Slotegrator has managed to expand its services in the Brazilian market, where it will offer all its functions, including games, sports betting, payment systems and affiliate management, along with marketing, licensing, hosting and advisory services.
The Brazilian government expects the sports betting sector to be regulated before the end of the year, with the hope that it will be operational before the 2022 FIFA World Cup.
Because of the "passion for sports and local gambling," Slotegrator believes Brazil will soon become "a tempting prospect for online sports betting and casino operators."
Ayvar Gabidullin from Slotegrator explained: “Until the next legislation comes into force, online operators are prohibited from being based in Brazil. However, operators and bookmakers based in Europe and elsewhere are very popular, perhaps due to the lack of local competition. "
“With more than 200 million people, Brazil is the sixth most populous country in the world. After the new regulation, the size of the sports betting market in Brazil is possibly one of the largest in the world”, he added.
The most popular sport in the country is soccer, but basketball and beach volleyball present large-sized sports betting markets for both domestic and international leagues. Also Mixed Martial Arts competitions are often subjected to bets, and this is mostly due to Jiu-Jitsu’s Brazilian roots. Horse racing is also common and beloved in Brazil.
Since 2011, it has been forbidden by the Brazilian government to use credit and debit cards for placing bets, both onlive and live. Then, with the FIFA World Cup in 2014, the government decided to completely outlaw gambling and stopped Internet Service Providers from hosting gambling sites.
This changed in December 2018, when the Ministry of Economy was given two years to establish regulations and procedures related to the gambling market. However, this hasn’t happened yet.
The Ministry of Economy now will enforce new regulations, which should be ready by the end of 2021, so that legal operations in the country will happen in 2022.
The South American country is the latest on Slotegrator's global expansion list, having recently debuted its services in Greece and Lithuania.