Pay4Fun's X-Ray report detailing payment law in Brazil

The Payment Ordinance published by the Secretariat of Prizes and Bets of the Ministry of Finance aims to combat money laundering and ensure the security of transactions in the betting market, as well as increase transparency in financial transactions in the sector.

According to Leonardo Baptista, CEO and co-founder of Pay4Fun, the measure aims to ensure responsible gaming. "You don't bet money you don't have expecting to have results to pay on your credit card. We consider the federal government's measure to encourage responsible gaming and prevent ludopathy very important and necessary," says the executive.

Pay4Fun is one of the leading payment platforms for online betting in Brazil prepared to comply with the new rules. The company already offers its customers the option of payment by electronic transfer, authorized by the Central Bank of Brazil, with the most diligent practices in the market. The entry into force of the Ordinance also serves as a warning to betting payment companies.

"Questionable practices and loopholes in the legislation that were once common will no longer be tolerated. Companies wishing to continue operating in the Brazilian market will have to adapt to the new rules and invest in robust payment solutions. Non-compliance with the rules will result in severe sanctions, including suspension or even revocation of the license to operate," says Camila Caresi, director of governance, risks, and compliance at Pay4Fun.

To understand all the details of the payment ordinance in betting, access Pay4Fun's "X-Ray" available in Portuguese and English.

Check out the main changes for Bets in Brazil regarding payments:

Separate accounts for greater protection

Betting houses will also have to have separate transactional accounts in financial institutions authorized by the Central Bank of Brazil. This measure aims to ensure that bettors' money is safe and protected.

Prizes paid within 2 hours

Winning bettors will receive their prizes within 120 minutes after the end of the event. If the betting house does not have enough money to pay the prizes, it must use money from its proprietary account.

Betting houses with more responsibility

Betting houses will not be able to offer bonuses or advantages to encourage betting, nor have agreements with financial institutions to offer credit to bettors. Betting advertising must also be responsible and not encourage gambling addiction.

For payment institutions that are prepared for the new requirements, the Ordinance opens up a world of opportunities. The online betting market in Brazil is still growing, and the greater security and transparency provided by the Ordinance can be a decisive factor in further boosting the sector. To understand all the details of the payment ordinance in betting, access Pay4Fun's "X-Ray" available in Portuguese and English.