In an unexpected move, Betway, one of the largest global sports betting and online gaming companies, has withdrawn from operating in the future regulated Brazilian market. It was the 24th company to register with the Betting Management System (Sigap) of Secretariat of Prizes and Betting (SPA) of the Ministry of Finance, through Sorento Bay Ltda.
Pre-approved to operate during the transition period, which runs until the end of the year, Betway decided not to proceed with its application for a license to operate in Brazil.
In Sigap, the authorization request is still listed: 024 – Sorento Bay Ltda (BETWAY).
The homepage of its Brazilian website still offers a welcome bonus, but when clicking on “Register”, the user is taken to the page announcing the decision to leave Brazil. Betway does not explain the reasons that led it to this decision, but it does state:
“Dear Betway customers,
We regrettably have decided that we won’t be pursuing a regulated offering in the country. We will work with you to return any outstanding balances.
If you have an account you would like to discuss please contact us at [email protected] and include your username.
Please find our Closure Privacy Notice, that provides ‘You’ (the data subject) awareness of how we’ll store, protect, and delete your data, and who to contact if you need support or want to enact your rights.”
Operations will close next week and Betway is no longer accepting new deposits. Bets in progress will be honored until next week, with bettors being able to request withdrawals of available credits until the 13th. There is still no information about future bets after the official closure of the Brazilian operation.
Source: GMB
