Brazil’s Ministry of Finance has outlined the regulations and requirements for sports betting operators in the country through Decree 1330, published in the Official Gazette. This decree not only specifies the rights of bettors but also establishes essential criteria for operators seeking to provide sports betting services in Brazil. Operators have a 30-day window to register their interest and must meet various legal, financial, and operational qualifications.
Operator Registration Period:
Brazil has granted operators a 30-day window to express their interest in providing sports betting services in the country. This registration process is vital for companies aspiring to operate in the Brazilian sports betting market.
Documented Qualifications:
To register, operators are required to submit a comprehensive set of documents demonstrating their legal qualification, fiscal regularity, labor compliance, economic-financial qualification, and technical competence. This documentation ensures that operators meet essential criteria.
Competitive Environment:
Decree 1330 emphasizes that the operation of sports betting must occur in a competitive environment. Operators are free to market their services through various distribution channels, including both physical and online platforms.
Local Presence for Foreign Companies:
Foreign companies aiming to provide sports betting in Brazil must establish a subsidiary in the country. Furthermore, they must provide proof of their company’s incorporation in Brazil as part of the license authorization process.
Technical and Operational Compliance:
Sports betting platforms must meet specific technical and operational requirements. These platforms need to be certified by a laboratory recognized by the Ministry of Finance to ensure fairness and integrity.
Customer Service and Language:
Companies operating in Brazil must offer customer services in Portuguese, the country’s official language. This ensures that bettors can access assistance and support in their native language. Moreover, operators must provide customer service around the clock, year-round, at no cost to users.
Anti-Terrorism and Anti-Money Laundering Measures:
Companies applying for sports betting licenses must have designated individuals responsible for key areas, including accounting, data security, ombudsman services, operational security of the betting system, and integrity and compliance oversight. These measures aim to prevent anti-terrorism and money laundering activities in the industry.
Brazil’s Ministry of Finance has laid out clear guidelines and requirements for operators looking to provide sports betting services in the country. With a strong emphasis on qualifications, compliance, and consumer protection, these regulations aim to establish a transparent and competitive sports betting environment in Brazil. Operators have a limited timeframe to meet the necessary criteria and express their interest in participating in this evolving market.