BetBoom, a global player in the iGaming landscape, has successfully secured approval for a betting and casino license in Brazil. This achievement places the company among a select few operators that have met the criteria established by the Ministry of Finance, aimed at regulating the burgeoning iGaming industry in the country.
In an official statement, BetBoom emphasized that this achievement underscores its dedication to adhering to government regulations, which encompass transparency in operations, player safety protocols, and robust security frameworks.
Stepan Dobrovolskiy, Chief Operating Officer of BetBoom, recognized the significance of Latin America in the international legal betting scene, pointing out that Brazil’s regulatory advancements are pivotal to the company’s growth strategy. “Brazil represents a key market for our Latin American aspirations, and we are thrilled to receive this approval.
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The nation is positioned to emerge as the second-largest iGaming market globally in the coming years, and we see enormous opportunities in this region. Over the past months, we’ve collaborated closely with the SPA to fulfill all regulatory mandates, and we anticipate ongoing partnership in this endeavor,” Dobrovolskiy stated.
Currently, Brazil is in the process of establishing new regulations for the iGaming industry. BetBoom is nearing the completion of its licensing requirements to commence operations in the country next year. After submitting its application in August, the company received authorization in October to operate within the transitional framework, which allows regulators to evaluate the suitability of applying betting operators in preparation for the 2025 regulations.
Moreover, BetBoom has identified Latin America as a critical area of focus for the upcoming year. The company has also become a prominent sponsor of two major content creator collectives in Brazil: Tribo, recognized as the largest group of Counter-Strike 2 streamers globally, and Ilha das Lendas, the biggest League of Legends streaming community in Brazil. “These initiatives highlight our strategic marketing approach to establish a robust business presence in the region,” the company concluded.
