Banco Genial Secures Deals with Major Betting Houses Ahead of Brazil’s 2025 Regulation

Banco Genial has emerged as a key player in Brazil’s evolving iGaming and betting landscape, securing partnerships with prominent betting houses like EstrelaBet, Grupo H2, Aposta Ganha, and TQJ (Todos Querem Jogar, from Grupo Silvio Santos). These agreements position Banco Genial as the financial institution representing these companies as they navigate the upcoming regulatory changes set to take effect in January 2025.

Delano Queiroz, Head and Sales Executive at Banco Genial, emphasized the transformative nature of the Brazilian betting market. He noted that Ordinance SPA/MF No. 827, issued in May 2024 by the Secretariat of Prizes and Bets of the Ministry of Finance (SPA/MF), has fundamentally reshaped the sector’s mechanics.

The new ordinance mandates that only regulated institutions can handle the transactional volume of betting houses. This shift has redefined the landscape for Payment Service Providers (PSPs), many of whom previously served a broader range of segments.

“Given this new scenario, our Corporate Desk team had to adapt quickly to directly serve betting houses that need to adapt to the Brazilian regulated market,” Queiroz explained. “These were months of intense work, marked by a very high demand for meetings, active prospecting and continuous dialogue with our PSPs to ensure a partnership of transparency and honesty, as we will continue to serve PSPs in the other segments in which they operate.”

According to Queiroz, the past few weeks have been particularly demanding, characterized by a surge in contract signings, Annex V submissions, and account openings.

“Today, we are very proud to see that Banco Genial has partnerships with almost 1/3 of the applicants on the SIGAP website, including national and international clients with whom we have established physical and virtual connections throughout this period. It is worth mentioning that there are still some betting houses with which we have partnerships to submit their license applications, and we continue working to further expand this list,” Queiroz added.

Banco Genial is part of Genial Investimentos, a platform designed to simplify access to the financial market. With over a decade of experience and over 200 billion assets under custody, Genial Investimentos aims to provide a user-friendly, fully digital investment experience.

Queiroz concluded, “As Head of Sales at the Corporate Desk, I can safely say that we face challenges with an exceptional level of capacity and resilience. Our team has demonstrated an incredible ability to adapt, be proactive and work together to prospect and convert institutional clients. Furthermore, we are leaders in payment processing via API, not only in the main segments of activity such as iGaming and Crypto, but also in areas little explored by the traditional market. We are more than prepared to face any future challenge and move forward with determination. Let’s move forward!”