O Rei do Pitaco, one of the leading sports betting and online gaming platforms in Brazil, celebrates a historic milestone with the acquisition of a license to operate in the country. Out of the initial 80 licenses granted, Rei do Pitaco was one of the companies that obtained the license definitively, while the other 66 licenses were granted on a provisional basis.
The company was the third to apply to the federal government, demonstrating its commitment to act in accordance with Brazilian laws, with total transparency and responsibility.
Since its foundation in 2019, Rei do Pitaco has always maintained its operations based in Brazil, directly contributing to the local economy through the payment of taxes and the creation of jobs. To date, the start-up has reached more than 8 million users and raised about US$ 60 million in investment rounds, including a Series A.
“The license is a huge achievement and reinforces our position as a company that has always played and will always play within the law. We are ready to offer our users an even safer, reliable, and diverse experience within the regulation,” stated Kiko Augusto, CEO of Rei do Pitaco.
With the license in effect, the platform will continue to be 100% regulated, marking the beginning of a new era for the users and for the Brazilian betting market. Additionally, players will have access to a wide variety of sports betting markets, as well as thousands of casino games, with innovations that promise to elevate the entertainment experience.
“We will continue to provide healthy fun, now under the endorsement of the regulated market. Acting within the law is an obligation of betting houses and a victory for all Brazilians,” highlighted Rafael Marchetti Marcondes, CLO of the company.
With more than 150 direct employees and hundreds of indirect jobs, Rei do Pitaco significantly contributes to the development of the sector. The expansion of activities and products will further strengthen the national market, with direct impacts on tax collection. Moreover, the company promotes responsible gaming practices and defends the integrity of sports with initiatives that make the sector safer and more transparent.
Rei do Pitaco also stands out for its actions against the manipulation of sports results and its dedication to providing innovative experiences for its users. The company maintains the commitment to connect fans to their favorite sports with fun and responsibility, consolidating itself as a reference in the Brazilian betting scene.
Source: GMB
