Lucky Online pays R$30 million grant and advances another stage to operate in the Brazilian betting market

The Brazilian sports betting market is undergoing a historical transformation with the regulation provided by Law 14,790/2023. With a betting volume that already exceeds R$ 120 billion per year, according to data from XP Investimentos, Brazil is moving to consolidate itself as one of the largest global markets in the sector, attracting national and international giants. Among the names to take another step to guarantee the license is Sorte Online, a pioneer Brazilian company in digital intermediation of lotteries with more than 21 years of experience and that is part of the Levante holding.

The company has been meeting all the requirements of the Brazilian government to continue operating in the country, under the new regulatory framework, from January 1. With the payment of R$ 30 million by the grant, in addition to an additional deposit of R$ 5 million as a guarantee of the operation, the brand takes another step to operate in the regulated market for 5 years. The resource is intended to cover any future obligations, such as payments to bettors, reinforcing security and confidence in the market.

To obtain the license, companies must undergo a careful analysis process conducted by the Ministry of Finance. The requirements range from proof of suitability to technical and financial qualification, including the implementation of advanced security mechanisms, such as facial recognition and exclusivity of financial transactions by Pix, TED or debit card. 

In addition, despite the progress with the payment of the Union Collection Guide (GRU), which can only be carried out at Banco do Brasil, the process is not limited to payment only. Companies have up to 30 days to complete the transaction, otherwise they lose their position in the queue and need to restart the entire process. 

“regulation requires a robust financial structure and a well-structured operation. This payment is not only a milestone, but a reflection of the commitment to operate safely, transparently and responsibly. Adequacy to Central Bank rules are indispensable to ensure compliance with the regulatory framework”, says Marcio Malta, CEO of Sorte Online.

With regulation, Brazil is preparing to become one of the largest regulated betting centers in the world. To get an idea, the sector attracts more and more investments and has a projected tax collection in R$ 20 billion already next year.

“O Brazil represents one of the largest global opportunities for the lottery and betting industry.We are committed to bringing the country the best international practices, ensuring transparency, innovation and a safe environment for” bettors.