Daniel Vorcaro, the owner of Banco Master, held a stake in the sports betting site Bet.Bet from December 2023 to September 2025, according to Finance Ministry and São Paulo commercial registry documents reviewed by Folha de S.Paulo. His partners, the paper reports, were Ernildo Júnior, owner of the betting company Pixbet, the music businessman Kleryston Pontes Silveira and the singer Xand Avião, a star of forró, a genre hugely popular in northeastern Brazil. The stake surfaced in case files of Operação Compliance Zero, a Federal Police inquiry, made public on September 10, as authorities try to track down the assets of the former banker, whose bank was liquidated in November 2025.
How the ownership was structured
According to Folha, papers filed with the regulator in 2024 split the company four ways: 30% to a company linked to Vorcaro, 30% to HDL JT, held by the cousins Ernildo Júnior and Diomar Tadeu Dantas de Farias, owners of Pixbet (Metrópoles spells the first name Ednildo), 27% to Kleryston and 13% to a group of musicians that included Xand Avião, Zé Vaqueiro and Nattan. Metrópoles, which reported the partnership earlier, found slightly different figures: 23% for Kleryston and 17% for Jacka Participações, the artists' vehicle. Both outlets agree on the central point: Vorcaro's name appeared nowhere in filings with the SPA, the Finance Ministry office that regulates betting. His stake sat inside Bet Participações, whose shares belonged to the Oracle investment fund. The fund's declared sole quota holder was Adriano Garzon Correa, a former paperwork fixer from Nova Lima, in Minas Gerais, who also ran Viking Participações, the holding that owns three aircraft used by the banker. That declaration was made to obtain the 30 million reais betting license, according to Metrópoles. The structure works like boxes inside boxes: open the first document and you find a fixer; Vorcaro's money sits in the last box.
Bet.Bet was built to fight at the top of the market. In February 2024 the partners paid US$ 600,000, about 2.9 million reais at the time, just for the bet.bet web address, the highest price ever paid for a domain outside ".com", according to the specialized site DNJournal, cited by Folha. It is the online equivalent of buying the corner shop on the busiest retail street: the name is easy to find in any search. Each partner brought what they had. The cousins behind Pixbet, a bookmaker that sponsored both Flamengo and Corinthians in 2024, brought operational know-how; Kleryston and the musicians brought their audience; Vorcaro brought the money. The public launch came in a commercial on the Globo show Caldeirão com Huck on July 21, 2024, according to Folha; Metrópoles notes the brand went on to sponsor the show's The Wall segment and 14 editions of the Ensaios da Anitta parties in January 2025.
The bet failed. The house never joined the country's top operators, and in March it was sold to the conglomerate RNGX, owner of Ana Gaming and the Bet7K brand, for an undisclosed price; Brazil's antitrust authority Cade cleared the deal in April. Metrópoles reports the buyer is controlled by Nickolas Tadeu Ribeiro, whom federal prosecutors have charged with money laundering and criminal organization in a case involving the influencer Buzzeira. Vorcaro had left before the sale: two months before Master's liquidation, in November 2025, the partners raised the company's capital from 10 million to 19 million reais and Kleryston took 100% of Bet Participações. On Friday (September 11), Pixbet's lawyer Pyerre Saymon denied that Vorcaro ever owned the company, as the retired police officer Marilson Roseno, under investigation for illegal services to the banker, had said in an intercepted message.
"Pixbet clarifies that the information that Daniel Vorcaro holds, or has ever held, a direct or indirect ownership stake in the Pixbet Group is inaccurate," the company said in a statement.
What we still do not know
The documents show corporate ties and dates; the money is still missing from the picture. No figure has been published for how much Vorcaro put in, and neither outlet shows whether Banco Master funds flowed into the venture. Vorcaro's lawyers did not reply to Folha; the teams for Kleryston, Xand Avião and Pixbet did not reply to Metrópoles. The source of the loudest claim is also shaky: in another intercepted message, Roseno said Vorcaro owned 25% of Atlético Mineiro's SAF (Sociedade Anônima do Futebol, the corporate vehicle that holds Brazilian clubs' football operations), when his actual stake was 8.2%, and mentioned a Bet.Bet shirt sponsorship of the club that never happened (Atlético signed with H2 Bet instead).
The case is a live test for Brazil's new betting rules. A license costs 30 million reais and requires companies to declare their final beneficiary, but the check is only as good as what the company itself discloses: Vorcaro's partnership cleared the regulator with a former fixer as the only visible quota holder. Watch whether the Federal Police extends its asset mapping in the Master case to the betting venture, and whether the sale price to RNGX surfaces in corporate filings. For bettors, the bet.br seal confirms that a house is licensed to operate; who actually owns it still depends on the company's own word.