Sports betting companies that sponsor Botafogo, Corinthians and seven other teams from Series B of the Brazilian Championship have chosen not to be included in the Ministry of Finance‘s priority regulatory list.
Despite the deadline for signing the document, these companies decided not to join.
Adhesion to the list, although not mandatory to obtain operating licenses in the country, offers facilities and priority to the 134 companies that signed it. Meetings are already underway at the ministry to address issues related to this process.
However, the department must offer a second window for other companies in the sector interested in regularizing the situation in the national territory.
In an article on the Metropoles portal, Botafogo and Corinthians were mentioned as clubs whose sponsors chose not to join the Treasury list. The São Paulo club is a partner of VaideBet.
In contact with the iGaming Brazil portal, the company that currently provides consultancy for Parimatch in Brazil (current master sponsor of Fogão) reported that the bookmaker “was one of the first companies to join the Ministry of Finance’s list”.
“It is important to highlight that Parimatch wants to be a leader in the industry in Brazil and will do so in accordance with the relevant regulations as soon as they are defined, in the same way as it already does in other regulated markets”, stated in a note sent to the portal.
VaideBet’s absence from the list was announced by journalists João Gabriel and Paulo Saldaña.
Three companies that sponsor Series B teams also did not join the list. Bet7k, for example, sponsors five teams: Brusque, Ituano, Mirassol, Novorizontino and Operário. Guarani is supported by Bitx, and Vila Nova is supported by BETesporte.
Importance of the priority list according to the Treasury
When asked about the relevance of the priority list by the Metropoles portal, the Finance stated that it was necessary to understand the market and estimate the number of companies interested in the commercial exploitation of fixed-odds bets in Brazil.
Furthermore, the list offers parameters for sizing the team that will carry out the activities provided for in the legislation, such as estimating revenue and starting data sending tests.
“The way authorization requests are processed will be detailed through an ordinance. The federal government’s act will detail ‘the beginning of the period for sending applications, observing the chronological order of the protocols'”, stated the Treasury.
The Finance guaranteed that it will analyze all grant requests, regardless of membership on the list.
Furthermore, it is expected that all companies that comply with legal and regulatory requirements will be able to begin authorized operations on the same date.
Deadlines and industry regulations
Companies will have six months to comply with the law. After this period, those that do not obtain authorization will not be able to operate in Brazil or carry out any communication, advertising or marketing actions until they meet the legal requirements and obtain authorization from the ministry.
The sector’s regulations are expected to be completed in the first half of the year, with authorized operations beginning in the second half of the year.
Positioning of betting companies and clubs involved
Corinthians reported that it “received the necessary information for the club’s legal department to approve the sponsorship contract” and that VaideBet “is committed to the objective of complying with Brazilian regulations for operating in the segment within the legal deadline”.
“The brand trusts that, given the current scenario, the government will quickly analyze all requests made,” said VaideBet.
Guarani reported that it is aware of Bitx’s interest in obtaining the license from the Treasury and that it has been since the first conversations they had.
Talita Lacerda, CEO of Bet7k said: “Bet7k stated that it is interested in acquiring the license to operate in Brazil and that it will adapt to the new standards imposed by the federal government. Not being on the first list does not denote the bets’ intention to have the license .
From the beginning, we have followed all current regulations, compliance rules and legal standards. We are focused on organizing ourselves structurally and internally for the new legislation. We continue with the work and await the next steps to obtain the license.”
