TG Lab’s recent acquisition of local Brazilian platform provider and game studio, SysGaming – which has allowed the leading platform provider to deliver bespoke, real-time content and support to LatAm partners in their local language.

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Commenting on the announcement, TG Lab Chief Executive Officer Ugnius Simelionis said: “Stake is a true powerhouse of the gambling industry, having become a household name around the world. Our track record of success with them across LatAm is the reason why they have chosen us to take the brand live in Brazil.

“TG LAB has ambitious plans to make big moves across Latin America – and Brazil presents the perfect opportunity for us to showcase how we offer the best localised B2B product on the market.”

TG Lab has continued to grow its footprint across regulated markets over the last 12 months, having entered six new regulated territories – including Argentina, Brazil, Colombia, Peru, Paraguay and Kazakhstan.

Throughout 2025, the platform provider plans to continue this expansion across regulated markets around the world. Having made significant headway in dominating the Latin American market, TG Lab is also eyeing up new growth opportunities in North America after being granted a licence by the Alcohol and Gaming Commission of Ontario (AGCO) in December 2024.

Global gaming powerhouse SkillOnNet is among the first companies to receive provisional authorisation to operate in Brazil. The first SkillOnNet localised brands to launch in the newly regulated market are PlayUZU.bet.br and BacanaPlay.bet.br, two already successful European and Latam casinos but with very different features and USPs providing a wider choice to casino players in Brazil.

The licence represents a new milestone in the Latam market for the Malta-based gaming and entertainment giant. In recent years, SkillOnNet, through its awards winning PlayUZU brand, has made inroads into the regulated markets of Mexico, Peru, and Buenos Airies City in Argentina.

The new licensing regime came into force on January 1, 2025 after Brazil’s president Luiz Inácio Lula da Silva signed a bill into law to regulate and tax online gaming in December 2023.  Regulatory intelligence analyst Vixio predicts Brazil’s online gaming and betting will exceed $2.9bn in annual gross revenue in 2025, rising to almost $6.3bn in 2028.

Since its launch in Portugal in 2020, BacanaPlay has become a household brand name. In Portuguese, the world “bacana” means “cool,” which encapsulates the fun, friendly vibe of the brand.

PlayUZU.bet.br is the Portuguese language version of SkillOnNet’s flagship Spanish brand, which has already proved hugely popular in Latin America. PlayUZU is marketed as a “fair” online casino that offers players a unique package of benefits including no wagering requirements and money back on every bet, win or lose.

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SkillOnNet operates more than 40 brands in multiple regulated markets, globally. It also boasts one of the richest and most diverse gaming platforms in the world, with premium casino content from top software providers and a host of exclusive slots and dedicated Live casino tables.

Pedro Garcia Country Manager for Brazil at SkillOnNet said: “We believe Brazil will quickly become one of the biggest online gaming markets in the world. Our goal is to be a tier-one casino operator in this hugely significant new market by investing aggressively in marketing and brand development and establishing a strong local team. Our licensing in Brazil is a reflection of our commitment to regulatory compliance and to fair and responsible gaming, and we’re excited to showcase our specially localized high-quality content to a massive new audience.”