Brazil releases requirements for operators wanting to provide sports betting

Updated:2024-03-20 09:10    Views:142

Brazil’s Ministry of Finance has published in the Official Gazette its official outlines for bettors' rights, and aspects needed for operators aspiring to provide sports betting in the country. 

Brazil is permitting 30 days for operators to register their interest in providing sports betting to Brazil. To register, the company must submit documents demonstrating its legal qualification, fiscal regularity and labour, economic-financial qualification and technical qualification.’

The document, Decree 1330, specifies the rights of bettors, AML, guidelines for RG and fixed-odds betting, as well as non-negotiables for companies wishing to operate in Brazil.

The document defined that the operation of sports betting must be in a competitive environment and can be marketed through any distribution channels, both physical and online.

Preliminary provisions covered fixed-odds betting,Online Casino Games for Real Money commercial exploitation of the lottery and rigging in general. 

For foreign companies wishing to operate in the country, they must have a subsidiary in Brazil to qualify to provide sports betting. Additionally, proof of the company's incorporation will also be required prior to being granted authorisation for the licence.

The sports betting platform must also meet technical and operational specifics and it must be certified by a laboratory whose capacity has been recognised by the Ministry of Finance 

Furthermore, companies must provide customer services in Portuguese and must operate, for free, 24/7/365. 

In order to prevent anti-terrorism and money laundering, companies that apply must also have designated individuals for: accounting, data security, ombudsman, operational security of the betting system and integrity and compliance staff.

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