The sports betting market in Brazil is undergoing a process of regulated expansion. The Ministry of Finance is currently evaluating 25 applications from companies interested in operating legally under the sector’s new rules, according to Guilherme Amado’s column in PlatôBR.
Read also: Mexico faces a decisive year for the 2026 FIFA World Cup and technological innovation
Requirements and costs to obtain a license in Brazil
Companies wishing to participate in this market must pay a fee of $5 million for a license valid for five years. However, the economic cost is only part of the process. Operators must comply with regulatory requirements established in Law 14.790 (articles 4 to 13) and Ordinance SPA/MF nº 827/2024.
Among the requirements are demonstrating financial solvency, having proprietary technological infrastructure, implementing anti-money laundering systems, and establishing responsible gaming policies. Additionally, authorized companies must have a physical headquarters in Brazil and maintain a customer service channel in the country.
A multi-million dollar growing sports betting market
The sports betting sector in Brazil generated gross revenues of approximately $6,000 million in 2025, a figure that highlights the economic potential of this industry. The country has an estimated base of 25 to 30 million active bettors, representing around 12% of the Brazilian population.
This volume of participation has made Brazil one of the most attractive markets in the region for international operators and local companies seeking to establish themselves in the fixed-odds betting segment.
Regulatory framework and supervision
The Secretariat of Prizes and Betting of the Ministry of Finance (SPA/MF) centralizes the authorization process. This entity published Ordinance SPA/MF nº 827 on May 21, 2024, which establishes the rules for obtaining authorization and commercially exploiting fixed-odds betting throughout the national territory.
To obtain the permit, companies must meet criteria in five categories: solvency, tax and labor compliance, integrity, economic and financial qualification, and technical qualification. Authorized operators can manage up to three commercial brands in the country.
Timelines and current situation
The regulation established a deadline of the end of 2024 for companies that were already operating in Brazil at the time of the publication of Law nº 14.790 (December 29, 2023) to obtain their authorization. As of January 1, 2025, unauthorized companies are subject to sanctions.
To date, there is no public information on how long it will take to analyze the 25 pending applications or how many companies will ultimately receive authorization. The SPA/MF had planned to issue the first authorizations by the end of the second half of 2026.
Currently, the market has 82 authorized companies and 85 licenses to operate sports betting and online games. Of these, 82 are regular and three were granted by court decision, totaling 192 active commercial brands in the country.
The regulation process seeks to organize a sector that has grown rapidly and establish operating standards that protect users while allowing for the economic development of the industry.
