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Big-Name Sports Betting Brands Eyeing Entry into Lucrative Brazilian Market

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DraftKings, Hard Rock, and MGM reportedly among more than 130 companies to pre-register for a license in Latin American market.

DraftKings, Hard Rock, and BetMGM reportedly among more than 130 companies to pre-register for a license to operate fixed-odds sports wagering and iGaming in Latin American market.

Some of the top U.S. sports betting operators are primed to expand into a lucrative Latin American country. DraftKings, Hard Rock, and MGM are among a group of online sportsbooks looking at entry into Brazil’s new regulated gaming market, according to a More than 130 companies have pre-registered for a license to operate fixed-odds sports wagering and iGaming in the future.

With the popularity of soccer and growing interest in the NFL, Brazil landed 10th globally in 2022 with $1.5 billion in gross gaming revenue. With regulatory gaming coming, it makes for a gold rush in Brazil. A $5.9-million license that must be renewed every five years will push out some of the smaller companies and allow for the global corporations that can afford the steep operating fees. A 12% gross gaming revenue tax also forces any operator to think wisely before entering this Latin American market.

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