The transaction is part of Flutter’s global strategy of investing in partners that are leaders in international markets, and reinforces the company’s commitment to the sustainable growth of the betting sector in territories with high potential.
With over 200 million inhabitants and a culture strongly linked to sports, Brazil is today one of the most promising markets in the world for sports betting and online gaming. The country has seen an average annual growth of 38% in gross gaming revenue since 2018, reaching US$ 3 billion in 2023.
The change marks the beginning of a new chapter, reinforcing the company's presence in the country and expanding its potential to offer, with even greater responsibility, innovation and impact, the best in digital entertainment.
Now, the group is even stronger, with access to new technologies, global talent, innovative products and capital to continually transform the betting experience in the country.
The partnership with Betfair in Brazil also strengthens this new phase, positioning the company in a unique way in the market.
The merger between the operations of the Betnacional and Betfair Brasil brands creates a prominent position in the country. According to industry estimates, NSX Brasil ended 2023 with a 12% share of the sports betting market and 9% of the total online market. Betfair Brasil, in turn, had revenues of US$69 million in 2024.
This achievement represents recognition of the trajectory built over the years — from a bold startup to a leader in Brazilian digital entertainment, with prominent brands such as Betnacional.
Alongside Betfair, NSX will operate in an even more integrated manner in Brazil, with a clear purpose: to offer increasingly relevant, safe and responsible experiences to users.
In addition to the strength of its brands and local reach, the new Flutter Brazil will be driven by proprietary technology developed in the country, combined with Flutter’s global platform – called Flutter Edge. The expectation is that, together, these assets will generate operational synergies and leverage the company’s competitiveness in a regulatory environment that favors established local operators.
For João Studart, CEO of NSX, this is a moment of celebration and projection for the future:
“I am very proud of what we have built together and I am even more excited about what we will achieve as Flutter Brazil. Count on me on this journey of integration, growth and learning.”
The executive also reinforces the commitment to the values that have always guided the company: “We continue with the same DNA that has brought us here — and with even more strength to build what lies ahead. The future of Flutter Brazil has already begun, and it will be guided by purpose, responsibility and commitment to what really matters.”
With the integration of operations, Flutter estimates an increase of US$ 220 million in revenue in Brazil in 2025. With the announcement, the new group, Flutter Brazil, dedicated to dealing only with operations related to the country, becomes part of the international segment of the giant Flutter Entertainment.
This transition represents more than a name change. It is the recognition of a history of strategic growth, driven by talent and consistency, that transformed a Brazilian startup into a reference in the betting and digital entertainment sector.
“Being part of Flutter International connects the former NSX to one of the largest global platforms in the sector, expanding its access to technology, talent and capital — and further strengthening its capacity for innovation, impact and scale,” concludes Studart.
Source: GMB
