According to information from the Ministry of Finance, each company will need to pay a concession of R$30 million (US$ 5.25m) to operate in Brazil, following the new rules approved by Congress, which include measures to combat fraud, money laundering and abusive advertising.
Since May, the ministry has been receiving contributions from companies. Last Friday alone, seven new requests were filed.
As of January 1st of next year, all companies that do not obtain authorization may be punished. Authorized bookmakers must operate with domains listed in “bet.br”.
Even before this deadline, the Lula government is considering adopting measures to prevent the use of Bolsa Família money in sports betting.
A study by the Central Bank revealed that, in August alone, 5 million beneficiaries of the social program spent R$3 billion (US$ 525m) on bets, facing situations of economic vulnerability and food insecurity.
“If the regulation works, the problem will be solved. If not, I will close down the activities, to be clear,” said the president in an interview last October 17th.
Source: Metrópoles
