Betway: Leading name in sports betting, Betway has chosen to halt business in Brazil. Many, particularly given the Brazilian market is about to be fully regulated, find this action unexpected. Betway registered with the government at first showing interest, but it will not be using it.
The Brazilian version of the platform’s website now shows a notice on its departure. Users cannot register or make new deposits even though they can still view promotions. Users are advised to withdraw remaining balances right away; current bets will be honored until November 13.
The ruling might have something to do with Brazilian new laws requiring businesses to pay a hefty R$30 million license fee. Other betting firms including Dafabet and Arena Esportiva have also left the market in response to this demand. Consequently, the scene of sports betting in Brazil is changing since only few businesses are probably able to satisfy these financial needs.
Many Brazilian consumers who now have to choose substitutes for their sports betting activities have been let down by Betway’s leaving.