SportPesa is angling for a share of the Sh1.44 trillion gambling market in Brazil after the South American country reviewed its laws to legalise online and on-land betting.
Betting has grown to be the in thing in terms of investments with most people signing to different betting platforms. Just in a few years the betting companies have grown into multi-billion firms sponsoring even different teams across the globe.
SportPesa being the first betting firm that invaded the African market is now seeking to broaden its reach to other international markets.
The gaming firm’s chief executive officer Ronald Karauri, however, said that it is still early to disclose further plans on the Brazil market.
The Congress has two years to formalise regulations that will open the market to firms such as SportPesa, Betin and Betway President Michael Temer signed the Bill into law ending a 68-year period when the country banned all gaming activities to increase productivity during its industrialisation period in 1946.