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NeBlask · report · Brazil

Brazil: iGaming Market Map After Licensing

A breakdown of Latin America's largest regulated market: who leads, who's gaining ground, and what the first year under SPA/SIGAP has delivered.

152.4Mqueries/mo
144brands in index
50licences with regulator

Context

In 2026, Brazil is Latin America's largest regulated online market. Following the entry into force of Lei 14.790/2023 and the launch of SPA (Secretaria de Prêmios e Apostas) within the Ministry of Finance, the country moved from a grey zone into a white-label licensing regime. The first licenses were issued in spring 2025, with full transition on 1 January 2026.

According to our data, total brand demand is the highest among the 15 NeBlask countries, surpassing the US, India and Italy.

Brazil's Top 10 Brands

Movement over month

Growing (MoM)

Brazino777 Casino+50.0%
F12.bet+44.0%
Winamax+40.3%

Falling (MoM)

RedStar-80.7%
Codere-43.1%
Bet90-34.8%

Regulator

🇧🇷
SPA · Secretaria de Prêmios e Apostas
Brazil, full licensing from 2025
How to cite this report. We publish everything under CC BY 4.0. Open feeds: brands.json, br.json, licenses.json. Methodology: Radar · /neblask/methodology · version v1.0.0.

← all reports · full country page · CC BY 4.0

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