List concludes with 114 candidates as fervor for Brazil gaming licenses subsides
Countdown's over, and the clock's ticked on the gaming license applications in Brazil, officially closing at midnight on August 20th. That's right, 114 gaming hopefuls met the deadline, with applications through Sistema de Gestão de Apostas (SiGAP) now in the hands of the regulatory authorities.
Get the lowdown on the final company rush, fun facts, and more from SiGMA News as they unveil the complete list of applicants. You won't believe the action that went down on the final day, with an 11th-hour surge of submissions!
The final sprint
With the deadline looming, the final day, August 20th saw the highest number of gaming license applications. As the clock struck twelve, there was a frenzy of applications coming in, even up to the very last moment. SiGMA News observed an influx of applications, with BBET Solucoes submitting theirs at 11pm, marking the 101st submission. In the last hour, from 11 PM to midnight Brazil time, four more applications came in from G2 Negocios Digitais Ltda, Puskas Bet, Zetbet Ltda, Cash for Pay Ltda, and AF Technologia e Solucoes Financeiras Ltda. Caixaagentur, the final applicant, submitted just before the midnight deadline.
Licenses still up for grabs
Registration in SIGAP is mandatory for any company aiming to operate in the regulated gaming market. The Treasury assures all applications submitted before August 20th will receive a response by year-end, granting them legal authorization to operate from January 1st, 2025, when all regulatory rules come into effect.
Companies applying after August 20th may begin trading in January 2025 without a federal license but face penalties. The approval process can take several months, which means submitted applications can still secure a license, but at a slower pace.
Initial estimates suggested around 60 companies would apply, but that number grew to 134 earlier this month. The decline from 134 to 114 is attributed to the stringent legal requirements, such as a BRL 30 million subsidy, which may be challenging for some platforms to meet, preventing them from operating in Brazil's regulated market.
Mark your calendars
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Stay tuned
- Learn about the latest trends in iGaming expansion, crossing borders, and U.S. iGaming tax
- Watch insightful discussions featuring LATAM's visionary leaders and industry experts
- Discover how market intelligence will shape gambling's growth in Latin America
- Find out about collaborations between major players like X and Polymarket
- Explore the new era in iGaming marketing with Affstellar
- Read up on the latest news and updates in the gaming industry
- And much more!
Wanna learn more about Brazil's gaming market? Check out these key details:
Brazilian gaming market insights
- Licence Cost and Duration: Operators must apply for a 5-year licence, with an application fee set at around 6 million euros.
- Local Presence Requirement: Establishing a local presence is mandatory, and at least 20% of the company’s ownership must be held by a Brazilian national.
- Taxation:
- Operator Tax: Licensees are required to pay a 12% tax on Gross Gaming Revenue (GGR).
- Player Tax: A 15% tax is imposed on players’ winnings.
- Regulatory Body: The Secretariat of Prizes and Bets (SPA) under the Ministry of Finance oversees all licensing and regulatory activities.
Tune in for more updates as the Brazilian gaming market continues to evolve!
In the final rush before the August 20th deadline, the highest number of gaming license applications were submitted, including BBET Solucoes at 11pm, marking the 101st submission. Meanwhile, four more applications came in from G2 Negocios Digitais Ltda, Puskas Bet, Zetbet Ltda, Cash for Pay Ltda, and AF Technologia e Solucoes Financeiras Ltda in the last hour, with Caixaagentur submitting just before the midnight deadline (Finance, business, technology).
Despite the over 134 initial applications, 19 companies dropped out due to stringent legal requirements, such as a BRL 30 million subsidy. Companies applying after August 20thcan still secure a license, but with penalties and a slower approval process (Finance, business, technology).
