The sports betting and online gaming market in Brazil has been undergoing a profound transformation since the enactment of Law 14,790, which regulates the activity in the country. To guide operators interested in obtaining their license and operating in the regulated market, Caf has just released the ebook "Sports Betting in Brazil: Deciphering Regulation."
"Our goal is to help you understand everything from the requirements to obtain the operating authorization to the procedures necessary to offer the service to bettors," explains the company in the ebook introduction.
To make understanding easier, Caf has adopted a question-and-answer style regarding the most important items contained in Law 14,790/2023 to simplify the content.
"We understand that being familiar with the rules is essential for success in this market, which already moves around R$ 100 billion in the country and has enormous growth potential. That's why we're here to guide them through the policies, requirements, and procedures established by the government, helping them achieve compliance and establishing a reliable environment for all involved," highlights Caf.
Among the topics covered are:
- Operating regime
How authorization occurs
Conditions for reviewing the granted authorization
- Betting operator agent
Who can explore
What are the requirements for a company to be eligible
What corporate policies are mandatory
- Authorization procedures
When authorization can be requested
How is the authorization process
Criteria for issuing authorization
Conditions for issuing authorization
- Offering and placing bets
Allowed betting types
What electronic channels and physical establishments should display in an easy-to-view location
- Payment transactions
Restrictions imposed
Requirements for financial institutions to offer financial services to bettors
Required identification procedures
Records to be kept by operators
Procedures to be adopted by operators to analyze bets for suspicious activity
- Bettors
Who is prohibited from participating in betting
How operators should report impediments
Rights guaranteed to bettors
What the operator should offer in terms of customer service to bettors
Conduct prohibited by operators
- Prizes
How prizes should be paid
Prizes can be kept in a virtual wallet for use in new bets
Income Tax Rate applicable to net prizes
What happens if the player does not claim the prize within the deadline
How unclaimed prize amounts are reversed
- Inspection and penalties
What the operator should do when identifying signs of manipulation of events or results
Who the operator must respond to in terms of requests and requests
What penalties can be applied to individuals and legal entities that commit infractions
What is a term of commitment and under what circumstances it can be signed.
The ebook can be downloaded for free here.
Founded in August 2019, Caf offers innovative solutions for user identification and protection in the digital environment. Specializing in identification and facial recognition, the company creates security solutions for banks, fintechs, marketplaces, carriers, e-commerce, cryptocurrency businesses, and sports betting companies, among others.
With offices in São Paulo, Rio de Janeiro, London, Toronto, Austin, and Venâncio Aires, Rio Grande do Sul, the startup has in its client portfolio names such as Asaas, Cora, KTO, Localiza, Magalu, and Vivo.
Source: GMB
