The future of sports betting in Brazil is about to be defined. The Prizes and Betting Secretariat (SPA), linked to the Ministry of Finance, plans to establish the main parameters for sports betting in the country by July this year.
Therefore, the schedule published in the Official Gazette of the Union last Wednesday (10) foresees four phases of work, in addition to priority initiatives.
Finance divides schedule for the sports betting sector into 4 stages
Fixed odds bets, where the bettor tries to predict a match result or a numerical series, will be regulated in both physical and virtual activities.
In this way, the regulatory policy aims to guarantee the legal security of the sports betting sector, in addition to promoting a stable, transparent and sustainable environment.
Phase 01 – until April 2024 In this phase, requirements will be established to certify the operational capacity of entities certifying sports betting systems. Thus, the general rules for payment methods used by companies and the technical and security requirements for betting systems used by operating agents will be defined. In addition, rules will be established to obtain authorization to operate fixed-odd sports betting throughout the national territory.
Phase 02 – until May 2024. In this phase, a policy will be created to prevent and combat Money Laundering, the Financing of Terrorism, the Proliferation of weapons of mass destruction and other frauds related to the commercial exploitation of sports betting. Therefore, a set of rules will be defined to be observed by authorized operators to comply with legal provisions and guarantee the rights of bettors.
The objective is to create a safer and more transparent environment
Phase 03 – until June 2024. In this phase, the technical and security requirements for online games will be established. In other words, these requirements will be made available to bettors by authorized operating agents. The rules and procedures for monitoring and supervising the commercial exploitation of the fixed-odd lottery betting modality will also be defined. Therefore, the procedure for applying administrative sanctions in the commercial exploitation of the fixed-odd lottery betting modality will be available.
Phase 04 – until July 2024. In this phase, the promotion of responsible gaming will be regulated. Measures, guidelines and practices to be adopted to prevent pathological gambling disorder in the context of fixed-odd betting will be disclosed. Rules will also be established for monitoring and preventing bettor debt and complementing the responsible advertising rules. In addition, the procedures for making transfers to the legal recipients set out in §1-A will be defined.
Therefore, with these measures, the Federal Government hopes to create a safe and transparent environment for sports betting in Brazil. The objective is always to benefit bettors and companies in the sector.
