Since the beginning of the year, fixed-odds betting operators (bets) authorized to operate in Brazil by the Ministry of Finance's Secretariat for Prizes and Betting (SPA/MF) have had to comply with various requirements in order to operate. Consumers should therefore keep an eye out for news.
Among the changes that have come into force is that the operation of the sites must be carried out exclusively by "bet.br" domains - During a certain period, the "com.br" domains will still work, but without being able to offer bets. Another point is the need to have a head office and partners in Brazil, making it possible for the SPA/MF to monitor and ensure compliance with the regulations, should penalties be necessary.
Policies to prevent money laundering and terrorist financing, encourage responsible gambling and combat match-fixing are also among the new rules. Advertising campaigns will not be able to encourage excessive betting and must include warnings about risks and age restrictions, as well as significant restrictions for people at risk of addiction, such as individuals diagnosed with gambling-related disorders (ludopathy).
Here's a look at the trends and impacts for both betting operators and bettors in the new year.
1) Transaction process and account types
According to Thiago do Amaral Santos, a specialist in means of payment, the new legislation requires that only financial and payment institutions authorized by the Central Bank can process transactions, which will facilitate the monitoring of bets, with the possibility of identifying fraud and adopting measures to prevent money laundering.
Operators will have three types of accounts: (i) transactional, used exclusively for deposits and withdrawals by players, linked to each contracted institution; (ii) proprietary, for the company's financial management; and (iii) reserve, with a mandatory R$5 million in government bonds, intended to guarantee the payment of bets in the event of insolvency or lack of liquidity (opened exclusively at a financial institution).
2) Account balances and payment restrictions
The balance of the transactional accounts must correspond to the amount owed to users. Surpluses can be transferred to the proprietary account. "If the balance is insufficient, the bookmaker must transfer funds from the proprietary account to the transactional account," explains Amaral.
There will be restrictions on payment methods, with only Pix, TED and debit and prepaid cards allowed, and the use of credit cards, bank slips, cash, checks and cryptocurrencies is prohibited. Transfers from third-party accounts or those that have not been previously registered on the platform (website or app) by the punter themselves are also prohibited.
"This implies a restriction on the use of Pix. For example, if an institution receives funds from an unregistered account, even if it is owned by the punter, the betting operator must immediately refund the funds to that account," explains the lawyer. "With regard to prohibiting the use of other means of payment, the aim is to adopt measures to curb fraud and other illegal acts, including money laundering."
3) A ban on lending and greater security for punters
From 2025, companies will no longer be able to offer credit for bets and entry bonuses. "This avoids problems with excessive betting and over-indebtedness. Operators are also prohibited from entering into any kind of agreement to facilitate access to credit for gamblers," adds Amaral.
The bets must be paid out within 120 minutes, and the bettor can choose, at his sole discretion, to keep the funds in his account for placing new bets and the bettor will have access to the history of payment transactions made over the last 36 months.