The first sports betting operator accreditation to work in the Rio de Janeiro market has been defined. Loterj published in this Tuesday's (30) Official Gazette the contract of the term of accreditation and authorization for the exploitation of lotteries through virtual means of the lottery modality "fixed-quota bets."
Rede Loto is the first company to become accredited to operate sports betting in Rio de Janeiro and will have five days to pay the grant of R$ 5 million (US$ 1m) to start providing services. In addition to the accreditation fee, Rede Loto will pay 5% of the GGR as a variable grant.
The trade name chosen by Rede Loto for the product is Loto Carioca and will cover the entire territory of the State of Rio de Janeiro. The new system will be available in virtual media, with online access on a personal device or using mobile applications (APPs), Web, VLT (Video Lottery Terminal), POS (Point of Sales), or Terminals/Totems.
In addition to the virtual medium, Rede Loto was authorized by the contract to operate and sell sports betting through physical stores, mobile outposts and sports bars.
For the president of Loterj, Hazenclever Lopes Cançado, this signing is a historic milestone for the country's betting market.
"Since I took over management in July last year, I had the objective of publishing the Accreditation Notice for Sports Betting. We achieved more than that. We have the first company accredited and ready to operate in our country,” said Lopes Cançado.
“I am grateful for the unconditional support of the Governor Cláudio Castro and the Secretary of the Civil House, Nicola Miccione, who believed in the project. We thank him very much for trusting in the work and dedication of our entire Loterj team,” he added
Before being approved, Rede Loto went through a rigorous process of proving all the technical and legal requirements to operate in the sector, following Loterj's entire premise of social responsibility, such as promoting safe play, combating fraud, prevention of money laundering and terrorist financing.
In addition to Rede Loto, the Accreditation Notice provides that other interested companies can register and compete to act as accredited in the sector.
To apply for the Public Notice, interested parties can click here.
Source: GMB
