Oddsgate supports regulation and strengthens partnerships in Brazil’s betting market
The company supports its partners in South America.
Press release.- Brazilian regulations for betting houses are advancing, with the official start of licensing processes that will allow these companies to operate legally in the country. Oddsgate, always attentive to changes in the regulatory scenario, remains alongside its partners, especially those already at the forefront of this new context.
Óscar Madureira, chief legal office (CLO) of Oddsgate, reinforced this stance and commitment of the company that operates in the development and commercialization of software for casino and online sports betting platforms: “It’s with great enthusiasm that we announce that Oddsgate welcomes the new regulations in Brazil’s sector very positively. We’re prepared to work closely with regulatory authorities, local operators, and other interested parties to ensure our platform continues to comply with all legal and regulatory requirements while providing excellent customer service.”
By rigorously addressing all regulatory requirements, the company aims to lead by example, offering continuous support and positioning itself as a safe haven for its partners, navigating the complex paths of regulation while ensuring that all steps are taken within the law.
With an attitude that values integrity, data protection, and updated certifications, Oddsgate said it is proud to encourage and congratulate those on the front line of Brazilian regulation, especially customers and partners.
The team recently conquered a new certification, the GLI-33, and now is celebrating the growing list of bookmakers already starting Brazil’s regulatory process. Emphasizing the importance of other companies following this same path, Madureira added: “We believe that the regulatory movement in Brazil represents a unique opportunity to strengthen the market, providing a safe and fair experience for all users.”
Since December 2023, when Law 14,790/23 was enacted in Brazil, some iGaming and sports betting companies have been working to obtain the necessary permissions to operate in the country. However, in August, with the closing of the licence application period, companies that were candidates to operate legally came to light under evaluation of their compliance with the established criteria.
The first permits are set for January 2025 as part of the government’s efforts to regularize the sector and ensure transparency and security under the new Ministry of Finance regulations.
See also: Oddsgate advances in compliance with GLI-33 certification
Madureira added: “We’re confident that the regulation will bring significant benefits to the industry and create a more transparent and safe environment for Brazilian consumers. Furthermore, this regulatory evolution will allow companies like ours to invest more confidently in Brazil, creating new jobs and promoting economic growth.”
As in any licencing and certification process, Brazilian legislation imposes strict criteria. Bookmakers must meet requirements for legal qualification, tax and labor regularity, suitability, economic-financial and technical qualification, and pay a fee of R$30m, valid for five years.
Oddsgate raises the flag of possibilities. The CLO said: “We look forward to exploring the new opportunities that the Brazilian market presents and continuing to contribute to developing a responsible and sustainable online betting sector in the country.”
