The betting industry in Brazil is so promising that out of the 134 companies interested in applying for the gaming license, there are names like Globo, Kwai Brasil, and Caixa Econômica Federal.

If you are not familiar with these names, before writing why it is a big deal, I will explain who they are and what they represent.

Globo is a Brazilian free-to-air television network, launched in April 1965, and dominates the market with a 35% share of the industry and a market cap of R$ 10 billion.

Caixa Econômica Federal is a state-owned Brazilian financial services company and the fourth-largest bank in Brazil, with a net worth of approximately R$125 billion.

Kwai Brasil is a famous, TikTok like, social network with 45 million monthly active users. It lets members create short, funny movies that can easily be shared on other platforms like WhatsApp and Instagram.

Finally, it is a big deal because, a few years ago, sports betting was a vertical that grabbed everyone’s interest, but only a few companies, including PayRetailers, invested extensively in technology to serve iGaming Operators.

Big names are entering the sector, and they have the potential to positively influence public perception of sports betting.

Now that the regulation is closer to becoming a reality, bettors will be able to know the reputation of the websites they choose to play on.

The Brazilian market is believed to be worth roughly R$ 100 billion per year, and with regulation, it might more than double.

The fight for market share will be fierce. I’m waiting anxiously for the next steps and will keep everyone updated!