Brazil's regulated online sports betting and iGaming market opened for business on Monday with 76 operators active under federal licences issued by the country's Secretariat of Prizes and Betting.

The launch marks the end of a four-year legislative and regulatory process that began with the 2018 enabling law, and positions Brazil as the largest Latin American market to move from tolerated to fully regulated in a single step.

Who is live

The 76 licensees include the largest international operators, Bet365, Flutter's Betfair, Entain's bwin and DraftKings, alongside a deep bench of Brazilian operators that had been active in the grey market. The secretariat published the full list on its website on Friday.

Each licence covers both fixed-odds sports betting and online casino games. Lottery and bingo remain outside the federal regime.

The financial framework

Operators pay a one-time licensing fee of R$30 million and are subject to a 12 percent tax on gross gaming revenue, with additional 2 percent contributions earmarked for sport and responsible gaming programmes. Players will be taxed on net annual winnings above R$2,824.

Analysts at a regional consultancy estimate gross gaming revenue of R$28 billion in the first full year, rising to R$45 billion by 2028.

Early friction

Payments processors reported intermittent failures during the first 24 hours of trading, as several operators moved traffic from offshore stacks to the new domestic processors required by law. The central bank said the issues were resolved within two hours and did not signal systemic problems.