Brazil’s Secretariat of Prizes and Bets grants fixed-odds betting license

Brazil’s Secretariat of Prizes and Bets (SPA), part of the Ministry of Finance, has officially authorised TQJ-PAR Participações Societárias SA to operate fixed-odds betting under the country’s newly implemented regulatory framework.

This authorisation marks a key milestone in Brazil’s efforts to establish a fully regulated betting market by 2025. This follows the legalisation of fixed-odds betting in 2018 and the introduction of comprehensive regulations finalised in 2024.

TQJ-PAR Participações Societárias SA is a subsidiary of SISAN Participações, which belongs to the well-known Silvio Santos Group, a major player in Brazil’s entertainment and media industry.

The company combines decades of market experience with modern technology and has signed a partnership agreement with betting platform OpenBet.

This collaboration is expected to support TQJ’s entry into the regulated market with robust technological infrastructure.

The license, formalised under SPA/MF ordinance no. 1,344 and published on June 18th, 2025, allows TQJ to operate legally in Brazil’s fixed-odds betting and online gaming sectors.

The company plans to launch three distinct brands: Bet do Milhão, Baú Bingo, and Tele Sena Bet. Bet do Milhão will focus primarily on sports betting and casino games, while the other brands will cover various gaming formats. The official market launch is scheduled for the second half of 2025.

TQJ has committed to prioritising responsible gaming and player protection. The company stated its goal to “be number 1 in responsible gaming and collective satisfaction of bettors and players, ensuring a safe, transparent betting environment that prioritises the user experience.”

This aligns with the government’s regulatory objectives to safeguard consumers and promote transparency within the industry.

The regulatory framework introduced by the SPA requires operators to meet stringent technical, operational, and integrity criteria, including a minimum net worth, financial guarantees, and compliance with tax and labor laws.

Only companies headquartered in Brazil or with a Brazilian partner holding at least 20% of the share capital can obtain licenses, ensuring local oversight and accountability.

Brazil’s fixed-odds betting market is expected to expand rapidly as the regulatory environment stabilizes. The Ministry of Finance aims to create a predictable, well-regulated market that protects bettors and supports economic growth.

Non-compliant operators will be classified as illegal, facing bans on advertising and sponsorships.

TQJ’s license approval is part of a broader push to formalise Brazil’s betting sector, which had previously operated with limited oversight. The company’s entry into the market, backed by the Silvio Santos Group’s reputation and OpenBet’s technology, positions it as a significant player in Brazil’s evolving gaming landscape.