Normative Ordinance SPA/MF No. 615, dated April 16, 2024, establishes a new regulatory framework for payment transactions carried out by agents authorized to operate the fixed-odd sports betting lottery modality in the national territory.
This ordinance, published in the Official Gazette of the Union, aims to ensure compliance with general rules in these payment methods, providing greater security and transparency for everyone involved.
Simone Vicentini signs normative ordinance
The preparation and implementation of this ordinance were led by the Deputy Secretary of Prizes and Bets of the Ministry of Treasury, Simone Vicentini. The ordinance followed in accordance with the attributions conferred by item I of art. 55 of Annex I of Decree No. 11,907, of January 30, 2024.
Furthermore, the ordinance was based on the provisions of Law No. 13,756, of December 12, 2018, and Law No. 14,790, of December 29, 2023, ensuring its compliance with current legislation.
Check out the full ordinance below:
THE SECRETARY OF PRIZES AND BETS SUBSTITUTES THE MINISTRY OF FINANCE, in the use of the powers conferred on it by item I of art. 55 of Annex I of Decree No. 11,907, of January 30, 2024, and in view of the provisions of Law No. 13,756, of December 12, 2018, and Law No. 14,790, of December 29, 2023, resolves:
CHAPTER I
PRELIMINARY PROVISIONS
Art. 1 This Ordinance establishes general rules to be observed in payment transactions carried out by agents authorized to operate the fixed-odd betting lottery in the national territory, in virtual or physical modalities, under the terms of Law No. 13,756, of December 12, 2018, and Law No. 14,790, of December 29, 2023.
Art. 2 For the purposes of this Ordinance, it is considered:
I – open bet: bet relating to a real sports-themed event or a virtual online gaming event that has not yet been financially settled by the operating agent;
II – registered account: prepaid deposit or payment account, owned by the bettor, maintained in a financial or payment institution authorized to operate by the Central Bank of Brazil, used as the origin of financial contributions and as the destination of prizes received and withdrawals of financial resources made by bettors with the operating agent;
III – graphic account: virtual account, made available by the operating agent in its betting system, which allows each bettor to manage their bets and financial resources;
IV – proprietary account: prepaid deposit or payment account, owned and freely operated by the operating agent, maintained in a financial or payment institution authorized to operate by the Central Bank of Brazil, used to cover operational expenses and liquidity management ;
V – transactional account: prepaid deposit or payment account, owned by the operating agent, maintained in a financial or payment institution authorized to operate by the Central Bank of Brazil, used as a destination for financial contributions made by bettors, to maintain the values relating to open bets or, at the bettor’s option, to maintain the prizes received; It is
VI – online gaming session: period between the start of the online game that is the subject of a bet and its closure, which is characterized by the bettor leaving the online game or by his inactivity in that game for two minutes or more.
CHAPTER II
PAYMENT TRANSACTIONS
SECTION I
CONTRIBUTIONS AND WITHDRAWALS OF FINANCIAL RESOURCES
Art. 3 The contributions and withdrawals of financial resources by bettors, as well as the payment of prizes by operating agents, must be carried out exclusively by means of electronic transfer between a registered account of the bettor and the transactional account of the operating agent, both kept in financial or payment institutions authorized to operate by the Central Bank of Brazil.
§ 1 Electronic transfer, for the purposes of this Ordinance, means resource transfer orders made through Instant Payment – PIX, Available Electronic Transfer – TED, debit or prepaid card, and transfer in the books themselves ( book transfer), in the case of accounts maintained at the same institution.
§ 2 The operating agent is prohibited from accepting financial contributions through:
I – cash;
II – payment slips;
III – checks;
IV – virtual assets or other types of cryptoassets;
V – payments or transfers from an account that has not been previously registered by the bettor;
VI – payments or transfers from third parties;
VII – credit cards or any other postpaid payment instruments; It is
VIII – any other electronic transfer alternative not provided for in §1 of this article.
§ 3º The action of institutions not authorized to operate by the Central Bank of Brazil as intermediaries in payment transactions between the bettor and the betting operator agent, including through collection agents or payment managers, is prohibited.
§ 4 The operating agent is prohibited from:
I – allow placing bets without prior settlement of the electronic transfer of financial contribution referred to in the caput of this article;
II – grant, in any form, an advance, advance, bonus or prior advantage, even if merely as a promotion, publicity or advertising, for placing bets;
III – enter into a partnership, agreement, contract or any other form of arrangement or business adjustment to enable or facilitate access to credit or commercial development operations by bettors; It is
IV – promote or allow access, through its physical establishment or electronic channels, to individuals or legal entities that grant credit or carry out commercial development operations for gamblers.
SECTION II
FROM THE TRANSACTIONAL ACCOUNT
Art. 4 It is exclusive to Brazilian institutions authorized to operate by the Central Bank of Brazil to offer transactional accounts held by the betting operating agent or financial services of any nature that allow bettors:
I – make contributions and withdrawals of financial resources to the betting operating agent; or
II – receive the prize amounts owed to them.
