Altenar, a sports betting and iGaming software provider, has announced the opening of a new office in São Paulo. Altenar’s expansion in Latin America is not recent. In February 2024, the company inaugurated an office in Montevideo, Uruguay, aiming to enhance support for iGaming operators in the region. Regional Director Hugo Llanos highlighted the importance of being present in strategic time zones, considering South America’s intense flow of sporting activities, such as the Copa Libertadores and the main leagues in Brazil and Mexico.
Establishing a new office in Brazil brings many benefits, including a faster onboarding process for new clients and the possibility of invoicing in the local currency. Frederico Caputi, Sales Manager at Altenar, stated that opening the São Paulo office is a strategic step that allows the company to serve its partners better and optimise operations in the Brazilian market.
“This is an exciting development that aligns perfectly with our commitment to growth and excellence in Latin America.”
The sports betting market in Brazil has experienced rapid growth in recent years. Between January and July 2024, approximately 25 million Brazilians entered this sector, almost half of the 52 million who have placed bets in the last five years. This surge has attracted the attention of major international companies in the industry, which see Brazil as a promising market for expansion.
New regulations shape the betting market
Since 1st January 2025, the fixed-odds betting market has been operating under full regulation. Companies wishing to operate in this sector must obtain authorisation from the Secretariat for Prizes and Betting, linked to the Ministry of Finance. By the end of 2024, 66 companies were authorised to offer this lottery modality, with a total of R$2.01 billion paid in licensing fees to the federal government.
The regulation establishes clear guidelines for companies’ operations, including the requirement to be incorporated under Brazilian law, comply with anti-money laundering regulations, and adopt responsible gambling practices. Additionally, operators must exclusively use websites with the “.bet.br” domain.
Altenar’s presence in São Paulo aligns with this regulatory landscape, enabling the company to be closer to its clients and closely follow the dynamics of the Brazilian market. In addition to Brazil, Altenar has offices in several other countries, including the Isle of Man, Uruguay, Malta, Greece, and Russia.
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