Brazil has opened its online gambling market following President Luiz Inácio Lula da Silva’s legalization of sports betting.
This development implements a provisional measure (PM) from the 2018 law.
On October 27, Brazil’s Ministry of Finance issued Ordinance No. 1330, setting strict requirements for aspiring operators.
As per the ordinance, operators must declare their intentions to enter the Brazilian online gambling market within 30 days.
This rule aims to quicken the government’s approval process. The ordinance also mandates operators to establish “special service centers” for customer support.
The legal text, according to SBC Noticias, includes specific prohibitions.
It bars concessions to companies linked with professional athletes, referees, or directors of national sports teams.
Companies without a Brazilian presence are also excluded. Maintaining industry integrity is crucial.
Applicants must adhere to legal and ethical standards and report any irregular transactions to the Council for the Control of Financial Activities (COAF).
Another key requirement is promoting safer gambling. Operators need to combat customer indebtedness and gambling addiction effectively.
They must also restrict access for individuals under 18 years old and demonstrate protective measures for users.
Operators are obliged to offer tools for loss limits, self-exclusion, playtime restrictions, and break periods.
Additionally, third-party payment methods for customer transactions are prohibited. The ordinance places a strong emphasis on responsible advertising.
Operators must follow guidelines to avoid misleading communications and advocate responsible betting practices.
Effective immediately upon publication, these regulations address the prevalence of online betting among Brazilians.
The government’s initiative reflects a commitment to regulate and ensure responsible practices in the burgeoning online gambling sector.