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The company has been complying with all requirements to continue operating in the country, under the new regulatory framework, starting January 1st. With the payment of R$30 million for the concession fee, in addition to an additional deposit of R$5 million (US$850) as a guarantee of the operation, made by Levante, the brand takes another step towards operating in the regulated market for 5 years. The resource is intended to cover possible future obligations, such as payments to bettors, reinforcing security and trust in the market.
To obtain the license, companies must undergo a rigorous analysis process by the Ministry of Finance. The requirements range from proof of suitability to technical and financial qualification, including the implementation of advanced security mechanisms, such as facial recognition and exclusivity of financial transactions via Pix, TED or debit card.
In addition, despite the progress with the payment of the Federal Collection Guide (GRU), which can only be made at Banco do Brasil, the process is not limited to just the payment. Companies have up to 30 days to complete the transaction, under penalty of losing their position in the queue and having to restart the entire process.
"Regulation requires a robust financial structure and a well-structured operation. This payment is not only a milestone, but a reflection of the commitment to operate safely, transparently and responsibly. Compliance with the Central Bank's rules is necessary to ensure compliance with the regulatory framework," highlights Marcio Malta, CEO of Sorte Online.
With the regulation, Brazil is preparing to become one of the largest regulated betting centers in the world. To give you an idea, the sector is attracting more and more investments and has a projected tax revenue of R$20 billion (US$ 3.3bn) next year.
"Brazil represents one of the greatest global opportunities for the lottery and betting sector. We are committed to bringing the best international practices to the country, ensuring transparency, innovation and a safe environment for bettors", he concludes.
Source: GMB