Betfair is the latest company to pay a BRL30m (£3.9m) licence fee to operate in the Brazilian market in 2025.
The company’s application for a licence was previously approved. Brazil’s regulator confirmed that Betfair fully complies with the requirements set by the Ministry of Finance and its Prize and Betting Secretariat (SPA).
According to SBC Noticias, the operator had to prove technical expertise in the sector, minimum social capital, the implementation of robust security systems and the dissemination of responsible gambling practices, among other required requirements.
Kimberly Daly, General Director of Betfair, said that “this is a very important moment for Betfair”, highlighting that the company is strictly following the new industry rules to ensure obtaining the license and being able to operate throughout the Brazilian territory.
“It is also another unquestionable demonstration of our commitment to the responsible development of the online betting sector in Brazil. We are proud and excited to take this step further in the journey that began six years ago, which will allow us to continue bringing our Brazilian customers and sports enthusiasts the best entertainment experience,” added Daly.
Betfair will offer services through the Betfair Sports, Betfair Exchange and Betfair Casino brands.
In addition, Betfair emphasized that it is a founding member of the Brazilian Institute for Responsible Gaming (IBJR) and is working with the Institute to “shape the development of reliable and modern regulation” in line with international best practice.
Recall that new rules for operating in the local market will come into force in Brazil on January 1, 2025. All bookmakers must obtain new federal licenses, meeting all requirements.
Betfair thus joined Superbet as one of the first companies to pay for a federal license.
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