Rei do Pitaco granted license for online sports betting and gaming in Brazil
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Out of 114 companies which applied, Rei do Pitaco is one of only 14 to receive a definitive license, while 52 others were given provisional licenses.
Key Points
- The company is set to pivot from its initial DFS offering to become one of the country’s first online sportsbooks
- Brazil’s regulated sports betting industry is expected to begin formal operations in January 2025 and is said to represent untapped potential for operators
Sports betting operator Rei do Pitaco has been granted a license from the Secretariat of Prizes and Betting (SPA) to begin operating online sports betting and gaming in Brazil. The company will start to move away from its initial daily fantasy sports (DFS) offering in order to become one of the country’s first online sportsbooks.
Out of the 114 companies that applied for an online gaming license in Brazil, Rei do Pitaco is one of only 14 to receive a definitive license, while 52 others earned provisional licenses.
“I’m extremely proud of the work our team has put in to building a strong foundation for the future of sports betting in Brazil,” Rei do Pitaco Co-Founder and CEO Kiko Augusto said.
“This license is a tremendous achievement and reinforces our position as a company that has always played by the rules and always will. We are ready to offer our users an even safer, more reliable and diverse experience within Brazil’s regulatory framework.”
Good to know: The Brazilian Federal Government created the Interministerial Working Group on Mental Health, Prevention and Harm Reduction of Problem Gambling on December 10 to help regulate fixed-odds betting
The country’s regulated sports betting industry is expected to begin formal operations during January 2025 and is said to represent significant untapped potential for operators.
Rei do Pitaco’s entertainment hub will be built entirely in-house and offers sports betting, customized and localized casino games and fantasy sports offerings. Its online sportsbook and iGaming platform is already licensed and has been available for users since the beginning of January 2025.
The operator has been active in Brazil since originally being founded there in 2019 and will soon appear on The Huddle podcast to speak about its potential future in the country.
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