The SPA’s list of approved operators now has 96 companies on it. Brazil will transition to a fully legal market from January 1, 2025.
Brazil’s Secretariat of Prizes and Bets (SPA) added Stake.com to the list of operators who can continue their operations during the transition period from October 1 to December 31. The country is set to launch an entire legal betting market on January 1, 2025.
SPA’s List of Approved Operators
SPA published the first list of 89 approved operators on October 1. The list was updated the next day, and four more betting companies were added to it. However, Stake.com was added to the list on October 9, when three betting companies, including Stake.com, were added to the list of approved operators. The SPA said the delay in approval for these companies was due to various issues that need to be clarified and resolved.
“While the ministry of finance is in the process of evaluating a full licence application, Stake’s inclusion on the authorised operator list will allow Stake Brazil to continue offering the best-in-class gaming and betting experience that local consumers have come to expect,” Stake said.
With the approval of three operators — Stake, HiperBet, and LBBR — the SPA’s list has 96 approved operators. As three skins are permitted for each licensed operator, there are now 213 brands live during the October 1 to December 31 period. Stake and HiperBet have added only one domain each, while LBBR added three brands: luck.bet, 1pra1.bet and startbet.io.
Earlier this year, Brazil amended regulations, allowing only companies already active in the Brazilian market and have submitted license applications to operate until the end of 2024. With the start of the new year, Brazil will have a fully legal market. The approval to Stake.com and others on September 9 signifies that they don’t have to wait until the new year to operate in the country.
Stake to Appoint Dedicated Country Manager
Stake said it was “thrilled” at the news of its inclusion in the SPA’s list. The company plans to develop a strategy for the local market and appoint a dedicated country manager.
“Stake would like to extend its gratitude to customers, partners, and the Brazilian regulatory authorities for their support and cooperation during this process,” Stake added.
Earlier, Stake.com secured high-profile sponsorship deals, including becoming the official sponsor of UFC in Asia and partnering with Sauber’s F1 team, rebranded as the Stake F1 Team for the 2024 and 2025 seasons. Stake is also the shirt sponsor for Premier League team Everton FC, further expanding its presence in global sports.
