HomeSports BettingBrazil's Sports Betting Market Gears Up with New Regulatory Office

Brazil’s Sports Betting Market Gears Up with New Regulatory Office

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February has just begun, and to get off on the right foot, I will share good news about the sports betting regulation in Brazil. Two weeks ago, I wrote an article (here) explaining the changes for bettors and operators with the new regulation approved on December 30, 2023. More is about to come.

Yesterday, 31/01, President Lula signed a legal proclamation that sets the tone for the structure that will supervise and regulate the sports betting market by creating a “Prizes and Bets Office” (Secretaria de Prêmios e Apostas, SPA) in Brazil. The office will be under the Treasury Department and will regulate sports betting and online games.

The Office will also carry out actions to monitor and prevent money laundering, as well as market monitoring, aiming, among other points, at establishing responsible gambling policies to prevent compulsive or pathological gambling disorder, for prevention and not induction into debt, and to protect vulnerable people, especially minors, in addition to monitoring and supervising communication, advertising, and marketing actions.

The Office will be in charge of overseeing and enforcing all regulations outlined in the soon-to-be-issued ordinances by the government and Ministry of Finance, including applying penalties to operators who do not adhere to them.

From now on, with the official creation of the Office and its Sub-Departments, the publication of the first regulations and ordinances to open the process of requesting licenses by operators, as well as other disciplinary measures, is expected in the coming days.

Alexandre Pereira
Driving Payment Success with Banks, Acquirers and Card Schemes 🏦💳 | Payments Strategy ♜💡 | Global Cross-Border Payments Expert 🌎 | Payment Partnerships 🤝 | Payment Consulting 📋🎯

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