Overview
Brazil is an emerging iGaming market, with online casino and sports betting legalized in 2023 under Law No. 14,790. Licenses are issued by the Ministry of Finance starting 2025.
Rules
- Company must be established in Brazil with 20% Brazilian ownership.
- Compliance with AML, KYC, and responsible gambling standards.
- Covers fixed-odds betting and online casino games.
Costs
Initial cost: ~$6 million (BRL 30 million) for 3 brands. Additional brands: $6 million per set of 3. License term: 5 years.
Pros & Cons
Pros: Huge market potential, federal license covers all Brazil.
Cons: High entry cost, new and untested regulations.