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Brazil

Inside Brazil’s race to the finish line

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The buzz around a fully-regulated Brazilian sports betting market has been amplified since the passing of legislation in late December 2023. As operators await the publication of a regulatory framework later this year, many industry stakeholders are trying to prepare themselves for meeting licensing requirements.

Marc Crean, OpenBet’s VP for Latin America and Canada, shares predictions for the months ahead.

After a two-decade wait for a legalised gambling market, Brazil’s president, Luiz Inacio da Silva, has now sanctioned law 14790 to approve gambling regulation in the booming LatAm market. The government has been engaging key stakeholders and giving regular and transparent updates over recent months and the path to regulation looks optimistic with a thriving market is in sight.

There are strong opinions from all sides about Brazilian regulation and how it should look, yet there is great potential to create new revenue streams and jobs for the country, which is generally viewed as the jewel in the crown of LatAm’s sports betting market. However, before the market can operate smoothly, sustainably, and safely, the serious issues of match-fixing, money laundering and responsible gaming must be ironed out. A highly publicised investigation concerning allegations of widespread match-fixing is still ongoing, with seven professional football players charged for alleged crimes in the scandal.

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The government wants to establish a market that provides sports betting entertainment to Brazilians, generates revenue for the country and protects local players and institutions as quickly as possible, but the specifics of the regulations will change over time as technology develops. The framework must be flexible enough to cope with changing demands and stay one step ahead of illegal operations when it is finalised.

One introduction is a 12% GGR tax on operators, which is a sustainable rate and in line with other successful regions, as well as a 15% tax on bettors’ net gains. This is expected to generate R$3 billion in revenue for the Brazilian government each year. However, while the government will struggle to satisfy all stakeholders, taxes are not unique to Brazil nor to sports betting. Most market estimates have Brazil as third or fourth in the world in terms of size, and the proposed cost of a license is in line with UK and US costs.

What is clear is that Brazilian regulators must exercise caution on a proposed tax on player winnings. There is room to do this successfully based on how the tax imposition is implemented. It is in the law, so it is going to be in place, but the devil is in the details. It has been seen again and again how this type of tax, whilst well-intentioned, can reduce channelisation and end up pushing people to black market sites.

 

Shaping the industry of the future

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Brazil has its own unique cultural, social and economic dynamics that will have a major influence on product, operations and marketing activities. Regulation will create a massive amount of local opportunity both on the supply and the operator side of our industry. However, people tend to overestimate the need for local product and underestimate the need for local marketing and operations. This invariably creates opportunities for local companies and I think this is healthy for our industry.

Early-adoption, innovation and an unparalleled consumption of social media are three local dynamics that will have a massive impact on the shape of the industry. As always, companies with boots on the ground will be better placed to understand and tap into these areas.

When you add in the size of the market and the passion for sports, we can expect to see a lot of new ideas and innovations coming out of Brazil once the market fully opens up and starts to flourish.

Brazil

Meridianbet Passes Another Round in Brazil’s Exclusive Licensing Process

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Meridianbet has successfully advanced to the next stage in Brazil’s exclusive sports betting and iGaming licensing process. The company is one of only 89 operators (from over 600 initial applicants) shortlisted at the federal level by the Brazilian Ministry of Finance. This shortlist grants operators permission to continue offering sports betting and iGaming services nationwide during the adaptation period, which runs until December 31, 2024.
This important step places Meridianbet among an elite group of global operators as Brazil approaches the launch of one of the most highly anticipated gaming markets in the world. With non-listed companies set to be prohibited from offering services starting October 11, 2024, inclusion on this shortlist highlights Meridianbet’s technological excellence, commitment to compliance, and its focus on responsible gambling and strategic market planning.
The company’s proprietary platform, which has undergone rigorous testing, along with its comprehensive marketing strategies and responsible gambling policies, positions it as a key player in the future of Brazil’s gaming industry. The application covers both sports betting and iGaming (online casino) under Brazil’s licensing regime, allowing Meridianbet to provide a full suite of gaming experiences to Brazilian players.
Brazil’s gambling market is forecasted to generate $34 billion in sports betting turnover by 2028, with an onshore gross win of $2.8 billion, according to a report by the International Betting Integrity Association (IBIA). Unlike the state-by-state regulatory approach in the U.S., this federal-level licensing will grant nationwide access, enabling the company to tap into Brazil’s rapidly growing market and diverse player base.
As part of the Golden Matrix Group (NASDAQ: GMGI), Meridianbet is leveraging global expertise and proprietary technology to strengthen its position in Brazil, ensuring it remains at the forefront of this emerging market.
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Aposta Ganha

Grupo Aposta Ganha secures GLI 19, GLI 33 and Brazilian certification for its platform from BMM Testlabs

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Aposta Ganha, the fastest-growing Brazilian sports betting and casino site, has successfully completed its GLI 19, GLI 33 and Brazilian certifications from BMM Testlabs for its Player Account Management (PAM) system and Sportsbook

These three important certifications mark a significant milestone in Grupo Aposta Ganha’s complete commitment to regulatory compliance and operational excellence in Brazil’s iGaming market. Meeting BMM Testlabs’ rigorous testing processes highlights the company’s dedication to best practices and upholding the highest levels of security, transparency, and user experience.

