Sportsbook technology provider OpenBet is to expand into the newly regulated Brazilian sports betting market through a partnership with Play7.Bet.
Under the deal, OpenBet will provide technology to power Play7.Bet’s retail and online sports betting offering in Brazil.
This arrangement includes the OpenBet betting engine, managed trading services and player account management (PAM). Tech will be made available across land-based and digital wagering.
In addition, Play7.Bet will benefit from OpenBet’s partnership with Neccton. This covers responsible gambling, anti-money laundering and fraud detection within the gambling sector.
“From the very first days of the UK market through Greece, Australia and the US, it has always been clear that investing in and partnering with competent local companies with coherent and compelling plans, is a strong foundation for success in new markets,” OpenBet chief executive Jordan Levin said.
“For this reason, we are pleased and honoured to have been selected to work with Play7 in Brazil. We are very excited to have signed a deal with Play7.Bet.”
Play7.Bet CEO Moises Deiab added: “We are very proud and excited to be partnering with OpenBet. OpenBet is well known for having the most complete and scalable sports betting products and services in the world and their value to us will be critical.
“It was also crucial to us to be working with a company that has always demonstrated its commitment to responsible gaming, player protection, local investment and regulated markets. We have big plans for the market and OpenBet is at the heart of them.”
Brazil regulates sports betting and online casino
The deal follows last week’s news that Brazil’s Chamber of Deputies has approved the government’s gambling bill. This regulates both sports betting and online casino.
Passage of the bill marked one of the final hurdles in the long journey to regulate online gambling in Brazil. The bill will now head to the federal senate, which has 45 days to comment on the bill.
The proposed law excludes foreign companies from offering legal gambling. Only businesses incorporated under Brazilian legislation, with headquarters and administration in the country will be able to operate.
Other key features of the bill include an 18% tax on revenue, although this rises to between 31% and 34% once additional contributions are accounted for.
Operators will face a R30m licence fee. Each payment grants an operator the right to offer gaming through one betting app, with an additional offering needing another licence. Each licence runs for three years.
Licensees must also put in place anti-money laundering and counter-terrorist financing policies, procedures and internal controls. Companies must also adhere to safer gambling obligations.
In addition, the proposed law bars operators from offering bonus bet and credit lines to bettors.
