Kambi Group has partnered with Eyas Gaming and Brazilian-facing football media website Lance! to launch a new online sportsbook in the country.
Under the deal, Kambi will power the launch of the “Lance! Betting” brand with its sports betting technology.
The new sportsbook will draw on the existing Lance! following of more than 15 million active users per month. Eyas Gaming, backed by the Gauselmann Group, will oversee the running of the brand.
The partnership with Eyas Gaming could lead to the launch of sports betting in other markets in future, Kambi added.
Kambi “a natural choice” for Eyas
“It is a pleasure to have put pen to paper on this agreement with Eyas Gaming,” Kambi’s co-founder and chief executive Kristian Nylén said. “They are an operator whose management team boasts clear expertise and a passion for sports betting that mirrors our own.
“This agreement further bolsters Kambi’s impressive range of partners throughout Brazil and Latin America. We are excited to capitalise on the rich promise this partnership holds.”
Eyas Gaming CEO Adam Joseph added: “We are very pleased to have signed with Kambi as we look to deliver on our sports betting ambitions and the potential of the Lance! Betting brand in Brazil.
“Kambi’s track record in Latin America and proven suite of high-performance technology made partnering with them a natural choice.”
Brazilian regulatory push
Kambi has previously spoken of expansion plans in Brazil but has been held up by regulatory delays in the country. The supplier agreed to partner with local fantasy sports leader Rei de Pitaco last year.
In May, Brazil took a step towards legal betting when its government launched a provisional measure for wagering. The move marked the end of a 20-year wait period for the country.
This includes a 16% tax on gross gaming revenue for licensed operators, to be distributed to public health initiatives and anti-match fixing initiatives.
Players will also be subject to 30% income tax on winnings, capped at R$2,112.
The country’s ministry of finance will be responsible for regulating sports betting. This will include responsibilities for advertising and setting fines for those who infringe upon the regulations.
Those under the age of 18, people with ties to sports organisations – including athletes – and bookmaker employees will not be allowed to place bets.
A change in direction for Eyas?
Eyas was originally formed in October 2020 by Michael Brady, Joe Saumarez Smith and current CEO Joseph. Gauselmann acquired a majority stake in Brady and Saumarez Smith’s previous business Bede Gaming earlier that year.
At the time Eyas targeted the German igaming market, which finally re-regulated in July 2021. Saumarez Smith later suggested those plans would be delayed, due to the tough regulatory conditions imposed on the industry.