Betway announces its exit from the Brazilian market

[The Buzz]

Betway is the latest bookmaker to announce it's shutting down operations in Brazil. This decision affects thousands of Brazilian bettors who use the platform.

The announcement comes as the country is in the process of overhauling its sports betting regulations and on the heels of other bookmakers that also decided to close their doors in Brazil, including Dafabet, Arena Esportiva, AmuletoBet and Vera&John.

Users visiting Betway's website are now greeted with a message announcing the closure.

From iGaming Brazil:

The notice reads: “Dear Betway customers, regrettably, we have decided that we will not proceed with acquiring the regulated license offered in the country. We will work with you to return any outstanding balances.”

Therefore, the decision not to proceed with the regulatory bidding contrasts with the expectations of many bettors regarding the platform’s permanence in the national market.

Betway was among the bookmakers authorized by the Ministry of Treasury to operate until the end of 2024. However, the company informed that it will cease its activities in Brazil next Wednesday (13).

The communication also highlighted that deposits have already been suspended. But the company advisedusers with an account balance to make the withdrawal as soon as possible, to avoid possible delays in processing.

Read more here: https://igamingbrazil.com/en/bookmak...zilian-market/

[khavrylenko]

Wow didn’t expect Betway to leave Brazil too. It feels like all these regulatory changes are really shaking things up. Hopefully they make the process smoother for bettors trying to withdraw their balances. Fingers crossed this all leads to a better setup in the long run!!

[ocreditor]

They keep piling up

[ttt]

I did some business with South America a few years ago and wonder why would any operator spent money going there. You can not compare Europe to that region. It is just peanuts