Brazil's SPA passes 187 authorised betting operators — what the milestone means for players

Brazil’s federal regulator has now authorised more than 187 betting operators under Law 14.790/2023, according to the latest figures published by the Secretariat of Prizes and Bets (SPA) at the Ministério da Fazenda. The number — a steady climb from roughly 78 operators at the market launch on 1 January 2025 — signals that the regime has moved out of its bedding-in phase and into routine licensing.

This article is for informational purposes only and is not legal advice. Always check the SPA register before depositing.

From 78 to 187 in 18 months

When Brazil’s regulated iGaming market opened on 1 January 2025, 78 operators and 138 brands were authorised. By mid-2026 that has grown to over 187 operators covering both fixed-odds sports betting and online casino verticals, with each licence carrying a BRL 30 million (USD 6 million) five-year authorisation fee, a BRL 5 million capital floor, and a BRL 5 million guarantee deposit.

The growth has not come from foreign rush alone. A substantial share of new licensees are Brazil-incorporated joint ventures with local capital — a structural requirement, since the law mandates at least 20% Brazilian shareholding in any licensed entity. International brands such as Stake, Betano, and Pixbet now share the market with locally rooted operators including Galera Bet, Estrela Bet, and F12 Bet, each of which has its own SPA file.

Enforcement remains aggressive

Even with a larger legal market, enforcement against offshore sites continues. ANATEL — Brazil’s telecoms regulator — had blocked over 18,000 illegal betting pages by September 2025, and total blocking requests since regulation began have passed 50,000. The pattern in 2026 has been smaller waves of blocks but more targeted financial enforcement: the Central Bank has continued to instruct payment institutions to close PIX channels linked to unauthorised platforms.

Crypto still locked out at the federal level

SPA Normative Ordinance No. 615/2024 continues to bar licensed operators from accepting any deposits or processing any withdrawals in cryptocurrency. All flows must move through verified bank accounts in BRL. That has cemented Brazil’s status as a fiat-only regulated market, despite the presence of crypto-native brands operating offshore.

For Brazilian players who previously used crypto casinos, the practical effect is unchanged from 2025: a federally licensed Brazilian site will not accept crypto, and offshore crypto sites are blocked at the ISP and payment layers.

What this means for players

• Use the public register. The SPA publishes its full list of authorised operators online. A Brazilian-facing site that cannot show an SPA authorisation number is not legal, regardless of how it is marketed.
• Tax obligations continue. The 15% personal income tax on net winnings above the annual exemption threshold remains in force, and operator GGR tax is set at 13% for 2026, rising to 14% next year.
• CPF + facial recognition KYC is standard at every authorised operator, with no shortcuts. Plan for verification before your first deposit.
• Responsible-gambling tools are mandatory. Deposit limits, time-out features, and self-exclusion are available across all licensed brands, with a national self-exclusion list maintained centrally.

The Brazilian rollout is increasingly cited by other emerging markets — including Argentina at the provincial level, and Peru and Chile federally — as a working blueprint. With 187+ operators now in the system, the open question for 2026 and beyond is consolidation: industry analysts expect mergers and exits over the next 12 months as smaller licensees struggle to fund compliance costs in a maturing competitive market.