Brazil is making significant strides towards launching its regulated sports betting and iGaming market by January 1, 2025. Five new ordinances have been published in Brazil’s Official Gazette of the Union, outlining regulations for the industry. One of the key ordinances, Normative Ordinance No. 1,207, establishes technical requirements for online games and live game studios, including the allowance of the controversial Fortune Tiger game. The other ordinances cover industry contributions to the state, monitoring and inspection of gambling activities, responsible gaming guidelines, and the sanctioning regime for non-compliance.
In an effort to combat gambling addiction, the Brazilian army has created a booklet to educate soldiers about the risks associated with gambling. This initiative comes in response to growing concerns within the Brazilian army regarding issues such as gambling addiction, which can lead to serious consequences like suicide and money-related crimes. The booklet has been shared in lectures with over 600 military organizations and follows similar initiatives by the Brazilian Air Force and Navy.
On the licensing front, Caesars Sportsbook’s Big Brazil and Sportingbet have both submitted applications for licenses to operate in Brazil. With these two operators joining the list, the total number of applications now stands at five, including Betano, Superbet, and Rei do Pitaco. The deadline for submitting applications is August 20, ensuring that they will be processed in time for the anticipated market launch in 2025.
Meanwhile, Rush Street Interactive (RSI) is expanding its presence in Latin America with the launch of its RushBet brand in Peru. This move marks RSI’s entry into a newly regulated market with a substantial population of over 30 million people. Richard Schwartz, CEO of RSI, views the Peru launch as a crucial step in the company’s strategic growth in the competitive Latin American market, where it already operates in Mexico and Colombia.
Overall, these developments in Brazil and Peru highlight the dynamic landscape of the Latin American gaming industry, with new regulations, licensing applications, and market expansions shaping the future of sports betting and iGaming in the region. As the industry continues to evolve, stakeholders are navigating a complex regulatory environment while seizing opportunities for growth and innovation.