§ 1 The resources of bettors maintained in the transactional accounts referred to in this article:
I – constitute separate assets, which cannot be confused with that of the betting operating agent;
II – they are not directly or indirectly responsible for any obligation of the operating agent nor can they be subject to arrest, kidnapping, search and seizure or any other act of judicial constraint due to debts under the responsibility of the betting operating agent;
III – do not make up the assets of the betting operator, for the purposes of bankruptcy, judicial or extrajudicial recovery, intervention or judicial or extrajudicial liquidation; It is
IV – they cannot be given as guarantee for debts assumed by the betting operating agent.
§ 2 The use of different transactional accounts by the operating agent is permitted, including in different financial or payment institutions.
§ 3 The aggregate balance of the operating agent’s transactional accounts must be permanently equivalent to the sum of the available financial balances of all bettors, calculated in accordance with § 4 of this article, plus the aggregate balance of open bets referred to in § 5 of this article. article.
§ 4 The available financial balance of each bettor corresponds to the net balance of contributions paid and financial withdrawals made, plus the prizes received that are kept in the graphical account, in accordance with § 1 of the art. 7th of this Ordinance, and deducted from the value of bets placed.
§ 5 The aggregate balance of open bets is equivalent to the total value of bets placed by bettors, not available for new operations, which has not yet been financially settled by the operating agent.
§ 6 The operating agent is prohibited from maintaining resources belonging to him in the transactional accounts referred to in the caput.
§ 7 The operating agent is prohibited from using bettors’ resources held in transactional accounts, even temporarily, to cover prizes due or any other expenses for which the operating agent is responsible.
§ 8 The amounts registered as open bets when used to pay prizes related to the same event that is the subject of the bet are exempt from the prohibition contained in § 7 of this article.
Art. 5 At the discretion of the operating agent, the total or partial daily balance of the transactional accounts referred to in art. 4th maintained in financial institutions authorized to operate by the Central Bank of Brazil, including the amounts corresponding to open bets, determined at the close of the regular grid of operations of participants in the Reserve Transfer System – STR, may be applied to federal public securities, registered in the Special Settlement and Custody System – Selic.
§ 1 The investment in federal public securities referred to in the caput must be carried out through the financial institution that maintains the operating agent’s transactional account.
§ 2 The federal public securities referred to in the caput must:
I – be denominated in reais and purchased on the secondary market;
II – have a maximum period of five hundred and forty days until maturity; It is
III – not be referenced in foreign currency.
§ 3 The balance referred to in the caput of this article can also be applied to repo operations backed by federal public securities admitted to trading on the Selic, with daily liquidity, with the financial institution holding the transactional account of the betting operator.
§ 4 The application of the balance of transactional accounts to any types of investments not provided for in this article is prohibited.
§ 5 The sharing with bettors of gains arising from investment in federal public bonds or repo operations backed by federal public bonds is prohibited.
SECTION III
FROM THE GRAPHIC ACCOUNT
Art. 6 The operating agent will make available a graphical account in its betting system that allows each bettor to manage their operations and financial resources.
§ 1 The graphical account of each bettor will inform, at a minimum:
I – the history of the last thirty-six months of contributions and withdrawals of financial resources, the values of bets placed and prizes received;
II – the value of open bets; It is
III – the available financial balance referred to in § 4 of art. 4th of this Ordinance.
§ 2 The operating agent is prohibited from restricting the withdrawal of the bettors’ available financial balance, and the financial resources must be available in the bettor’s registered account within one hundred and twenty minutes after the withdrawal request.
§ 3 The operating agent is prohibited from promising or granting remuneration, in any form or reason, levied on the amounts maintained by bettors in their graphic accounts.
SECTION IV
PAYMENT OF PREMIUMS
Art. 7 Payment of prizes by the operating agent must be made exclusively by means of electronic transfer in favor of a previously registered bank or payment account held by the respective bettor, maintained in a financial or payment institution with headquarters and administration in the country, which is authorized to operate by the Central Bank of Brazil.
§ 1 At the option of the bettor, the prizes received may remain in the transactional account, with registration in the graphic account referred to in art. 6th, to use your credits in new bets, before the same operating agent, observing the provisions of § 3rd of art. 4th.
§ 2 After the end of the real sports-themed event or a session of the virtual online gaming event subject to betting, the operating agent will determine the value of the prizes due to the bettors and the value of their remuneration and will proceed with the financial settlement of the open bets.
§ 3 If the amounts of open bets collected on a given real sports-themed event are insufficient to pay the prizes owed to bettors, or whenever there is a bet with a prize to be received after an online gaming session, the operating agent will transfer your proprietary account to the corresponding transactional account the amount necessary to supplement the payment of premiums.
§ 4 Prizes will be paid to winning bettors within a period of up to one hundred and twenty minutes, counting from the end of the real sports-themed event or the session of the virtual online gaming event that is the subject of the bets, by means of an electronic transfer between the account transactional and previously registered account of the bettor, observing the provisions of § 1 of this article.
