Compliance, responsible gaming, mental health, and advertising were some of the topics discussed on the LEC Cast channel on YouTube, with the presence of Raiana Falcão, Deputy Secretary of Sanctioning Action of the Ministry of Finance's Department of Prizes and Betting, and Renata Andrade, President of the Anti-Corruption and Compliance Committee of OAB/SP.
Hosted by anchor Marcio El Kalay, the specialists debated the current state of regulation for sports betting and online gaming. Both experts, specializing in compliance, agreed on the importance of the sector being conducted in accordance with all federal regulations as well as best international practices.
Raiana provided a brief history of the activity, from legalization to the current moment, which is now regulated and with companies seeking approval from the Department of Prizes and Betting. She also mentioned the old operation of casinos in Brazil, emphasizing that any type of gambling should be regarded as entertainment.
"We know these activities are widely practiced, but in 2018 there was authorization, at least for the exploration of sports betting, which remained unregulated until 2023. With Law 14,790, we have entered a new phase, with the regulation of the sector," she said.
Both experts emphasized the importance of regulation to organize the entire activity and ensure the promotion of responsible gaming. They highlighted measures such as awareness campaigns and direct communication with bettors to prevent issues like over-indebtedness and mental health impacts.
Additionally, they pointed out the need for self-regulation and responsibility in betting advertising, especially concerning digital influencers. For them, it's essential to strike a balance between allowing the market to grow and protecting consumers, with an emphasis on transparency and the legality of operations.
Renata Andrade praised the federal government's decision to establish general provisions for the sports betting modality that reflect the interests, rights, and duties of both bettors and operators.
"The rules were well crafted in terms of setting criteria against money laundering and other financial crimes, as well as the issue of responsible gaming," Renata stated.
"The sector has grown 736% since 2021 when there were 26 betting houses operating in Brazil, and by 2024, there were already 217 operators. Today, betting accounts for about 1% of GDP, higher than in the United States, where it reaches 0.4%," Raiana pointed out, justifying the importance of the sector and its regulation in the country.
When asked about the government's ability to oversee the activity, she noted that operators will have to comply with the law in all its aspects, including reporting on suspicious activities.
"At the Ministry of Finance, we have the Subsecretariat for Monitoring and Oversight, which will act as the enforcement authority. It is prepared and equipped with an annual plan to ensure that best practices are followed," she commented.
"If any non-compliance is identified, the operator will be subject to a sanctioning administrative process, which may result in penalties ranging from warnings to fines that can reach up to R$2 billion or the revocation of the license," she added.
Another issue raised was the need for professionalization among those involved in this emerging market and the importance of educating the public about safe gaming practices to combat potential psychological disorders.
"It will also be up to the family to monitor minors' attempts to access sports betting since the betting houses themselves will have player identification mechanisms, but parents must remain vigilant to ensure that children and adolescents do not enter using adult profiles."
Source: GMB
