iGaming News #001: check out a timeline of the Brazilian sector's regulation
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Cross border Payments Solutions | Authorized Payment Institution by the Central Bank of Brazil
To mark this debut edition on LinkedIn, we’ve compiled all the key information and regulations about this ecosystem. Here, you'll find a comprehensive summary of everything that has been announced about the regulation of the iGaming sector in Brazil.
Regulation and Legislation of Betting in Brazil
Did you know that betting in Brazil has been legalized since 2018? Yes, Law No. 13.756/2018 legalized sports betting. However, although this modality was decriminalized at that time, there was no specific regulation or regulatory body.
In 2023, Bill No. 3.626/2023 was approved and converted into Law 14.790/2023, which provides for the lottery modality known as fixed-odds betting. Since then, new ordinances have been published throughout this year to complement the law.
As with all newly regulated environments, the required complexity is also reflected in this ecosystem, and we have been closely following the new norms that are still being published. Besides bringing all the announcements, our newsletter also includes a regulatory agenda for the sector, which you can follow at the end of each edition.
Here is a timeline of all the norms that have already been published and a brief summary of each:
?? 2023: Portaria Normativa MF No. 1.330 - Ministry of Finance
Contains the general rules for exploiting the activity, immediate enforcement norms for bettor protection, responsible gambling measures, and minimum advertising rules for betting.
?? 31/01/2024: Decree 11.907/2024 - Ministry of Finance
Updates and improves the MF structure, establishing the new Secretariat of Prizes and Betting (SPA).
?? 23/02/2024: Portaria No. 300/2024 MF/SPA
Establishes the requirements for certifying entities for betting and online gaming platforms. The already certified entities can be consulted on the Secretariat of Prizes and Betting website.
?? 18/04/2024: Portaria SPA/MF No. 615 MF/SPA - Payment Methods
Establishes general rules for payment transactions in the operation of fixed-odds lottery betting.
?? 03/05/2024: Portaria No. 722, of May 2, 2024 MF/SPA
Establishes general rules for the operation of betting systems and the provision of data to Sigap in the operation of fixed-odds lottery betting.
?? 21/05/2024: Portaria SPA/MF No. 827, of May 21, 2024 MF/SPA
Defines rules for the federal license application.
?? 28/05/2024: Interministerial Portaria MF/MESP/AGU No. 028, May 22, 2024 Ministry of Finance
Establishes the responsibilities and procedures of the Ministry of Finance, the Ministry of Sports, and the Attorney General's Office regarding the exploitation of fixed-odds betting in the national territory.
Do not miss out on the upcoming ordinances that are in the pipeline:
领英推荐
Regulatory Agenda of the Ministry of Finance
Phase I - publication until April 2024:
Phase II - publication until May 2024:
?? Money Laundering and Other Offenses Ordinance - awaiting publication
?? Rights and Obligations Ordinance - awaiting publication
Phase III - publication until June 2024:
?? Online Gaming Ordinance
?? Supervision Ordinance
?? Sanctioning Action Ordinance
Phase IV - publication until July 2024:
We hope this information is helpful and that LinkedIn may offers an even richer and more accessible experience for everyone.
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