The once leading pre-regulation betting operator and one-time top-flight football team sponsor is exploring a possible sale, according to multiple sources.
Local industry sources told NEXT.io there has been significant interest in selling up among Brazilian operators, following on from the 18.4x EBITDA multiple Flutter Entertainment paid for its initial 56% stake in Betnacional in September 2024.
Multiple Brazilian market experts told NEXT.io it is common knowledge that Pixbet is looking for a buyer, but that this is a situation common amongst its peer companies.
One major player interested at one point was US giant DraftKings, NEXT.io understands, which reportedly engaged in talks with several operators in the region.
DraftKings ultimately chose not to enter the market.
Market struggles post-regulation
However, Paraíba-founded operator Pixbet has struggled in Brazil’s newly regulated online market since 2025, with the business recently facing heavy regulatory issues including a court order to cease trading nationwide last month.
One expert said the business could still be a valuable asset for an international operator looking to enter the market given its status as one of the country’s most recognisable brands, although they cautioned buyers would likely be wary of the operational and regulatory risk.
The business became a household name after its founding in 2020 through an aggressive marketing and sponsorship strategy, which resulted in front-of-shirt deals with some of the country’s most famous football teams.
Local expert and Hebara executive director Amilton Noble told NEXT.io: “From a market perspective, Pixbet was one of the largest Brazilian betting operators in the recent pre-regulation period.
“The company invested heavily in marketing, sponsored major football clubs including Flamengo and built one of the strongest domestic betting brands in Brazil.
“After the regulation came into force, the company did face significant regulatory challenges. To my knowledge, it was one of the few licensed operators whose activities were temporarily suspended by the Secretariat of Prizes and Betting (SPA) due to regulatory compliance issues. This naturally affected its market position and reputation.
“At the moment, my perception is that the company is trying to rebuild its business,” he added.
Dingnews.com 06/08/2026