Banco Master’s Daniel Vorcaro and União Brasil president Antonio Rueda were hidden partners in bet.bet talks

Messages obtained by Estadão show Banco Master owner Daniel Vorcaro discussing a partnership with Antonio Rueda, president of União Brasil, to build the online betting brand bet.bet. For high-risk PSPs, the relevant part is not the political color of the story; it is the structure: approved betting operation, nominee-style ownership, and the Ministry of Finance asking for the fund’s beneficial owner.

1. bet.bet was approved in 2024 by Brazil’s Ministry of Finance to operate in the betting market. Formally, its shareholders are PixBet owner Ernildo Junior and music entrepreneur Kleryston Pontes Silveira, who manages artists including Xand Avião and Nattanzinho. The company also includes the Oracle investment fund, and Estadão confirmed that the fund’s money belongs to Daniel Vorcaro.
2. The chats show Vorcaro, Banco Master’s owner, dealing with the bank’s then-legal executives Luiz Rennó and André Kruschewsky on a partnership with Rueda and Kleryston Pontes. Rueda’s name appears repeatedly in the negotiations, and he did not comment when contacted.
3. In August 2024, Kruschewsky and Vorcaro were already discussing business with Rueda and aligning the hiring of União Brasil’s president’s law firm, with a promised payment of R$ 15.4 million. That is the kind of number that tells you this was not a casual intro call.
4. On 5 September 2024, Kruschewsky messaged Vorcaro about bet.bet and said a MOU (Memorandum of Understanding) had been signed, describing it as a draft-style agreement between future partners to align expectations. Vorcaro pushed back immediately: “Bet?? Que mou???? Segura essa porra. Eu nem li. Olha (sic) a confusão que tá isso.” Kruschewsky replied that the document referred to the deal “being handled with Rueda, Kleryston, etc.”
5. Vorcaro then asked for the process to be paused. The timing matters: the day before that exchange, Pernambuco Civil Police had arrested lawyer Deolane Bezerra on suspicion of money laundering tied to illegal gambling, and she would later be investigated for laundering money for Primeiro Comando da Capital (PCC).
6. Six days later, on 11 September, Rennó told Vorcaro that “André and Rueda are on the case because of the bet. Contribution etc.” Vorcaro said he had met with both of them the day before and added: “Vamos fazer o aporte aos poucos.” In plain English: the money would be put in gradually.
7. On 27 September, the Ministry of Finance had demanded identification of the Oracle fund’s ultimate beneficiary. To avoid exposing Vorcaro in the ownership structure, Rennó suggested replacing the registered name. That is the key compliance point here: once the regulator starts asking for the beneficial owner, the paper chain becomes the story.

For operators and PSPs, this is a useful reminder that Brazil’s regulated betting market is not only about licensing. Beneficial ownership, nominee shareholders, and source-of-funds questions can become central fast, especially when political figures, banks, and betting brands are all in the same room.