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Brazilian fintech WEpayments offers leading one-stop solution for sports betting operators in Brazil

| By iGB Editorial Team
Combining billing and payment solutions with first-class security and performance, WEpayments has become a crucial ally for operators in Brazil’s nascent sports betting market.

Brazilians inject around US$11bn (£8.65bn/€10.11bn) annually in cash into physical and online fixed-odds bets. According to Brazilian newspaper Folha de S.Paulo, remittances made to companies in the sector that operate abroad totalled BRL54bn (£8.45bn/$10.73bn/€9.89bn) in the period from January to November last year alone. This market, however, has continued to experience constant and accelerated growth since 2021, when lotteries generated estimated revenues of BRL18.1bn, with a player base of more than 100 million and ranking in the top ten in total estimated value – which positioned Brazil as the fifth largest esports market in the world.

A survey carried out by TGM International found that 8% of Brazilian bettors play daily and 31% bet a few times a week, the highest percentage in Latin America. Furthermore, around 106 million of the 160 million adults in Brazil have a paid sports betting platform that they consider their favourite. It is also estimated that 74 million participate in sports betting, considering that 67% of Brazilians bet online for entertainment and fun, reflecting the playful nature of betting in Brazil.

The numbers reflect the great potential of the Brazilian market in gaming and sports betting. Vixio Gambling Compliance forecasts that LatAm will generate values ​​of circa $6.75 billion in gross gaming revenue (GGR) by 2027, with Brazil expected to account for 45% of this.

New regulations require operators to obtain a licence from the Brazilian public authorities. Similarly, processing payments in Brazil needs to be done by a Payment Institution authorised by the Central Bank of Brazil (Bacen) and one that meets all the requirements of the new Brazilian regulations. Currently, Brazil has few institutions that combine Bacen authorisation with expertise in the operation of fixed-odd betting. Another point to consider is that not every institution combines the collections solution with the flow of instant payment of prizes to the bettor – the famous payout.

An example of this one-stop shop solution is the Brazilian fintech WEpayments, which has enjoyed a solid reference in the Brazilian payments industry since its formation in 2019. The company also specialises in the igaming market and obtained its licence in March 2023. With a fully prepared operating model, WEpayments can help operators overcome the complex challenges of Brazilian regulation. It also offers a high-tech operation, combining different solutions with security, speed and conversion.

Bet collection combined with payment to the bettor

WEpayments was designed with an initial emphasis on payout operations, offering a seamless integration between bet collections and instant payout of prizes to bettors. Through advanced reprocessing technology and flexible configurations, the platform provides a fluid and instantaneous experience for users, with success rates above 98%, favouring the platform’s feedback speed. The payout operation can also be used to pay suppliers and partners, facilitating the complete financial flow of operators.


The new Brazilian legislation has focused mainly on transaction security, addressing crucial aspects such as verifying the identity of bettors and detecting suspicious activity. WEpayments stands out in this scenario with a robust validation and security structure, as Fernanda Zago, CEO and co-founder of the company, explains: “Internally, we developed an embedded identity verification (KYC) and fraud prevention solution. This entails real-time verification of all payments, processing only transactions that meet established criteria. For example, we ensure that payments do not originate from minors or individuals listed with international restricted bodies such as the UN or the OFAC. In addition, we carry out CPF (Brazilian individual taxpayer registration identification) crosschecks on payments and receipts, ensuring that the transaction occurs for the bettor and not a third party. All this to ensure that the funds received by the operator are completely verified and free from disputes or fraud, streamlining cash flow and financial management.


“We recognise that processing speed is as relevant as security and transaction conversion, especially in the gaming and betting industry,” says Matheus Gobato, CTO and co-founder of the company (pictured above with Fernada Zago). “At WE, more than 90% of bettors’ transactions – both deposits and withdrawals –are completed in less than 30 seconds. This is made possible by the high availability of our platform, the robustness of the developed system, and the infrastructure tailored to the demands of this market.

“Moreover, we pride ourselves on payment conversion rates above 90% and a success rate of over 98% in prize payouts, highlighting our excellence in delivering reliable and swift results to our clients.”


Another relevant point to guarantee performance in this market is connected to the most used payment methods in the country. In Brazil, Pix is ​​a payment method used by 143 million people, with more than BRL15 trillion in transactions, covering a 29% share of all financial transactions in the country. This is the main authorised means of placing bets and the most beneficial method for the Brazilian igaming and sports betting market, being interesting for operators looking for authorised participating institutions in the Pix arrangement in the manner required by Bacen.

“Having a Payment Institution participating in Pix brings a series of advantages that go beyond the instantaneity characteristic of the method and the 24/7 availability of operations. These are benefits such as cost reduction, improved security, customer attraction and retention, in addition to regulatory compliance, characteristics that certainly impact the success of growing businesses in the Brazilian market,” says Zago.

The CEO also highlights the attention to differences such as a robust compliance structure, which helps reduce the effort of operators seeking to enter new markets by mitigating the need for constant monitoring of regulatory changes by the client. Furthermore, having a partner that offers local support in the bettor’s native language, combined with service focused on performance excellence, are factors that can influence better business performance.

“Today the market offers many solutions in payment methods, but finding a true business partner committed to the sustainable expansion of your operations can be crucial to enhancing your success in emerging markets,” concludes Zago.

To learn more about the available solutions, visit: lp.wepayments.com.br/en/igaming.