Brazil is expected to announce its final online wagering regulations in July, but so far only one licence application has been submitted to the regulator. The market has been buzzing with excitement since the window opened on 21 May, so when will the rest of the applications flood in?
The opening of the licensing window marked a crucial milestone in the hotly anticipated legalisation of betting in Brazil, which is expected to become a $9bn (£7bn/€8.3bn) market by 2028, H2 Gambling Capital has estimated.
Fellipe Fraga, chief business officer at local operator EstrelaBet, predicts operators may be waiting for the final regulations to drop in July before formally applying for a licence.
“There are still important topics that need to be discussed in the process of obtaining the licence,” he says.
“The remaining ordinances will contribute to the definition of the strategies that companies will adopt in the regulatory process.”
Fraga says EstrelaBet is seeking further explanation from ..