The Prizes and Betting Secretariat (SPA) of the Ministry of Finance announced list of 66 companies that are released starting this Wednesday (January 1st) to explore the national fixed-odd electronic betting market, called bets.
Authorization for companies to operate bets in Brazil depends on the grant payment of R$30 million. Each release ordinance allows the use of up to three brands per company. In total, more than R$2 billion were paid by companies to obtain the grants. The number of authorized companies corresponds to 58% of initial orders (113).
According to the SPA list of companies, the regulated betting market will initially have 139 brands. All must operate exclusively under the “.bet.br” domain. Companies that own the brands will have to comply with financial security standards and responsible gaming practices, and respect anti-money laundering legislation.
The ordinances granting authorization were published in the December 31st edition of the Official Gazette of the Union. Fourteen companies received definitive authorizations and 52 companies had provisional authorizations as they are still pending the presentation of information or documents such as the certification of the betting system.
Legal restrictions
According to the SPA, operating companies that do not have official authorization will not be able to carry out financial transactions and will be blocked on the internet. “Financial and payment institutions are now prohibited from carrying out transactions, the purpose of which is to place fixed-odd bets with legal entities that have not received authorization. Those unauthorized companies, but which continue to have active domains that offer fixed odds betting services, are considered illegal and will be blocked”, details the note from the secretariat.
SPA’s disclosure also states that the regulation “will make it possible to correct structural problems in the sector and mitigate risks associated with betting, such as problem gambling and over-indebtedness.” According to the note, to avoid these problems there will be “strict control of financial flows.”
Furthermore, the granting of credit for bets to users for bets and entry bonuses is prohibited, and bettors must be identified by CPF, with facial recognition.
In an interview given to Agência Brasil After companies filed requests for authorization to explore bets, the Secretary of Prizes and Bets of the Ministry of Finance, Regis Anderson Dudena, the classification of bets was only possible because, after five years of vacuum, during Michel’s governments Temer and Jair Bolsonaro, Brazil now has a law that regulates the sector (Law No. 14,790), sanctioned in December 2023.
