Betway Leaves the Brazilian Market
Suspension of Deposits and Fund Returns
Betway has already suspended deposit acceptance, and remaining funds will be returned to users. The company has urged customers to withdraw their money as soon as possible to avoid potential processing delays. In the official statement, the operator said:
“Dear Betway customers, regrettably, we have decided not to proceed with acquiring the regulated license in the country. We are working to return all outstanding balances.”
Thus, Betway chose not to participate in the bidding process for obtaining a Brazilian regulatory license, a decision that surprised many players.
Reasons for Exit
Betway’s departure comes amid significant changes in Brazil’s sports betting sector. Authorities have introduced new stringent regulations, including a mandatory fee of 30 million reais (approximately 6 million USD) for obtaining a license. This requirement has become unfeasible for some operators, leading them to exit the market.
Betway was among the companies authorized by Brazil’s Ministry of Finance to operate until the end of 2024, but the company has decided to terminate its activities in the country earlier than expected.
Other Operators Leaving the Market
Betway is not the only company closing its operations in Brazil due to new regulatory requirements. Other operators making the same decision include:
- Dafabet
- Arena Esportiva
- AmuletoBet
- Vera&John
This trend demonstrates that stricter regulations are significantly impacting the industry and forcing bookmakers to reassess their presence in the Brazilian market.
About Betway
Founded in 2006, Betway quickly established itself as a leader in the online betting industry. The company offers sports betting, eSports, casino games, and other gambling services. The platform is known for its competitive odds and user-friendly interface, which have helped it gain a loyal customer base.
In addition to betting, Betway actively invests in sports marketing and sponsorship. The company partners with football clubs such as West Ham and Brighton, and also supports eSports tournaments and horse racing events. These partnerships help strengthen the brand’s global presence.