Levante Brasil Ltda, the holding company of the national betting market representing Sorte Online in the iGaming sector, has reached an important milestone in its trajectory. The documentation submitted to the Secretariat of Prizes and Bets (SPA) of the Ministry of Finance was approved, consolidating another significant step in the regulatory process to operate in the country.
After more than 20 years of acting as a digital intermediary for lottery games, Sorte Online is preparing to expand its operations and enter new verticals, including the betting and sports betting market.
This advance occurs in a promising scenario: the betting sector already represents about 1% of the Brazilian GDP, moving between R$ 100 billion and R$ 120 billion in 2023, according to a report by XP Investimentos.
"This approval reinforces our commitment to the regulated market and to good practices of responsible gaming. We work to always be ahead, aligned with regulatory requirements, and we trust in the potential for sustainable growth of the sector", states Márcio Malta, CEO of Sorte Online.
Next steps in the regulatory process
With the approval of the documentation, Sorte Online now moves forward to the payment of the collection guide with the authorization fee and the platform certification.
From there, the next stage involves a detailed analysis of the certification and the license to operate. "The Brazilian betting market is constantly evolving, and the Ministry of Finance's ordinances are an essential step to establish a solid regulatory base. Our commitment is to overcome regulatory challenges and help build a more transparent, responsible, and aligned sector with the best global practices", Malta reinforces.
Bet on innovation and security
As a company belonging to a global group, Sorte Online stands out for implementing solutions already validated in regulated markets around the world. This expertise provides a solid foundation to meet the demands of the ten ordinances established by the Ministry of Finance, consolidating its position as a reputable company aligned with the best international practices.
The Brazilian betting market has shown rapid growth, with 36% of the population having already made online bets, according to the consultancy Futuros Possíveis. Among these bettors, 78% claim to bet frequently. These data reinforce the potential of a market that, in addition to being dynamic, is increasingly oriented towards innovation and regulation.
Source: GMB
