Brazil is expected to announce its final online wagering regulations in July, but so far only one license application has been submitted to the regulator. The market has been buzzing with excitement since the window opened on 21 May, so when will the rest of the applications flood in?

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The opening of the licensing window marked a crucial milestone in the hotly anticipated legalization of betting in Brazil, which is expected to become a $9bn market by 2028, H2 Gambling Capital has estimated.

Fellipe Fraga, chief business officer at local operator EstrelaBet, predicts operators may be waiting for the final regulations to drop in July before formally applying for a license.