The online betting segment has become increasingly popular in Brazil in recent years, which has led to the need to regulate sports betting in the country. Although regulation may seem bureaucratic at first glance, it plays an essential role in protecting both bettors and sports betting houses and platforms.
The legislation aims to establish a safe and transparent environment, where rules are strictly followed and monitored, ensuring the integrity of games and the security of transactions. Both national and international betting sites need to adapt to new regulations.
Timeline for Brazilian online betting regulations
In the last ten years, Brazil has had great growth and is not interested in sports betting and online games. Secondly, a survey of Legal Betting in Brazil, between 2015 and 2023, online betting houses will account for more than 1.6 billion accesses. This increase in activity coincided with the legalization of the market in 2018, a significant situation that transformed the dynamics and visibility of the sector in the country.
In December 2023, the approval of Law No. 14,790/2023, which regulates sports betting and online games, marks a new chapter in its history. Here, the sports betting scenario in Brazil is at a crucial point in its evolution, with an intense regulatory agenda being developed at both the federal and state levels.
The main objective of regulation is to ensure a fair, safe and transparent environment for all parties involved. Compliance with these standards protects players against fraud and manipulation, ensuring that the operations of betting houses and platforms are conducted with integrity and responsibility.
Furthermore, regulation helps maintain consumer confidence, facilitates access to regulated markets and prevents illicit activities, promoting a safe and sustainable gaming sector.
The forecast is that, from 2025, all operators that do not have a license at the federal or state level will operate outside the law. This scenario highlights the importance of complying with current regulations to avoid sanctions and ensure the continuity of the operation.
NGX commitment to regulatory compliance
Since its inception, NGX has been up to date with regulations at the national, state and municipal levels. Already certified by BMM Testlabs, the betting platform provider is now seeking triple certification, including 11 certifications – Brasil Federal, GLI-33 and GLI-19. This ongoing commitment to compliance ensures that your systems are always in line with legal requirements.
NGX has legal consultancy from Feijó Souza, one of the two most renowned law firms in the gaming, betting and lottery segment. And about this partnership, Ricardo Feijó, one of the writing partners, comments: “Regulation provides greater legal security for everyone, but it also creates a greater demand from operators for technical and legal knowledge about what is possible to do in the regulated market and how to do it. Having a gaming platform, like NGX, that is already adequate and active in the Brazilian regulated market is a great facilitator for being in legal compliance."
Currently, the company has several clients operating with state lotteries in Brazil, such as Lotep in Paraíba, Lottopar in Paraná and Loterj in Rio de Janeiro. These bodies regulate operator licenses, each with their own rules and requirements. Each regulatory body sets its own guidelines, including proof of concept requirements. NGX guarantees the necessary flexibility to satisfy the requirements of each regulator, ensuring that its systems adapt to different legal requirements.
“Compliance is essential to guarantee the integrity and safety of all parties involved, operators and players. Compliance with all legal and regulatory requirements is essential to building and maintaining trust with our customers and the healthy growth of our business,” says Alexandre Tauszig, commercial director at NGX.
Being regulated means operating within a defined legal framework, with clear rules that guarantee transparency and fairness in operations. Compliance with these standards not only protects players against fraud and manipulation, but also provides a series of benefits for operators:
1. Consumer confidence: Regulation provides greater confidence to players, knowing that they are betting in a safe and supervised environment.
2. Access to regulated markets: Operating in accordance with regulations allows operators to access markets that require strict compliance with regulations, expanding their business opportunities.
3. Fraud prevention: Regulation includes security measures that help prevent fraud and illicit activities, protecting both operators and players.
4. Transparency and audit: NGX ensures that all its processes are transparent and auditable, offering detailed reports and ensuring compliance with the requirements of regulatory bodies. This not only increases the confidence of operators, but also of players, promoting a fair and safe betting environment.
The security of user data is also a priority for NGX. The platform uses cutting-edge technology to protect sensitive information and ensure that all transactions are secure. With NGX, operators can operate in Brazil without running the risk of sanctions for being companies based abroad, thanks to their compliance with local regulations.
The platform strengthens security with geolocation restrictions and enhanced KYC, keeping users within legal limits and reducing fraud. The result is a secure and reliable platform for operators and players.
Being regulated is more than a legal requirement; It is a commitment to the integrity and quality of the service offered, which benefits the entire value chain of the betting sector.
Elevate your game, be NGX
NGX is a leading provider of betting platforms and iGaming solutions. With years of experience in the market, the company is recognized for its excellence, innovation and commitment to safety and regulatory compliance.
Discover how NGX can elevate your iGaming and sports betting operation. For more information about NGX solutions, visit https://www.ngx.bet/ or contact us by email: [email protected].
Source: NGX
