The Ministry of Finance has listed requirements for sports betting operators.
Brazil.- The Ministry of Finance published Ordinance No. 1330 on Friday, listing the requirements for sports betting operators ahead of the launch of a regulated market. The ordinance states that all companies interested in entering the market must inform their interest within 30 days in order to “expedite the authorisation process”.
The requirements listed include the establishment of dedicated service centres for customer support. Licence applicants will have to maintain industry integrity and meet ethical and legal standards. They will be required to monitor for irregular or suspicious transactions and report them promptly to the Financial Activities Control Council (COAF).
Operators will also be required to implement safer gambling measures designed to prevent gambling addiction and customer debt. Mandatory customer protection tools will include the ability to set limits on time and losses, break periods and self-exclusion.
The ordinance also prohibits the granting of sports betting licences to companies whose shareholders, directors or corporate members are professional athletes, coaches, referees or directors of national sports teams. Applicants must also have a subsidiary in Brazil.
Third-party payment methods will be prohibited and advertising must meet requirements intended to ensure social responsibility. Operators that wish to express their interest must sign a form and declaration and submit them to [email protected].
Earlier this month, the Senate Economic Affairs Commission named senator Angelo Coronel as rapporteur for Brazil’s sports betting legislation, Bill 3,626/2023. A member of the Partido Social Democrático representing Bahia, he will report on commission meeting developments and relay proposed amendments.
Coronel has reportedly already presented an amendment that seeks to legalise all kinds of gaming in Brazil and another that would repeal the Criminal Misdemeanors Law. Coronel has favoured gambling legislation, having formerly served as rapporteur for a pending bill that seeks the legalisation of casinos.
The Senate’s Sports Commission (Cesp), whose rapporteur is the former footballer Romário de Souza Faria, has put forward 54 proposed amendments.