Payment ordinance puts an end to financial insecurity in sports betting and online gambling

After months of waiting, following the sanction of the law regulating sports betting in December 2023, Regulatory Ordinance SPA/MF No. 615/2024, which defines the rules for payment transactions in the betting sector, finally came into effect on April 18. The measure, welcomed enthusiastically by betting companies and payment methods, aims to bring more security, reliability, and transparency to financial transactions in this market in Brazil.

The Betting Payments Ordinance emerges as an important milestone for the market, establishing a set of clear and objective rules for financial transactions, focusing on security, reliability, and transparency.

For betting companies that have always prioritized security and transparency, the Ordinance represents an opportunity to stand out in the market and gain the trust of bettors. Payment companies like Pay4Fun, which have dedicated themselves to implementing the best international practices of due diligence, self-regulation, and security since their inception, are already meeting the new requirements and ready for this new phase of the sector, in order to strengthen their position in the market.

The entry into force of the Ordinance also serves as a warning to betting payment companies that operated with questionable practices and loopholes in the legislation. From now on, these companies will have to adapt to the new rules and invest in robust payment solutions, under the risk of being sanctioned or even prevented from operating in the Brazilian market.

As the Director of Governance, Risks, and Compliance at Pay4Fun, I have closely followed this need for market regulation. Pay4Fun was the first authorized, regulated, and supervised payment institution by the Central Bank, operating in the sector, providing the financial security that the market needed.

What changes?

Among the main modifications are:

• Only Pix, TED, debit cards, or prepaid cards will be accepted as payment methods, and a registered account with the gambling company is also required.
   
• Cash payments, credit cards, payment slips, and cryptocurrencies will not be allowed.
   
• Bets and prizes can only be paid through electronic transfer between bank or payment accounts.
   
• Betting houses must have transactional accounts in authorized financial institutions.
   
• Prizes must be paid to winning bettors within 120 minutes after the event ends.
   
• If the betting house does not have enough money to pay the prizes, it must use the money from its proprietary account.
   
• Bettors can choose to keep their prizes in their graphic account with betting houses to use in new bets.
   
• Betting houses must have policies to manage their liquidity risks and implemented processes to ensure this management.
   
• They must maintain financial reserves to guarantee the payment of prizes and other obligations.
   
• Betting houses must keep their own resources in segregated accounts from the account where bettors' resources are deposited.
   
• Betting houses, under no circumstances, can use bettors' resources for their own obligations (e.g., advertising, administrative expenses, etc.).

What to expect now?

The online betting market in Brazil has been growing at a rapid pace in recent years, driven by digitization and the population's quest for entertainment. According to estimates, the sector moves billions of reais per year, but it still lacked specific regulation for financial transactions.

With the entry into force of the Ordinance, it is expected that the online betting market in Brazil will become even more professional and secure. Betting companies will have to adapt to the new rules and invest in robust and reliable payment solutions.

For bettors, the Ordinance means more diligence in payment security and transparency in information. This should contribute to a more positive and responsible gaming experience.

For operators, the measure brings greater reliability to operations, which can strengthen merchants' trust and attract new betting houses wishing to operate in Brazil, including international ones, as the country already ranks among the main betting markets in the world.

For those who prepare for the new requirements, the Ordinance opens up a world of opportunities. The online betting market in Brazil is still growing, and the greater security and transparency provided by the Ordinance can be a decisive factor in further boosting the sector.

We believe that the Betting Payments Ordinance is a historic milestone for the development of the online betting market in Brazil. The measure will bring more financial security to bettors, promote fair competition among betting companies, and contribute to the professionalization of the sector.


Camila Caresi
With an MBA in Compliance and Banking and over 25 years of experience, including over 18 years at Banco Santander, Camila Caresi has solid experience in Corporate Governance, Risk Management, Internal Controls, Internal Audit, and Compliance, actively participating in transformation and innovation projects. In July 2022, the executive accepted the challenge of leading the Risk and Compliance area of Pay4Fun, a payment institution that offers financial solutions for the entertainment sector, to explore the new tools offered by the market, as well as to focus more on innovation and current segment services.