The betting house H2bet has been authorized by the Secretariat of Prizes and Bets of the Ministry of Finance (SPA-MF) to pay the concession fee, following the process of regulating the sports betting market in Brazil. The approval also includes SupremaBet and SeuBet, a company acquired by the H2 Group in August.
From the beginning, H2bet follows the guidelines of the SPA/MF ordinance No. 827, of May 21, 2024, created by the Ministry of Finance "to establish the rules and conditions for obtaining authorization for the commercial exploitation of the fixed quota betting lottery modality by private economic agents throughout the national territory".
The amount of the concession fee is R$ 30 million, and the company has up to 30 days to make the payment.
Even before the process of market regulation, H2bet was already internally implementing, since its creation in 2022, a series of rules and flows, such as transaction monitoring, responsible gaming, and corporate governance.
After fighting for the legalization of poker in Brazil and becoming the main player of the mind sport in the country, the H2 Group now celebrates the advances for the regulation of the sports betting market in the country.
“Another step has been taken towards sports integrity and responsible gaming, which are fundamental pillars for a mature, sustainable, and long-term market,” said H2 Group CEO, Ueltom Lima.
Source: GMB
