It has taken more than five years, but Brazil has finally launched its newly regulated online gambling market.

The regulatory scheme covering sports betting and online gambling in the South American country was first signed into law in 2020, and its first licensed operators finally opened their doors for business under that framework on January 1, 2025. Overall, 14 companies received the greenlight to get started, while another 58 are awaiting approval.

iGaming was originally included, removed, and then added again

Most of those already approved are sports betting sites. This is because Bill 3, 626/2023, which passed in late 2018, has consistently included a sports betting focus. Meanwhile, iGaming was originally included, removed, and then added again with certain amendments.

PokerStars is one notable name among Brazil’s initial provisional licensees. The major global poker operator, owned by Flutter Entertainment, is in the list of companies awaiting full approval to begin catering to Brazilian players. Some specifics regarding poker are not clear in the Bill, however, and PokerStars is the only poker operator on the provisional list.

The Brazilian sports betting market went live in 2018, but it has been operating without a regulatory framework. In October 2024, Brazil President Luiz Inacio da Silva warned that he would ban sports betting if “regulation does not cure addiction.” Recent bank studies revealed that betting is affecting household outcomes in Brazil, causing bankruptcy in some cases – something Lula has deemed “unacceptable.”