MIÉ 11 DE DICIEMBRE DE 2024 - 16:56hs.
Following recommendations from Finance

BETesporte pays US$5m concession fee, advances in regulation with government

Brazilian sports betting platform BETesporte paid the R$30 million (US$5m) licensing fee this Thursday (5) as part of the process to secure a license to operate in Brazil. The company has been following all the steps to be able to operate in the country under the new legislation for the sector, which will come into full force in 2025.

To obtain authorization to operate in the country, companies must meet a series of requirements, such as implementing security systems to prevent fraud and money laundering, proving technical experience in the sector and minimum share capital.

In addition, it is necessary to comply with the General Data Protection Law (LGPD) and provide customer service channels.

“BETesporte is among the pioneers in the betting sector in Brazil, always defending fair and responsible gaming. Our goal is to offer the best service to all bettors and the payment of the concession fee reinforces that we are committed to the regulations proposed by the Federal Government,” comments Vinicius Nogueira, CEO of BETesporte.

“It is important to be agile and correctly follow the guidelines of the legislation, because this shows that we have acted seriously and transparently,” adds the executive.

In addition to being active in the regulatory process, BETesporte also has a significant presence in the Brazilian market in terms of sponsorships, having signed agreements with teams such as Goiás, Vila Nova, Ypiranga, Aparecidense and Caxias do Sul.

Source: GMB