BMM Testlabs implemented a comprehensive 360-degree evaluation of vital operational elements, including user account management, platform interaction, and security. Grupo Aposta Ganha’s systems officially meet the standards for operating within a regulated market, reflecting both international best practices and the specific requirements of Brazil’s regulatory environment.

Grupo Aposta Ganha CTO, Rony Silva, added: “Securing these three certifications showcases our relentless commitment to meeting all the requirements stipulated by the regulator. As a company, we’re passionate about offering our customers the highest levels of compliance and safety. Our certification is part of our greater mission of embracing the evolution of good practices that have been built collaboratively to meet the Brazilian market’s unique position.”

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Brazil

Grupo Silvio Santos selects OpenBet to power media and retail giant’s Sports Betting & Gaming offering

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OpenBet, a leading global provider of betting technology, content, and services, has secured a major long-term agreement to launch the new sports betting and gaming brand for Todos Querem Jogar (TQJ), part of Grupo Silvio Santos (GSS), one of the largest Brazilian conglomerates in media (SBT), retail (Jequiti), tourism (Hotel Jequitimar), real estate (SISAN) and redeemable bonds (Liderança Capitalização). OpenBet has been entrusted to power TQJ’s betting and gaming platform, delivering premium entertainment to Brazilian consumers who value GSS’s diverse range of brands.

For over 65 years, GSS has been at the heart of delivering world class entertainment in SBT, including iconic brands and game shows such as Show do Milhão, Gol Show and Passa ou Repassa, and iconic products such as Baú da Felicidade and Tele Sena, two of the most popular capitalization and goods and services consortium products in Brazil. GSS’s shows reach more than 113 million Brazilians every month across more than 100 broadcasters and bring in more than 29 million viewers per day.

TQJ is highly committed to delivering safe, responsible betting and gaming experiences to Brazilians with the aim to be the number one leader for player protection. OpenBet’s strong global reputation, expertise in complex regulatory markets, and focus on responsible gaming and compliance were key defining factors in TQJ choosing the company’s fully compliant solutions.

OpenBet’s comprehensive betting ecosystem will drive TQJ’s operations with its high-performing betting engine to handle significant traffic volumes and zero downtime during major sporting events. Additionally, OpenBet is also enabling TQJ to deliver a comprehensive iGaming experience through its player account management (PAM) platform, providing a unified platform for managing promotions across both sports and casino verticals.

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The sportsbook is strengthened with the immersive BetBuilder experience, enabling players to create personalized bets and tailor their betting experience. OpenBet’s Managed Trading Services (MTS) will deliver secure and seamless operations through its 24/7 risk management and expert guidance.

World class responsible gaming and anti-money laundering (AML) technology, powered by Neccton, will be at the heart of TQJ’s new offering to ensure it maintains the highest standards of player protection. OpenBet Locator™, an advanced geolocation solution powered by Amazon Web Services (AWS), will allow the operator to be fully compliant with Brazil’s strict regulatory requirements.

Leonardo Sampaio, CIO of GSS, said: “We’re excited to work alongside OpenBet, a global leader that sets the industry standard for delivering trustworthy and compliant betting operations. For TQJ, it is imperative we offer superior betting experiences that are underpinned by robust compliance procedures. OpenBet’s end-to-end ecosystem and overall company values provide us with peace of mind that we are working alongside the best company to launch us into the regulated sports betting and gaming market.”

José Roberto Maciel, CEO of GSS said: “Considering OpenBet’s heritage of working alongside iconic media entertainment brands and state-owned organizations, TQJ is firmly positioned to lead the way in Brazil by offering responsible gaming, beyond what is required by legislation, and new product experiences that will capture the imagination of players.”

Jordan Levin, CEO of OpenBet, said: “Grupo Silvio Santos is an iconic group in Brazil’s entertainment sector, and we are truly honored to have been chosen to power its sports betting and gaming brand. Considering the esteemed heritage of both OpenBet and GSS, together we are in a solid position to deliver an engaging and responsible betting experience that will make waves across Brazil’s regulated market. OpenBet sets the highest standards in delivering compliant betting operations, which is attracting major interest from Brazil’s leading entertainment organizations as shown with this latest agreement.”

 

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