NSX Group
NSX Group operates Betnacional, a Brazilian online sports betting and iGaming platform serving Brazilian consumers via mobile and web. A majority stake was acquired by Flutter Entertainment for $350 million in May 2025.
- Company typePrivate
- Founded2020
- HeadquartersLondon, United Kingdom
- Headcount11–50
- GTM typeB2C
- OfferingSoftware
What NSX Group does
NSX Group is a Brazilian digital entertainment company that operates the Betnacional online sports betting and iGaming platform, serving Brazilian consumers through a mobile-first product available on iOS, Android, and web (betnacional.bet.br). Founded as a genuinely Brazilian operator, the company has built brand equity through high-profile sponsorships including the Rio Open 2025 tennis tournament and the Sport football club's largest-ever master sponsorship, alongside responsible gaming campaigns featuring prominent Brazilian personalities Galvão Bueno and Tino Marcos. Revenue is generated via transaction fees on sports wagering and iGaming activity, with no enterprise or B2B customer base.
In May 2025, Flutter Entertainment, the Dublin-based global operator and parent of FanDuel, acquired a 56% controlling stake in NSX Group for approximately $350 million, with Flutter projecting $220 million in additional 2025 revenues from the business and identifying Brazil as potentially its fourth-largest market. The company is led by CEO and founder João Studart, operates with a lean team of 11-50 employees, and integrates with Flutter's 'Flutter Edge' shared capabilities in technology, risk, and operations while maintaining a local Brazilian brand identity. NSX's strategic positioning sits at the intersection of Brazil's newly formalized online gambling regulatory regime and the global scale economics of the Flutter group, giving it a structurally advantaged footprint in one of the world's largest emerging regulated markets.
NSX Group firmographics
Firmographics- Name
- NSX Group
- Legal name
- NSX Group
- Website
- https://nsx.bet
- Company type
- Private
- Founded year
- 2020
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- NSX Group operates Betnacional, a Brazilian online sports betting and iGaming platform serving Brazilian consumers via mobile and web. A majority stake was acquired by Flutter Entertainment for $350 million in May 2025.
- Ownership category
- akta.pro rank
NSX Group industry classification
Industry- Product category
- Online Sports Betting and iGaming
- NAICS
- Other Gambling Industries (713290), Gambling Industries (7132)
- SIC
- Services-Miscellaneous Amusement & Recreation (7990)
- akta.pro primary industry
- iGaming Platform Providers (Turnkey/Casino & Sportsbook Platforms) (MPAEAKAA)
- akta.pro secondary industry
- Sportsbook Trading, Odds & Feed Providers (MPAEAKAB)
Keywords
Where NSX Group is headquartered
LocationHeadquarters
- HQ city
- London
- HQ country
- United Kingdom
- HQ region
- Europe
Offices1 record
Markets served
NSX Group business model
Business model- GTM type
- B2C
- Offering type
- Software
- Cost components
- Marketing or Sales, Technology or R&D, Personnel, Operations, Others
Revenue model
- Online Sports Betting: NSX Group operates Betnacional, an online sports betting and iGaming platform in Brazil. The company generates revenue through wagering on sports events and casino-style games. Expected to generate $220 million in additional revenues in 2025 as part of Flutter Entertainment.
Go-to-market motion1 record
Distribution channels3 records
Marketing channels3 records
NSX Group product offering
Product offeringCore offering
NSX Group operates Betnacional, a mobile-first online sports betting and iGaming platform that offers sports wagering and casino-style games to Brazilian consumers through mobile apps and a web platform. The company also engages in sports sponsorships and responsible gaming campaigns featuring prominent Brazilian personalities, while leveraging Flutter Entertainment's technology, market expertise and operational support following Flutter's 56% acquisition in May 2025.
Product overview
NSX Group is a Brazilian digital entertainment company that operates primarily through its Betnacional brand. Betnacional is an online sports betting and iGaming platform that serves the Brazilian market. Flutter Entertainment acquired a 56% stake in NSX Group in May 2025 for approximately $350 million, positioning Brazil as potentially Flutter's fourth-largest market. The company offers sports betting, casino games, and promotional partnerships with Brazilian sports clubs.
Differentiator
Problem solved
Functional benefit
Brands
- Betnacional: NSX Brasil's primary brand for digital entertainment and sports betting in Brazil
Products and services
- Betnacional Online Sports Betting and iGaming Platform Mobile-first online sports betting and iGaming platform that offers sports wagering and casino-style games to Brazilian consumers, accessible via iOS and Android apps and the web at betnacional.bet.br.
