The Brazilian sports betting market is undergoing a historic transformation with the regulation provided by Law 14.790/2023. With a betting volume that has already surpassed R$ 120 billion per year, according to data from XP Investimentos, Brazil is on its way to establish itself as one of the largest global markets in the sector, attracting national and international giants. Among the names taking another step to secure the license is Sorte Online, Brazilian company pioneering in digital lottery intermediation with over 21 years of experience and part of the Levante holding
The company has been meeting all the requirements of the Brazilian government to continue operating in the country, under the new regulatory framework, starting from January 1. With the payment of R$ 30 million for the grant, in addition to an additional deposit of R$ 5 million as a guarantee for the operation, the brand takes another step to operate in the regulated market for 5 years. The resource is intended to cover potential future obligations, as payments to bettors, reinforcing security and trust in the market
To obtain the license, companies must undergo a rigorous analysis process conducted by the Ministry of Finance. The requirements range from proof of integrity to technical-financial qualification, including the implementation of advanced security mechanisms, such as facial recognition and exclusivity of financial transactions via Pix, TED or debit card.
Furthermore, despite the progress with the payment of the Union Collection Guide (GRU), that can only be carried out at Banco do Brasil, the process is not limited to just the payment. Companies have up to 30 days to complete the transaction, under the penalty of losing their place in line and needing to restart the entire process.
Regulation requires a robust financial structure and a well-structured operation. This payment is not just a milestone, but another reflection of the commitment to operate safely, transparency and accountability. Compliance with the Central Bank's rules is essential to ensure conformity with the regulatory framework, highlights Marcio Malta, CEO of Sorte Online
With the regulation, Brazil is preparing to become one of the largest regulated betting centers in the world. To get an idea, the sector attracts more and more investments and has a projected tax revenue of R$ 20 billion as early as next year
"Brazil represents one of the largest global opportunities for the lottery and betting sector". We are committed to bringing the best international practices to the country, ensuring transparency, innovation and a safe environment for bettors, concludes
