Key points:
- The office has been established ahead of sports betting market regulation in Brazil at the start of 2025
- The office is Sportradar's 28th
Sportradar has opened an office in São Paulo as part of its efforts to tap into the Brazilian sports betting market, which is set to become fully regulated at the start of 2025. The office will mark the 28th for the brand, with offices in 22 countries and five continents.
The Brazilian market has been a hot topic across the industry due to its potential to generate revenue. It is estimated by some that the market’s online GGR will more than double in the next five years, with projections from R$18.4bn (US$3.18bn) in 2023 to R$50.5bn in 2029.
Sportradar hopes bringing operations to the nation directly will allow it to develop a local presence and better relations with partners.
Several businesses set to enter the Brazilian market have taken to creating nationally specific subsidiaries beforehand. One example is Stake Brazil, which was included in the list of authorised betting operators in October. Other brands have established partnerships in order to maximise the market’s potential, including The Unit with Sportingtech and Kambi with Rei do Pitaco.
Some other licensees include Aposta Ganha, Fazi and Booming Games, among others.
On the São Paulo office, Sportradar CCO Eduard Blonk said: “We have already established a strong business foundation in Brazil and see immense growth opportunity, driven by its large population and widespread popularity of sports, in particular football, an area in which we excel globally.
"Furthermore, our commitment to preserving the integrity of Brazilian sports underscores Sportradar’s broader mission to foster a responsible and sustainable industry operating within a regulated environment.”
Despite upcoming regulations, the market has faced some uncertainty. In mid-November Vitor Hugo Do Amaral Ferreira, Director at the Ministry of Justice and Public Security, issued a preliminary order banning adverts containing casino bonuses.
Operators that do not comply with the order will receive a daily fine of R$50,000 until the issue is resolved.
