Brazil betting licences revoked as trade body warns of illegal market surge

The 85 licences granted to sports betting operators in Brazil have been revoked as of yesterday. The companies paid a grant of BRL30 million ($6 million), in addition to making a security deposit of BRL5 million. Almost 190 brands that had been operating in the licensed market have lost their authorisation to operate with MP 1.394 , without the return of the amounts paid for the grants. With the regulation of sports betting and online gaming, the government established strict rules, developed by the Secretariat of Prizes and Bets (SPA).