EstrelaBet, Grupo H2, Aposta Ganha and TQJ (Todos Querem Jogar, from Grupo Silvio Santos), among others, have signed with Banco Genial as the financial institution to represent them in the future of their operations, as accredited and authorized betting houses in Brazil from January 2025.
For Delano Queiroz, Head and Sales Executive at Banco Genial, the iGaming and betting market in Brazil has undergone a transformation significant, and Genial Investimentos was at the center of this change. “With the publication of Ordinance SPA/MF No. 827 in May 2024 by the Secretariat of Prizes and Bets of the Ministry of Finance (SPA/MF), the mechanics of the sector were profoundly changed,” he comments.
The new ordinance requires that only regulated institutions can process the transactional volume of betting houses, redefining the scenario for PSPs that previously served several segments, including betting houses.
“Given this new scenario, our Corporate Desk team had to adapt quickly to directly serve betting houses that need to adapt to the Brazilian regulated market. These were months of intense work, marked by a very high demand for meetings, active prospecting and continuous dialogue with our PSPs to ensure a partnership of transparency and honesty, as we will continue to serve PSPs in the other segments in which they operate,” stated Delano.
For the executive, “the last few weeks have been even more challenging, with a high flow of contract signings, Annex V and account openings.”
“Today, we are very proud to see that Banco Genial has partnerships with almost 1/3 of the applicants on the SIGAP website, including national and international clients with whom we have established physical and virtual connections throughout this period. It is worth mentioning that there are still some betting houses with which we have partnerships to submit their license applications, and we continue working to further expand this list,” adds Delano.
Banco Genial belongs to Genial Investimentos, a platform that facilitates access to the financial market, offering the best products in the sector. With over 10 years of history and over 200 billion assets under custody, the brand offers simplicity and ease when it comes to investing in a 100% digital way.
“As Head of Sales at the Corporate Desk, I can safely say that we face challenges with an exceptional level of capacity and resilience. Our team has demonstrated an incredible ability to adapt, be proactive and work together to prospect and convert institutional clients. Furthermore, we are leaders in payment processing via API, not only in the main segments of activity such as iGaming and Crypto, but also in areas little explored by the traditional market. We are more than prepared to face any future challenge and move forward with determination. Let's move forward!,” concludes the head and sales executive of Banco Genial.
Source: GMB
