🚨 SportBetting 🇧🇷 | Alert on important deadlines for iGaming & SportBetting companies Operating in Brazil: ...
iGaming Operators will have until August 20th (2024) to request authorization to operate in Brazil by Jan 1st (2025). This statement was made by the Secretary of Prizes and Bets at the Ministry of Finance, Régis Dudena.
Last Thursday, 6th, the Pinheiro Neto office, in São Paulo, held a presencial event, which was also broadcast in real time and had audiences from other countries. Prizes and Bets secretary, Régis Dudena, was the big name of the night.
First phase regulated iGaming and SportsBetting certification laboratories
Regulation is a very important topic today, hence the desire to learn about the processes that will follow the next phases of regulation. According to Dudena, until the end of May. In this first phase, the rules were intended to enable the laboratories responsible for technically certifying the capacity of bookmakers and also established payment rules, systems and platforms and began the process of implementing the system.
The next phase will be the presentation of ordinances that will be related to AML. In the third phase, online games will be regulated, in addition to inspection and sanctioning actions for the market.
Dudena also highlighted that those interested in operating in the Brazilian market can register at any time, however, anyone who wants to start operating in 2025 has until August 20th (2024) to request authorization. After registration, SPA (‘Secretaria de Prêmios e Apostas’) will review the list of necessary documentation and this will include the protocol that the operator is being analyzed by a laboratory, as well as who the controllers are, the origin and destination of the resources moved.
As a result, those approved will be notified by November 18th, and the grant necessary to operate in the country must be paid by December 18th. Thus, on December 31st, all authorizations will be granted and operators will be able to provide services to the country. Furthermore, he cited some other control initiatives such as:
* Registration by biometrics;
* Money from bets will only come from accounts belonging to the holders;
* Deposits can only be made from electronic accounts.
Payment will only be made by institutions authorized by the Central Bank.
“We need to have full control of the financial flow, where it came from and where it migrated to,” he says. “The model was designed to achieve total visibility in ‘follow the money’”. According to Dudena, the prospect of an increase in financial service providers or the entry of cryptoassets will not happen in the short term.
Finally, Dudena stated that Brazilian partners/shareholders will have a share of at least 20% of the concessionaire and can be either Brazilian natural persons or Brazilian legal entities.
#iGaming #SportsBetting #onlinecasino #BrazilianSportsBetting
P.S.: adapted from "betinfo com br" website source. Link on 1st comment below:
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