Brazil: Loterj extends application deadline due to ‘high demand’
Companies now have an additional 15 days to file for betting accreditation.
Loterj has opted to reopen the deadline for betting accreditation due to “high demand for regularization” in the State of Rio de Janeiro.
The organization reopened the application window as of September 5.
Companies in Brazil that want to be accredited in the iGaming and fixed-odds sports betting markets now have 15 days from the reopening date to submit their requests.
So far, more than 100 applications have been filed for iGaming licenses in Brazil following the establishment of ordinance 1,207, a document that lays out the rules and regulations for fixed-odds betting operators.
The Prizes and Betting Secretariat of the Ministry of Finance in Brazil recently published new the ordinance, which primarily focuses on the technical requirements fixed-odds betting must meet for their online gaming and live gaming studios.
According to the new ordinance, fixed-odds betting operators are now required to possess a license from an organization that is recognized by the Prizes and Betting Secretariat. Operators must also present a payout out that lists all the winning outcomes prior to the start of bets.
Brazil is scheduled to open its regulated market January 1, 2025.
In related news, Golden Matrix recently announced that its Meridianbet subsidiary was shortlisted in Brazil for an exclusive iGaming and sports betting license.
The company said in a statement, “By securing its place in this priority group, Meridianbet has ensured that its license will be processed by January 1, 2025, which is the forecasted launch date for Brazil’s legal sports betting and iGaming market.”
Golden Matrix serves as a licensor, developer and global operator in both the eCommerce and online gaming platforms.
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