A downer? Betway announces its departure from the Brazilian market

A downer? Betway announces its departure from the Brazilian market

The Betway bookmaker announced the closure of its operations in Brazil, a decision that will affect thousands of gamblers in the country. Thus, upon entering the official platform, users were confronted with a statement warning of the closure.

This news comes at a time when the sports betting market in Brazil is undergoing a complete transformation.

Betway suspends deposits

The notice reads: “Dear Betway customers, unfortunately we have decided that we will not proceed with acquiring the regulated license offered in the country. We will work with you to repay any outstanding balances.

Therefore, the decision not to proceed with the regulatory bids contrasts with the expectations of many gamblers regarding the sustainability of the platform in the national market.

Betway was one of the bookmakers authorized by the Ministry of Finance to operate until the end of 2024. However, the company announced that it is ending its operations in Brazil.

The notice also highlighted that deposits have already been suspended. But the company advised users with an account balance to make the withdrawal as soon as possible to avoid possible processing delays.

Among the bookmakers who also decided to close their doors in Brazil are:

Dafabet

Arena Esportiva

AmuletoBet

Vera&Jan

This move is part of a larger scenario, where brands in the sector must adapt to new regulations. These rules include the burdensome requirement to pay a R$30 million subsidy, making the operation unviable for some platforms.

Official Betway note
“Dear Betway Customers,

Regrettably, we have decided that we will not continue to acquire the regulated license offered in the country. We will work with you to return any outstanding balances.

Please see our Closing Privacy Notice, which provides you (the data subject) with information about how we will store, protect and delete your data, as well as who to contact if you need support or want to exercise your rights.”

About the company
Founded in 2006, Betway quickly emerged as a leader in online betting. The company offers sports betting, live casino, eSports and traditional games. Thus, with competitive odds and an easy-to-use platform, Betway had already gained a loyal clientele.

Betway not only operates in betting, but also invests in sports sponsorship, establishing partnerships with clubs such as West Ham and Brighton. This strategy expands its presence in various sports, such as eSports and horse racing, reinforcing its global image.

Furthermore, the company operates with licenses from various authorities, ensuring a safe environment for bettors.