Although the company had the endorsement to continue operating until the end of the year, the company decided not to acquire the license and will close its operations on November 13th.
Brazil.- Betway announced the closure of its operations in Brazil, a decision that impacts thousands of bettors and caused confusion not only among users but also among all industry stakeholders. Since yesterday, November 7th, when accessing the official platform, users encountered a notice warning about the closure. This news comes at a time when the sports betting market is undergoing a complete transformation in Brazil and far from closing operations, all companies seem more interested in starting to operate in the country.
The notice says: "Dear Betway customers, unfortunately, we have decided that we will not proceed to acquire the regulated license offered in the country. We will work with you to return any outstanding balance."
Therefore, the decision not to proceed with the regulatory bidding contrasts with the expectations of many bettors about the platform's permanence in the national market.
Betway was among the betting houses authorized by the Ministry of Finance to operate until the end of 2024 according to the provisions of the Ordinance 1.475 of the Secretariat of Prizes and Bets (SPA). However, the company informed that it will cease its activities in Brazil next Wednesday, November 13th.
The statement also highlighted that deposits have already been suspended. But the company advised users with a balance in the account to make the withdrawal as soon as possible, to avoid possible delays in processing.
See also: How the process for Brazilian online betting houses to access the domain "bet.br" will be
Betway is not the only company deciding to discontinue its operations. There are four other companies that followed the same path:
