Some 113 operators have applied for online gambling licenses in Brazil ahead of the 90-day priority application window closing on August 20.
This is a sharp increase from just six operators who applied before the publication of the full technical rules for online sports betting and gambling earlier this month.
Brazil’s regulated online gambling market is expected to launch on January 1, 2025. The final number of applicants who applied during the window is less than the total of 134 who initially expressed interest, but would still be considered a positive result for the Brazilian government, exceeding the SPA’s expectation of 40 applications.
It also means the new regulator has a lot of applications to process in just four months. Operators have been told they can expect to hear whether their documents are sufficient within about 35 days.
IBIA predicts that Brazil’s gambling market could be worth €31.1 billion a year by 2028.
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