Betsson AB has received a local license to operate iGaming and sports betting in Brazil, the popular online gaming group announced. The license, which went into effect on Tuesday, allows Betsson to strengthen its footprint in Latin America, where it’s been for over a decade.
The opening up of the Brazilian market follows news that the nation is to open up casino gaming in the first half of 2025.
“We welcome the introduction of a local regulatory framework in Brazil and are pleased to have obtained a license,” Pontus Lindwall, Betsson AB president and CEO, said in a news release.
“This step aligns with our strategy to grow via geographical expansion, and we look forward to offering Brazilian customers a secure and high-quality gaming experience.”
Betsson now holds gaming licenses in 23 countries, including neighboring Argentina, Columbia, and Peru. The group reported its “best year ever” in 2024, according to Lindwall, surpassing one billion euros in revenue for the first time.
Lindwall, in the group’s year-end financial report, cited Betsson’s investments in the Latin America, Central and Eastern Europe, and Central Asia regions as key drivers of its growth.
“We have successfully built a strong position in several key markets using our expertise in online gaming and our proprietary technology platform and sportsbook,” he said. “Our commitment to sports and marketing through strategic sponsorships has also played an important role in strengthening Betsson’s brand and engaging our players globally.”
In January, Betsson partnered with GameplAI to enhance its sportsbook offerings, from advanced player props to pre-game and live betting, in soccer. The agreement covers major leagues such as La Liga, Serie A, the Bundesliga and the Premier League.
Also last month, the group renewed its sponsorship of Argentinian club Boca Juniors through December 2028.
The latest announcement comes almost two months since the launch of Brazil’s online gaming and sports betting markets. Fourteen companies received full licenses at the outset, while another 52 received provisional licenses.
Meanwhile, one of the biggest esports markets in the world, Brazil has also started a public consultation on the regulation of esports. The government is looking to keep its regulation of the booming scene up with how popular and widespread it has become.