Colleges, Alleys, and Coworking Spaces: Where Are the Physical Locations of Betting Companies in Brazil?

The analysis conducted by SiiLA's journalism team examined more than 150 websites and verified all their physical locations

Antonio Forjaz, Head of SportingBet Brazil

By: SiiLA News

03/17/2025

Since January 1, 2025, betting companies, commonly known as "Bets," have been authorized to operate in Brazil, provided they comply with government regulations. The gambling and casino market was not the only sector affected—real estate has also felt the impact.

The REsource journalism team accessed public data provided by the Federal Government and the Brazilian IRS, cross-referencing this information with SiiLA’s Market Analytics to map the profile of betting companies in the country. Currently, there are 158 authorized betting sites in Brazil, controlled by 71 companies. However, the impact on the real estate market remains small, as most of these companies operate in Class C buildings or properties outside SiiLA's monitoring scope.

The data shows that only 14% of these companies lease and occupy dedicated office spaces. The rest use coworking spaces, accounting firms, marketing agencies, or law offices as their registered business addresses.

However, the investigation identified some companies registered in unusual locations. One example is PixBet Soluções Tecnológicas, which controls three betting sites (PixBet, FlaBet, and Bet da Sorte) and is registered in a small alley in Campina Grande, Pernambuco—an area with seemingly no residential or commercial buildings. The address was obtained directly from the company’s official National Registry of Legal Entities (CNPJ) card.

Another case is Blow Marketplace, which operates the platforms Aposta Tudo, Bravo, and Tradicional. According to its CNPJ, the company is registered within a campus of Fac Unicamps in Goiânia (GO).

Caio Bartine, a tax law specialist and legal consultant, warns that these situations could lead to legal issues and harm the companies.

"The CNPJ must accurately reflect the company's information, including the actual address where its activities take place. Providing incorrect information may be considered a failure to meet regulatory obligations [...]. The Brazilian IRS can impose fines and even suspend or deactivate the CNPJ, preventing the company from operating legally. If a company declares a nonexistent address, there may be indications of fraud, such as attempts to evade inspections or conceal its true location," he explains.

Bartine also points out that using fictitious addresses could raise regulatory concerns and complicate license renewals.

As of this report’s publication, PixBet, Blow Marketplace, and Fac Unicamps had not responded to REsource’s inquiries.

Where Are They Located?

The findings reveal that 65% of the companies behind betting sites are based in São Paulo, with 83% of them located in the capital city.

One of the main characteristics of these companies is their presence in coworking spaces. Ventmear Brasil, which operates SportingBet and Betboo, is registered at a WeWork location in BHR Lead Corporate on Faria Lima Avenue.

Another example is Lindau Gaming Brasil, which operates Faz o Bet Aí, Oleybet, and Betpark. It leases office space at Regus within the Centro Empresarial Botafogo in Rio de Janeiro.

Meanwhile, TQJ-PAR Participações Societárias, which owns Baú Bingo, Tele Sena Bet, and Bet do Milhão, has its registered address in a warehouse belonging to the Jequiti cosmetics brand in Osasco, due to its connection with SBT.

Economic Impact

Any company operating in Brazil must pay taxes to remain in business. In January, the National Confederation of Commerce, Goods, Services, and Tourism (CNC) released a report stating that the retail sector lost R$ 103 billion in revenue in 2024 due to household spending being redirected to betting.

The study indicates that 22% of household income was allocated to betting, estimating that around 1.3 million people are in debt due to gambling. The CNC warns that the betting sector could reduce retail activity by up to 11.2%, with gambling expenditures potentially reaching 0.62% of Brazil’s GDP.

On the other hand, Bruno Corano, an economist at Corano Capital, argues that betting companies will contribute to tax revenue and that money circulating in the industry will ultimately benefit the government.

"Betting companies will certainly contribute to tax revenue. [...] And we must remember that, if we take a sample of 100 million people, whether through Bolsa Família or their professional activities, they generate personal income of around R$ 1 billion per month, for example. This money would be spent anyway on something. [...] So, in this sense, it’s not that revenue increases, but rather that instead of coming from the purchase of an apple at the supermarket, it comes from a bet. Even so, I consider it valid, as people were already gambling before, and back then, tax collection didn’t even exist," he states.

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