Companies that use NSX Group
Customer profileSegments1 record
Ideal customer profiles1 record
NSX Group technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
NSX Group partnerships and signals
Strategic signalScale indicators5 records
Recent moves6 records
Expansion highlights6 records
NSX Group competitors and assessment
Company assessmentBroad incumbents
- Flutter Entertainment: Controladora da NSX/Betnacional desde maio de 2025; é a maior operadora global de sports betting (FanDuel, PokerStars, Betfair, etc.) e fornece tecnologia, capital e expertise estratégica – peer estrutural e acionista majoritário.
- DraftKings: Operador líder de sports betting e iGaming nos EUA, pertencente a investidores comparáveis ao ecossistema Flutter; comparável em modelo de plataforma integrada de sportsbook + cassino digital, embora atue em geografias distintas.
- Bet365: Maior operadora global de sports betting e iGaming, atuante no Brasil; oferece plataforma integrada de sportsbook e cassino comparável à Betnacional, com escala muito superior e marca estabelecida internacionalmente.
- Betsson Group: Grupo europeu de iGaming com presença no mercado brasileiro através de marcas como Betsson e Betsafe; oferece sportsbook, cassino e promoções comparáveis à Betnacional.
- Sportingbet (GVC/Entain): Operador estabelecido de sportsbook pertencente à Entain, com operação de longa data no Brasil; oferece produtos de sports betting e cassino comparáveis aos da Betnacional em termos de modelo de negócio e público-alvo.
Direct peers
- KTO Group: Operador brasileiro de sportsbook e cassino online com licença local; compete diretamente com Betnacional no segmento de apostas esportivas para consumidores brasileiros via plataforma mobile-first.
- Betsul: Operador brasileiro de sports betting focado em mercados locais e patrocínios esportivos; compete diretamente com a Betnacional pelo consumidor brasileiro com abordagem similar de marketing esportivo.
- Novibet: Operador internacional de sportsbook e cassino com operações ativas no Brasil; compete diretamente com a Betnacional oferecendo plataforma mobile-first e produtos similares ao consumidor brasileiro.
- Betano (Kaizen Gaming): Operador global de sportsbook e iGaming com forte presença no Brasil através da Betano; compete diretamente com Betnacional pelo mesmo público consumidor brasileiro com oferta similar de apostas esportivas e cassino online.
Emerging players
- PokerStars (Flutter): Marca irmã dentro do ecossistema Flutter, oferece poker online e cassino; adjacente ao portfólio Betnacional em iGaming, mas com sobreposição limitada via mesmo grupo controlador.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks5 records
Key highlights6 records
Customer concentration
NSX Group social profiles
Digital presenceNSX Group financial estimates
Financial estimateRevenue estimate
Valuation estimate
NSX Group leadership team
Management profileNumber of profiles
Profiles1 record
NSX Group funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
NSX Group M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about NSX Group
What does NSX Group do?
NSX Group operates Betnacional, a mobile-first online sports betting and iGaming platform that offers sports wagering and casino-style games to Brazilian consumers through mobile apps and a web platform. The company also engages in sports sponsorships and responsible gaming campaigns featuring prominent Brazilian personalities, while leveraging Flutter Entertainment's technology, market expertise and operational support following Flutter's 56% acquisition in May 2025.
Is NSX Group a public or private company?
NSX Group is a private company. It is classified as corporate owned and is currently operating.
When was NSX Group founded?
NSX Group was founded in 2020. It employs 11 to 50 people.
Where is NSX Group based?
NSX Group is headquartered in London, United Kingdom, in the Europe region.
How does NSX Group make money?
One revenue line is on record: online Sports Betting.
Who are NSX Group's main competitors?
Broad incumbents on record are Flutter Entertainment, DraftKings, Bet365, Betsson Group and Sportingbet (GVC/Entain). Direct peers are KTO Group, Betsul, Novibet and Betano (Kaizen Gaming). PokerStars (Flutter) is listed as an emerging player.
Does NSX Group have an API?
No public API is recorded for NSX Group.
What industry is NSX Group in?
NSX Group's product category is Online Sports Betting and iGaming. Its primary akta.pro industry code is MPAEAKAA, iGaming Platform Providers (Turnkey/Casino & Sportsbook Platforms), with a secondary code of MPAEAKAB, Sportsbook Trading, Odds & Feed Providers. Its NAICS code is 713290 and its SIC code is 7990.