Brazil’s regulator, the Secretariat of Prizes and Betting at Brazil’s Ministry of Finance (SPA) has authorized two online operators to reduce the number of brands under their licenses.
The measures allow Big Brazil Tecnologia e Loteria S.A. and Lindau Gaming Brasil S.A. to scale back from three approved brands each to two.
Under Ordinance SPA/MF No. 410, Big Brazil will continue operating the Big and Apostar brands, discontinuing Caesars. Meanwhile, in another ordinance, the SPA authorizes Lindau Gaming to maintain Spin and Oleybet, with Betpark removed from its portfolio.
Both decisions were based on proceedings within the Betting Management System (SIGAP), referencing Decree No. 11.907/2024 and the federal betting laws enacted in 2018 and 2023.
The adjustments do not affect the companies’ core authorizations but reflect a recalibration of brand strategies within the newly regulated framework.
The move comes as the Finance Ministry continues to process applications, with at least 25 companies in the application line, and oversee compliance in a market that experienced rapid expansion following regulation.
Among the companies waiting for a license is PicPay, with an authorization form filed in May 2025.
Brazil’s betting market currently includes 82 authorized operators holding 85 operational licenses, of which 3 were granted through federal court decisions. Together, these companies manage 191 active brands.
The decision was published in the Official Gazette and signed by Acting Secretary Daniele Correa Cardoso.
A recent industry survey identified 2,316 illegal betting operators still active in Brazil
