In recent weeks, several Brazilian news channels have been active in this sector. TV Bandeirantes has also announced its intention to invest in online betting. As published by Veja Magazine, Band is in negotiations with several betting companies, known as ‘bets’.
However, conversations face difficulties regarding the percentage of participation: Band wants to keep 80% of the business, offering only 20% to partner ‘bet’.
TV Globo has also already formalized to the government its interest in operating sports betting in the country. The movement demonstrates the growing interest of large media groups in exploring this emerging market.
Risk rating
Recently, the Ministry of Finance took important measures to regulate the sports betting market in Brazil.
An ordinance from the Secretariat of Prizes and Betting (SPA) was published in the Official Gazette of the Union on May 12th. It establishes that betting platforms must identify bettors. Furthermore, they need to qualify and classify the risk of bettors.
It is also necessary to report suspicious transactions to the Financial Activities Control Council (Coaf)
New rules
The ordinance details that, to qualify a bettor, it is necessary to assess the compatibility between their economic and financial capacity and the bets placed. Furthermore, it must be checked whether the bettor is a politically exposed person or has close relationships with someone who is.
It is necessary to pay special attention to bets that show signs of a lack of economic or legal justification. These bets are not in line with market practices. They suggest signs of money laundering.
Additionally, it is important to note:
* Sports betting in the betting exchange category – bet exchange, where the odds are defined by the bettors themselves – especially when there is evidence of arrangements between bettors to manipulate results and divide prizes;
* Atypical movements in values that may suggest the use of automated tools;
* Incompatibilities between the operations carried out by the bettor and his profession or apparent financial situation.
These new guidelines will come into force from January 1, 2025, when the regulated betting market will begin operating in Brazil. To date, two betting platforms have already been accredited to operate in the country, highlighting the potential and growing interest in this segment.
The changes promise to impact the sports betting market in Brazil, with major players such as Grupo Silvio Santos, TV Bandeirantes and TV Globo investing in this sector. The new regulations also seek to ensure greater transparency and security for bettors. They align the Brazilian market with best international practices.
Source: GMB
