This landmark agreement, which has the financial advice of the Investment Banking team at BTG Pactual, the largest investment bank in Latin America, brings together two major entertainment forces to introduce BandBet, a new and innovative offering for Brazil’s regulated betting and gaming market.
BandBet is currently under a soft launch period, operating on the domain www.bandbet.com, with Bell Ventures being among the authorized entities from the Ministry of Finance to operate during the transition period following the terms of ordinance 1475/24.
Band is one of the largest and most traditional and influential media conglomerates in Brazil, with a legacy spanning over 87 years.
Known for its extensive network of Free to Air Television, PayTV, Radio and digital platforms (social networks, mobile app, website), Band delivers a diverse range of content, including sports, news and entertainment, reaching millions of users on a daily basis across the nation.
In addition to Bell Ventures licensing the BandBet brand from Band, the Company has entered into an agreement to acquire media space from the media conglomerate.
Leveraging the licensed BandBet brand reputation linked to one of the biggest TV networks in Brazil, and OpenBet’s unparalleled expertise in betting technology and regulatory compliance, this collaboration is poised to deliver a superior betting and gaming experience for players in the region.
As part of the agreement, OpenBet will supply its complete end-to-end sports betting and iGaming ecosystem inclusive of player account management, providing BandBet with the technology, content, and compliance infrastructure required to succeed in Brazil’s newly regulated market.
In addition to sports betting, OpenBet is also empowering BandBet to deliver a comprehensive iGaming experience to players. This includes a seamlessly integrated online casino, featuring a cutting-edge user interface, access to a wide variety of content from leading gaming studios, and a unified platform for managing promotions across both sports and iGaming verticals.
At the heart of the ecosystem is OpenBet's Player Account Management platform, enabling the sports betting and iGaming verticals while supporting safe gaming practices. Central to the platform is the responsible gaming and anti-money laundering (AML) technology, powered by Neccton, ensuring BandBet upholds the highest standards of player protection.
Additionally, BandBet will benefit from OpenBet Locator™, an advanced geolocation solution powered by Amazon Web Services (AWS), ensuring full compliance with Brazil’s strict regulatory requirements.
This agreement highlights OpenBet’s role as the partner of choice for operators looking to succeed in Brazil’s regulated market. With more than 25 years of experience, OpenBet will deliver a scalable, localized, and modular product offering tailored to meet the specific needs of the region.
Claudio Giordani, CEO of Band, said: "For decades, Band has been synonymous with high-quality entertainment in Brazil, and our sports coverage has been a key driver of our success. We are excited that Bell Ventures decided to enter the market with a brand licensed from our media group, as Band consistently contributes to international and local companies entering Brazil’s economy.”
Ricardo Bianco Rosada, Board Member of Bell Ventures, said: "Partnering with OpenBet was a natural choice. Their unrivalled expertise in the global betting industry will ensure BandBet is built on a state-of-the-art platform. Their ‘open’ system, integrating sports and iGaming, equips us with the flexibility and tools to thrive in a regulated, competitive market while ensuring responsible growth.”
Jordan Levin, CEO of OpenBet, said: "At OpenBet, we pride ourselves on supporting leading brands with the highest standards in the industry. By leveraging our comprehensive betting ecosystem, BandBet will offer an outstanding player experience, positioning itself as a leader in Brazil’s emerging gaming space. We look forward to supporting BandBet's growth and furthering our mission to help operators thrive in this rapidly evolving market."
Bell Ventures applied for a federal license with the Ministry of Finance in August, with the expectation that the Company will be among the entities that will be granted a license by December 31st 2024.
OpenBet
OpenBet is a world leader in sports betting entertainment. With over 25 years’ experience and a passion for innovation, OpenBet’s modular range of technology, content and services is entrusted by the globe’s biggest sports betting brands, lotteries, casinos and tribal operators.
It is a leading business-to-business sports betting partner in the U.S., U.K., Australia and Canada, with a strong position in Europe and APAC. To date, OpenBet has over 75 global customers and a 100% uptime record across major sporting events. OpenBet is part of Endeavor, a global sports and entertainment company.
The company has earned industry recognition through multiple award wins recently, including ‘Sports Betting Supplier’ at EGR North America Awards 2024, ‘Multi-Channel Supplier’ at the EGR B2B Awards 2024, and ‘Sportsbook Platform Supplier’ at the SBC North America Awards 2024.
To find out more about OpenBet, please visit www.openbet.com
Source: GMB
