Regulations in Brazil: What operators have discovered in 2025

During a panel held at SBC Summit in Florida, operators discussed the navigation of legal requirements and what additional licensing opportunities throughout 2025 could mean for Brazil.

As Brazil continues to develop and properly regulate its newly formed iGaming market, operators and legal representatives discussed the country’s requirements and application process during a panel held at the SBC Summit event in Fort Lauderdale, Florida. 

With speakers such as Vixio Chief Analyst James Kilsby, Genius Sports VP of Brazil Guilherme Buso and Amusnet Brazil Manager Marco Pequeno in attendance, the group touched on what companies looking to conduct business in Brazil should expect for the remainder of 2025. 

Companies, especially those looking to partner with professional sports teams in Brazil, had to “start from zero” due to legal challenges faced in the early going of 2025, building a “new marketing strategy” to find a presence within the country. 

The speakers made sure to properly warn foreign companies that Brazil is a “different animal,” and that contacting a local specialist could be the best way of entering the iGaming or sports betting market. 

“We do notice, since January, the game has changed. We’ve noticed how some practices needed to be altered, especially in sports betting. Prior to 2025, sports betting was something that was just expected, but the knowledge of bettors and players has changed in recent times,” Buso said. 

“We are looking at the changes from operators in response to the high competition that is occurring in the market, and that is important because the bettor needs to trust the industry and that no ‘yellow cards’ are being thrown around in regulation. The market needs to be proactive in building a relationship with the consumers that are being targeted in these practices.”

Despite these past four months going by in what felt like “four minutes,” many applications have been passed since January 1, 2025, when the country’s iGaming market officially went live under new regulations. However, it was estimated during the panel there are 293 applications still awaiting approval, and “many more” are expected throughout the remainder of 2025. 

Good to know: Brazilian digital influencer and entrepreneur Virginia Fonseca testified before Brazil’s Senate inquiry into online betting advertising on May 14

“We studied almost all of the international markets that are regulated in gaming. The perfect solution for combatting regulation challenges does not exist,” Kilsby said. 

“This is very complicated and a very big challenge still. Illegal sites are finding advantages bypassing these regulations by offering bonuses and failing to pay tax, so a war has formed to keep these operators under control. It’s a common challenge found in Europe and the US as well, so we’re set up to see a real battle for regulation in these next few months.” 

While experience is seen as the best source of knowledge for Brazilian regulators, it was made clear that challenges in avoiding the presence of illegal operators are not going away anytime soon. With hundreds of applications still pending as well, the country is only set to discover even more expansion, and the difficulties in keeping opportunities limited to legal operators will remain present throughout 2025. 

Kirk Geller

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