Superbet Becomes the First Regulated Bookmaker in Brazil
Superbet Brasil, sponsor of São Paulo and Fluminense, has become the first betting house to pay the R$30 million (US$5.2m) concession required by the government to become a regulated company.
To be able to make the transaction, the “Bet” (as the operators are called in Brazil) had to meet all the requirements of the Ministry of Finance in the document evaluation phase.
The company is the first to go through this process. The platform was the second in the industry to request authorization to operate in Brazil. Betano was the first.
The arrival of Superbet, which has just completed one year, was subject to regulation. The company only does business in countries with defined rules for sports betting.
Superbet CEO Alexandre Fonseca said that the regulation of the so-called “Bets” in Brazil is a milestone for the development of the industry and for the country.
“A regulated market promotes legal and tax security for operations, increases revenue for the Union and offers greater protection to players. These are objectives shared by all serious operators in the sector,” he said.