§ 5 Once payment of the prizes due to winning bettors has been made, in the case of bets that have as their object real sports-themed events, the operating agent will transfer from the transactional account to the proprietary account held by him the amount relating to his remuneration, except in events in which the hypothesis provided for in § 3 of this article occurs.
§ 6 The transfer referred to in § 5 of this article will occur after the end of a session, in the case of a virtual online gaming event, if the operating agent is entitled to the remuneration.
§ 7º If the real sports-themed event or the virtual online gaming event is not held, which makes it impossible to determine the result of the bet, the amounts bet will be fully returned to the bettors through credit in the graphical account, under the balance heading available financial resources of the bettor referred to in § 4 of art. 4th of this Ordinance.
§ 8 The operating agent must keep documents available to the Prizes and Betting Secretariat of the Ministry of Finance that justify any failure to comply with the deadline established in § 4 of this article.
CHAPTER III
LIQUIDITY MANAGEMENT
Art. 8 Operating agents must implement policies for managing exposure to liquidity risks:
I – that establish, in an objective manner, a methodology for calculating exposure limits;
II – that provide processes to measure, monitor and mitigate exposure to liquidity risk in different time horizons, including intraday; It is
III – that contain a contingency plan detailing additional sources of resources, responsibilities and procedures to face liquidity stress situations.
§ 1 The exposure limits referred to in section I of the caput of this article will be proportional to the value of the operating agent’s net equity, contained in the last available balance sheet, without prejudice to other limits and prudential rules established by the operating agents.
§ 2 The operating agent must maintain sufficient resources in proprietary accounts to cover operational expenses and cover the exposure limits referred to in the caput of this article.
§ 3 Additional sources of resources referred to in section III of the caput are considered, in addition to the available balance of the operating agent’s proprietary accounts, any credit limits for working capital pre-approved with financial institutions authorized to operate by the Central Bank of Brazil and other liquid sources of resources that can be used by the operating agent in case of need.
§ 4 The management policy of the caput must be approved and reviewed, at least annually, by the administrators of the operating agent.
§ 5 Operating agents must keep documents available to the Prizes and Betting Secretariat of the Ministry of Finance that prove the adoption and implementation of the policy required in the caput.
Art. 9 The betting operator must establish a financial reserve, as a preventive measure in the event of insolvency or illiquidity, designed to guarantee the payment of prizes and other amounts owed to bettors, in the minimum value of R$ 5,000,000.00 ( five million reais).
§ 1 The financial reserve referred to in the caput must be held in custody in a financial institution authorized to operate by the Central Bank of Brazil in the form of federal public bonds, registered with Selic, observing the provisions of § 2 of the art. 5th of this Ordinance.
§ 2 The financial reserve must be kept separately from transactional accounts and other proprietary accounts held by the operating agent.
§ 3 The balance of the financial reserve may only be used by the operating agent when the other sources of resources provided for in the contingency plan referred to in item III of art. 8th of this Ordinance, upon prior authorization from the Prizes and Betting Secretariat of the Ministry of Finance.
§ 4 In case of use, the minimum balance of the financial reserve provided for in the caput of this article must be replenished by the betting operator within a period of up to two working days, counting from the date of authorization granted by the Prizes and Bets Secretariat of the Ministry of Finance .
§ 5 Specific regulation of the Prizes and Betting Secretariat of the Ministry of Finance will regulate the sanctions applicable to the operating agent in case of non-compliance with the provisions of §§ 3rd and 4th of this article.
§ 6 The federal public securities referred to in § 1 of this article must be linked to the specific deposit account for this purpose, and the contract signed with the institution must contain a prohibition on the use of resources:
a) as a guarantee for operations undertaken by the operating agent;
b) for purposes other than the payment of prizes and other amounts owed to bettors, except in the case provided for in § 7 of this article; It is
c) without prior authorization from the Prizes and Betting Secretariat of the Ministry of Finance.
§ 7 The annual partial redemption of amounts held in the financial reserve by the operating agent will be permitted, as long as it is limited to the real income produced by the federal public securities referred to in § 1 of this article.
§ 8 Alternatively, the balance of the financial reserve referred to in the caput can be applied to repo operations backed by federal public securities admitted to trading at Selic.
CHAPTER IV
FINAL DISPOSITIONS
Art. 10. Betting agents will observe, in addition to the provisions contained in this Ordinance, the tax rules applicable to the payment of prizes to bettors published by the Special Secretariat of the Federal Revenue of Brazil of the Ministry of Finance.
Art. 11. The service provision contracts signed between the betting operating agent and the institutions authorized to operate by the Central Bank of Brazil will establish the obligations of the parties to comply with the provisions of this Ordinance.
Art. 12. The prohibition provided for in art. 21 of Law No. 14,790, of 2023, comes into force after a period of six months has elapsed, counting from the date of publication of a specific regulation by the Secretariat of Prizes and Bets of the Ministry of Finance that establishes the rules and conditions for obtaining authorization to commercial exploitation of the lottery modality of fixed-odd betting by private economic agents in the national territory.
Art. 13. This Ordinance comes into force on the date of its publication.
SIMONE APARECIDA VICENTINI
