The H2 Group has made a payment of R$ 30 million for the grant and R$ 5 million for the deposit of the guarantee fund, required by the Federal Government/SPA for sports betting sites. Thus, the group's two brands, H2bet and SeuBet, are able to continue operating in the regulated Brazilian market from January 2025.
“This is a milestone in the history of our group, and I have no doubt that it is also a milestone in the history of the Brazilian gaming market. This final stretch of the regulatory process is the definitive crowning of the work of companies that have always been dedicated to good practices in the market, and which have entertainment, responsible gaming, and sports integrity as their pillars. We are very close to this very important moment for the country,” said H2 Group CEO, Ueltom Lima.
From the beginning, H2bet followed the guidelines of the SPA/MF Ordinance No. 827, dated 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 request for homologation with the Secretariat of Prizes and Bets of the Ministry of Finance (SPA/MF) had been made in August.
Even before the market regulation process, H2bet had been internally implementing, since its creation at the end of 2022, a series of rules and flows, which include transaction monitoring, the promotion of responsible gaming, and the best practices of 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 regulation of the sports betting market in the country.
“The H2 is a consolidated group in Brazil. We have led many battles, such as the legalization of poker, always positioning ourselves emphatically for integrity. We are well represented in terms of technical qualification, we have set up a quality team in all areas, from marketing, through compliance and institutional, with a very influential executive body in the market,” added Ueltom Lima.
Source: GMB
