Last updated on December 6th, 2023 at 02:42 pm
Last July, legal sports betting in Brazil finally became available to Brazilian gamblers and operators. Since then, several sportsbooks have been looking at Brazil to expand their gambling market portfolio. While there has not been a rush of companies trying to operate in Brazil, some companies are going for it. Amongst them, OpenBet is Entering the Brazilian Sports Betting Market by partnering with Play7.bet
OpenBet is a company that provides of sportsbook software technology to sportsbooks around the world. In addition, ever since the acquisition of the company by Endeavor Group Holding, they have been aggressively expanding their services. Hence, Brazil is just the latest market they are entering.
According to gambling analysts, Brazil has the potential to become one of the biggest gambling markets in the world. In fact, they expect that the gross gaming revenues in Brazil will go up to $6.4 billion per year.
Brazil has a long history of gambling with over 70 casinos operating in the 1940s. However, the gambling industry had some rough time and eventually, all games of chance became illegal. That is, unless they were for federal lotteries and horse racing.
Today, gambling is once again legal and OpenBet is trying to enter the Brazilian sports gambling market early.
OpenBet is Entering the Brazilian Sports Betting Market by partnering with Play7.bet
According to a press release by OpenBet, they are partnering with Play7.bet to conquer the Brazilian betting market. Play7.bet is a sportsbook that has plans to enter the Brazilian market this year with the OpenBet sports betting platform.
Under the terms of the deal, OpenBet will provide Play7.Bet’s operations by delivering its full stack of products and services. Therefore, Play7.Bet will have full access to their betting engine and managed trading services. In addition, Play7.bet will also be using OpenBet’s Player Account Management (PAM) technology.
PAM is a gambling product that allows operators to create unique gaming experiences via promotions. At the same time, it also provides options for responsible gambling and complying with anti-money laundering (AML) requirements.
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