The Prizes and Betting Secretariat (SPA) of the Ministry of Finance published in the Official Gazette of the Union an ordinance that prohibits the operation of betting sites starting October 1st without authorization or that have not requested the application from the federal government. Thus, ‘Bets’ will only be able to operate with prior authorization to be issued by the agency itself.
Starting in October, companies that have not requested authorization will be classified as illegal until their operation is authorized by the Treasury. Betting sites that operate in Brazil without authorization will be subject to the penalties provided for by law, which provides for fines of up to R$2 billion (US$ 360m) per violation.
Those who have requested authorization but were not yet operating will have to wait until January to begin operations — that is, if they obtain authorization from the ministry and all requirements are met.
Official position
The Brazilian Institute of Responsible Gaming (IBJR) welcomes the publication of Ordinance SPA/MF No. 1,475, of September 16, 2024, which establishes the conditions and deadlines for companies interested in operating in the Brazilian fixed-odds betting market to adapt.
The Ministry of Finance reported that, as of October 1, 2024, fixed-odds betting companies that have not requested authorization to operate in Brazil will have their activities suspended throughout the national territory.
The measure will be essential for an initial cleansing of the market and the permanence of brands that demonstrate a genuine interest in operating in the regulated and healthy national market, coexisting harmoniously with other segments of the economy.
Brazilian Institute of Responsible Gaming (IBJR)
Source: GMB
