Levante Brasil LTDA, the holding company of the national betting market that represents Sorte Online in the online gaming sector, has reached an important milestone in its trajectory. The documentation submitted by the company to the Secretariat of Prizes and Betting (SPA) and the Ministry of Finance has been approved, consolidating another significant step in the regulatory process to operate in the online gaming and sports betting market in the country.
After more than 20 years of acting as a digital intermediary of lottery games, Sorte Online is preparing to expand its operations and enter new verticals, including the betting and sports betting market. This advance occurs in a promising scenario: the betting sector already represents about 1% of the Brazilian GDP, moving between R$ 100 billion and R$ 120 billion in 2023, according to a report by XP Investimentos.
“This approval reinforces our commitment to the regulated market and good responsible gaming practices.We work to stay ahead of the curve, aligned with regulatory requirements, and we trust in the sustainable growth potential of the” sector, says Marcio Malta, CEO of Sorte Online.
Next steps in the regulatory process
With the approval of the documentation, Sorte Online now advances to the payment of the collection guide with the authorization fee and the certification of the platform. From there, the next step involves the detailed analysis of the certification and the license to operate.“The Brazilian betting market is constantly evolving, and the Treasury ordinances are an essential step to establish a solid regulatory base. Our commitment is to overcome regulatory challenges and help build a more transparent, responsible and aligned sector to the best global practices”, reinforces Malta.
To date, 44 companies have submitted their licensing applications to legally operate in Brazil as of January 1, 2025. According to the official schedule, approved applications will be notified by November 18, and companies will have 30 days to make the payment of R$ 30 million regarding the license.
Bet on innovation and security
As a company belonging to a global group, Sorte Online stands out for implementing solutions already validated in regulated markets around the world. This expertise offers a solid basis to meet the requirements of the ten ordinances established by the Ministry of Finance, consolidating its position as a suitable company and aligned with international best practices.
The Brazilian betting market has shown an accelerated growth, with 36% of the population having already made online bets, according to the consultancy Possible Futures. Among these bettors, 78% claim to make bets frequently. These data reinforce the potential of a market that, in addition to being dynamic, is increasingly oriented to innovation and regulation.
