The club was founded on 2 January 1921, by sportsmen from the Italian colony of Belo Horizonte as Societ Sportiva Palestra Itlia. As a result of the Second World War, the Brazilian federal government banned the use of any symbols referring to the Axis powers in 1942.

Sportsbet.io, as an extension of the Coingaming Group, has offices in Estonia, United Kingdom, Ukraine, Philippines, Brazil and Malaysia. Sportsbet.io was established in 2024 by the founder and chief executive of Coingaming Group, Timothy John Heath.

What is the Wong teaser in football? The Wong teaser is a betting strategy developed by sharp bettor Stanford Wong that recommended to play a two-team, six-point teaser and to only play spread favorites of -7.5 to -8.5 and underdogs from +1.5 to +2.5.