BetBoom, an international iGaming holding, has been approved to obtain a betting and casino license in Brazil. The company is part of a select group of operators that have fulfilled the prerequisites established by the Ministry of Finance for regulating the iGaming sector in Brazil.
“This milestone reflects the company’s commitment to government regulatory requirements, including operational transparency, player protection policies, and strict security measures,” the company said in a press release
Stepan Dobrovolskiy, BetBoom’s COO, highlighted Latin America’s importance in the global legal betting market, noting that Brazil’s regulatory process is a crucial step for the company’s expansion.
“Brazil is a fundamental market for our Latin American expansion and we are glad to be approved. The country is set to become the second-largest market of iGaming in the world in the next few years and we see great potential in the region. Over the last few months, we worked closely with the SPA to meet all the regulatory requirements and we are looking forward to continuing our collaboration”, Dobrovolskiy commented.
Currently, Brazil is transitioning to new regulatory standards for the iGaming sector. BetBoom is in the final stages of securing the necessary license to operate in the country next year. In August, the company submitted its application to operate in Brazil, and in October, it received approval to operate in the country during the transition phase. This phase allows regulators to assess betting operators that have applied for licenses in preparation for 2025.
Recently, the company positioned Latin America as one of its main territorial focuses for the coming year. It has also become a sponsor of two major groups of content creators in Brazil: Tribo, the world’s largest group of Counter-Strike 2 streamers, and Ilha das Lendas, the largest group of League of Legends streamers in Brazil. “These initiatives showcase the company’s marketing strategy to build a successful business in the region,” the company concluded.