Betano Becomes First Bookmaker to Apply for Brazilian Sports Betting License

Betano has made history by becoming the inaugural operator to apply for an official sports betting license from Brazil’s Ministry of Finance. According to a report by Games Magazine Brasil, Betano submitted the necessary documents via the Betting Management System (SIGAP) on May 26.

Brazilian authorities gave their stamp of approval to the long-awaited sports betting licensing regulations on May 22. These rules mandate that all operators must secure national licenses by the close of 2024. Failure to comply will result in penalties, with fines kicking in as early as January 1, 2025.

Successful applicants will be granted 5-year licenses, and the hefty price tag for a gambling license in Latin America’s largest country stands at $5.9 million.

Betano’s timely application positions the brand to receive its license by December 31, 2024.

Notably, Betano, owned by Greek company Kaizen Gaming, recently announced a strategic partnership with the Brazilian Football Confederation, securing the coveted title sponsorship of Brazil’s premier football division, the Brazilian Serie A.

Last month, Betano made headlines by announcing a partnership with the Brazilian Football Confederation. As the title sponsor of Brazil’s premier football division, the Brazilian Serie A, Betano solidified its position as a key player in the nation’s sporting ecosystem.