Author: egamingservices
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Ontario’s Single-Game Sports Betting Industry Sees 70% Growth
Ontario’s Single-Game Sports Betting Industry Flourishes Ontario’s single-game sports betting industry is thriving, contributing $2.7 billion to the province’s gross domestic product (GDP) in 2023. This marks a significant 70% increase from $1.58 billion in 2022, its first year of operation. Ontario remains the only Canadian province with an open, regulated igaming market, having fully…
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How Much Does It Cost to Open an Online Casino in Brazil?
With the growing interest in gambling in Brazil and the gradual legalization of the sector, many entrepreneurs are considering the possibility of opening an online casino. However, before diving into this promising market, it is essential to understand the cost to open an online casino in Brazil. This article details the main financial aspects you…
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Online Betting Sector Expands by 734% in Brazil Since 2021
The online betting sector grew 734.6% from 2021 to April 2024, per Datahub’s data to CNN. In Brazil, companies rose from 26 in 2021 to 79 by end of 2022, a 203% increase. In the first four months of 2024, as many new companies were established as existed in 2022. “Regulation brings more security for…
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New Rules for Fixed-Odds Betting Authorization in Brazil
On Wednesday (22), the Ministry of Finance’s Prizes and Betting Secretariat published Ordinance SPA/MF No. 827 dated May 21, 2024, establishing rules for fixed-odds betting and conditions for commercial exploitation of fixed-odds lottery betting nationwide. Legal entities in Brazil since Law No. 14,790/2023 must comply with new provisions by December 31, 2024, or face penalties…
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Normative Instruction on Online Betting Social Contribution in Brazil
The Brazilian Federal Revenue Service (RFB) announced a significant change in Normative Instruction on Online Betting RFB No. 2,005, of January 29, 2021. The amendment, published in Normative Instruction RFB No. 2,188, of April 29, 2024, concerns the “social contribution incident on the lottery modality called fixed-odds sports betting.” In other words, this change has…
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Restrictions On Financial Transactions In Brazilian Betting Sector
On April 18, 2024, the Brazilian Secretariat of Prizes and Betting of the Ministry of Finance (SPA/MF) published Normative Ordinance SPA/MF No. 615, with the general rules to be observed in payment transactions carried out by betting operators. Among these rules, there are several restrictions for the sector. The prohibitions established in this Ordinance are…
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New Financial Rules for Transactions In Brazil in the iGaming
The Brazilian Ministry of Finance has implemented financial rules for transactions in Brazil for sports betting and online gaming, so it could enhance security and transparency. Below are the main points of ordinance 615/2024: Safety for Bettors The regulation aims to safeguard Brazilian citizens participating in sports betting or online gaming by overseeing fixed odds…
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7 Steps to Start a Betting Website
Creating a gaming operation is a venture that involves various legal, technical, and security aspects. Here are 7 Steps to Start a Betting Website. Consider then if you’re think about to get into this business. 🔎 Research and Planning Before starting, it’s important to understand the legal regulations related to gambling in your jurisdiction. Additionally,…
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What Is a Gaming License and Why You Need One
A common question for the begginers in the market is: What is a Gaming License? A gaming license is a legal authorization granted by a government authority or regulatory body. It allows a company to operate gambling or betting within a specific jurisdiction.This license is a legal requirement in many countries to ensure that gaming…
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5 Reasons to Invest in a Betting Website of Your Own
Invest in a Betting Website with sports betting and online casino can be considered good for several reasons. Here are 5 good motivations to start your own betting website. 1- Growing Market: The sports betting and online casino market has grown significantly in recent years and shows no signs of shrinking. On the contrary: with…
