The panel "Order and Progress? Analyzing the New Regulatory Environment for Gaming in Brazil" took place on the opening day of ICE London 2024, during ICE VOX (at ICC Suite, London Excel), to provide attendees with the latest updates on the now regulated Brazilian market for sports betting and online gaming.
The panel was moderated by Gildo Mazza, editor of Games Magazine Brasil and a journalist with nearly 30 years of experience in the gaming and iGaming sector. He was joined by José Francisco Manssur, special advisor at the Ministry of Finance and responsible for the regulation process of sports betting and online gaming; Ronan Moreira, president of Loteria Mineira; Ari Célia, co-founder and advisor of Pay4Fun; and lawyer Roberto Brasil Fernandes.
Manssur highlighted that with the new regulation, "operators now face challenges related to taxation, restrictions on bonuses, limitations on payment methods, taxation on bettors, and strict advertising rules."
The Ministry of Finance secretary commented: "Once again hope has overcome fear. Brazil is now a regulated market! We have truly built what we have built so far, but there is still much to be done." He mentioned the regulations (three in total) that are still to be issued to update the law and everything related to advertising. "We are confident because a large number of operators have shown concern that advertising be responsible," added the Finance advisor.
Finally, Secretary Manssur explained how the windows for licensing and authorizations for applicant companies will work. "The Ministry of Finance intends to open a registration window in March for operating sports betting and online gaming in Brazil and publish the first official list of authorized companies in July. Then, we will open a second window to add more companies, from October to December, and later on, a third one."
"The fiscal issue will not be solved by the bets, but the bets will help a lot," he concluded, regarding the fees that will be collected due to regulation.
For lawyer Roberto Brasil Fernandes, the second to speak, "we must have the rules of the game very clear. The federal law will delimit the states and their lottery capacities."
"With this market operated by Brazilians, we will have the possibility to work with clear rules and the right companies," said the specialist lawyer.
"We wanted to put an exclamation point in this title of 'Order and Progress' instead of a question mark. We came here for that," expressed Ronan Moreira, president of Loteria Mineira.
Ari Celia, co-founder and advisor of Pay4Fun, stated that his company will strive for everyone to work under regulation and is willing to collaborate: "We are very hopeful for this chance for Brazil to open up to gambling."
"Pay4Fun was invited by the Ministry of Finance to present ideas on all topics related to best practices, compliance, and governance regarding payment methods, and we hope for an inclusive regulation that soon brings the maximum number of international operators with the premise of complying with fundamental pillars," explained the executive.
With 214 million inhabitants and 42.5 million already engaged players, Brazil is one of the largest markets in the world. However, now operators need to face several challenges, such as taxation, restrictions on bonuses, limitation of payment methods, taxation on bettors, and strict advertising rules.
The panel sought to answer crucial questions for local and international operators interested in the expanding Brazilian market potential. Topics such as the eligibility process for gambling licenses in Brazil, fees, taxation, and regulatory norms for operators were discussed, highlighting the complexities and opportunities inherent in this dynamic scenario.
Source: Exclusive GMB
