The dynamics around Brazil’s betting market continue to shift and evolve at a rapid pace, with this week seeing a fresh B2B move from LeoVegas alongside a major political change.
Historically an online casino platform, over the last few years LeoVegas has been expanding its activity into B2B gaming operations and sports betting, particularly under the new ownership of MGM Resorts.
Its B2B activity has focused on both betting and iGaming, but it’s the former that has been taken a step further in Brazil this week. The company’s Tiger sportsbook has been rolled out with BetMGM, the B2C sportsbook brand it operates outside the US.
“The launch of our proprietary sportsbook Tiger on BetMGM Brazil marks a historic moment for LeoVegas Group,” said Adrian Vella, LeoVegas Group CPTO.
“We have always believed in controlling our own technical destiny, and we have now successfully rolled out the sportsbook in two important iGaming markets in a matter of just a few months.”
LeoVegas took charge of the BetMGM sportsbook in late 2023, following the Swedish firm’s acquisition by the US gaming and entertainment group MGM Resorts earlier that year. Terms of the acquisition had been agreed in 2022.
The company first launched BetMGM in the UK, with subsequent European markets including the Netherlands and Denmark. It was launched in Brazil in January 2024 as one of the first wave of 68 licensees in the ‘Bets’ regulated marketplace.
Rolling out its Tiger sportsbook with BetMGM, albeit being a brand already managed by the LeoVegas platform, is a big step forward for LeoVegas’ B2B ambitions. While not a client in the traditional sense, it could be a good way for the company to prove its B2B credentials.
“As we approach an incredibly exciting year in sports, with the World Cup among the highlights, we look forward to seeing BetMGM Brazil’s players benefit from a faster product, new features, a deeper offering, and a superior UX,” Vella remarked.
Political departures
Brazil’s market has proven itself as one of the world’s biggest, with gross gaming revenue (GGR) for 2025 standing at R$37bn (£5bn/€5.8bn) according to the Secretariat of Prizes and Bets (SPA) while the tax intake stood at $R9.9bn according to the Federal Revenue Bureau (FRB).
However, political scrutiny has hit the sector very quickly. An increase in tax has come about particularly quickly, surprising some in the sector, while political scrutiny has also focused on the societal impacts of the rapidly evolving market.
In the most recent political development, it was announced that the politician effectively in charge of the Bets market, Regis Dudena, would be moving to a new role. Dudena will transfer from Secretary of the SPA at the Ministry of Finance to become Secretary of Economic Reforms, as reported by SBC Noticias – BR.
Dudena’s tenure as SPA Secretary saw some significant initial changes to Brazil betting regulations. This included the ban on Bolsa Familia welfare recipients from gambling and the creation of the national self-exclusion scheme.
Brazilian media sources cited by SBC Noticias indicate that Daniele Cardoso, Deputy Secretary of the SPA, or Fabio Macorin, Undersecretary of Monitoring and Supervision, are the likely contenders to take the top job.