Bookmakers and online games will have until the end of this year to regularize themselves in Brazil. They must pay R$30 million to the Union to obtain authorization for commercial exploration and not remain in an illegal situation from January 1, 2025.
This is because the ordinance was published in the Official Gazette of the Union at the end of May.
To obtain authorization, bets, as these companies are called, will have to meet criteria related to five categories: legal qualification, tax and labor regularity, suitability, economic-financial qualification and technical qualification.
Since the publication of the ordinance, companies can provide legal documentation and register with the Betting Management System (Sigap).
Furthermore, those who obtain authorization and pay the concession of R$30 million will be able to operate up to three commercial brands in the national territory for five years.
According to the Ministry of Finance, the criteria were established to provide more protection to bettors and ensure that authorized companies have a corporate governance structure “compatible with the complexity, specificity and risks of the business”.
In other words, unauthorized bets will be subject to penalties from January 1st.
Prizes and Betting Secretariat has 180 days to analyze requests from bookmakers
According to the ordinance, the Prizes and Betting Secretariat of the Ministry of Finance has 180 days to analyze bet requests.
As a transitional rule, companies that request authorization by August 20, 90 days after the publication of the ordinance, will receive a response later this year.
Therefore, all companies authorized in this first group will have authorization ordinances published jointly. In addition to proving high economic and financial capacity, bets must comply with other measures:
- Have headquarters and service channel for bettors in Brazil,
- Comply with policies to prevent money laundering and terrorist financing, Promote responsible gaming,
- Guarantee the integrity of bets,
- Prevent manipulation of results,
- Adopt good advertising and advertising practices.
