O Federal government announced this Friday, October 27th, the publication of rules aimed at regulating the legal operation of online betting in Brazil, also known as “bets“. These guidelines were made official through an ordinance published on Official Gazette (DOU) and cover all companies that are commercially dedicated to the lottery activity of fixed-odd betting in the national territory. Understand better. 4j1fn
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According to published regulations, no limit will be established on the number of authorizations for these companies to operate. The main objective is to offer a broad and fair competition in the online betting sector in Brazil.
The supervision and inspection of this market will be under the responsibility of two specific secretariats, one linked to the Ministry of Finance and the other to Ministry of Sports. These secretariats will be responsible for ensuring compliance with regulations in their respective areas of competence.
For a company to obtain authorization to operate, it must meet a series of requirements. This includes the need to have legal qualifications — that is, to have a active CNPJ –, comply with tax and labor obligations, present proof of your financial health and demonstrate technical qualifications in the field of online betting. These measures aim to guarantee the integrity and legality of operations in the online betting sector in the country.
Furthermore, as part of the regulations, foreign companies wishing to operate in Brazil will have the obligation to establish national subsidiaries in the country as a requirement to obtain operating authorization. Additionally, the participation of “foreign companies that have had their authorization(s) revoked or revoked in other jurisdictions in the last five years“. This aims to guarantee the integrity of operations in the online betting market.
Another relevant point is the requirement that bets implement strict policies to prevent match-fixing and money laundering. This reflects the government's commitment to ensuring the integrity of sporting competitions and preventing illegal betting activities.
There is also an important restriction: companies that have athletes or sports managers on their staff will not be authorized to operate in the online betting market in Brazil. This measure aims to avoid conflicts of interest and guarantee impartiality in the sector, aiming to protect the integrity of sport and the betting industry in the country.
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In July, the government published a Provisional Measure which established some rules for the online betting sector, although this measure has not yet been revised. Meanwhile, a bill was being processed in the National Congress that aims to regulate the activities of bets.
This project has already been approved in Câmara dos Deputados in September and addresses several aspects, including banning the participation of certain categories of people. These restrictions include minors, as well as individuals who have influence on the outcome of sports betting, such as referees, coaches, athletes and sports coaches. Servers who perform functions related to sector regulation at the Ministry of Finance are also hindered to participate.
The bill consideration process takes place simultaneously in two Senate committees: the Economic Affairs Committee (CAE) and the Sports Commission (CEsp). Angelo Coronel, responsible for the project's rapporteur, expressed the desire to submit it to a vote at the CAE by next week, as the project is being processed with constitutional urgency. According to the internal regulations, the matter must be voted on within 45 days, which means that the vote must take place by November 11th.
And you, what did you think of the government’s measure? Do you think anything will change in the betting market? Tell us Comment!
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reviewed by Glaucon Vital in 27 / 10 / 23.
