Betsson AB has officially received a full five-year license to operate online sports betting and iGaming in Brazil, marking a major step in its global expansion strategy.
The company, which has been active in Brazil since 2019, had initially received provisional approval while finalizing its technical certifications, but this latest development reinforces its commitment to the rapidly growing Latin American market.
President and CEO Pontus Lindwall emphasized that Betsson welcomes the establishment of a regulated framework in Brazil, stating, “This step aligns with our strategy to grow via geographical expansion, and we look forward to offering Brazilian customers a secure and high-quality gaming experience.”
Betsson first entered the Brazilian market by acquiring a 75% stake in Suaposta, a local sportsbook operator and beyond Brazil, the company also has a strong presence in neighboring Colombia and Peru.
Latin America has been a significant driver of Betsson’s growth, contributing to the company surpassing €1 billion in revenue in 2024, a 16.8% increase over the previous year, so this Brazilian boost will likely take earnings to another level.
It’s not just Betsson who are looking to capitalize on this market though. Other operators have also been making moves with five additional companies, including Big Brazil with its Caesars brand, Skill On Net, and Reals Brasil, being granted full betting licenses.
Meanwhile, BPX Bets Sports Group’s VaideBet brand, along with its BetPix365 and ObaBet platforms, received provisional authorization following a court ruling.
Tropicalize, however, which had previously been authorized to provide gambling services in Brazil, has now been excluded from the market — a huge blow for future endeavors.
Reports indicate that the company failed to pay the BRL30 million license fee, which meant a removal from the list of court-approved operators.
With Brazil’s gaming industry undergoing rapid regulatory developments, Betsson’s full license places it in a strong position to capitalize on the market’s growth, while other operators navigate the evolving legal landscape.
