Legislation

Brazil bans sports betting payment methods

Friday 19 de April 2024 / 12:00

dobleamarilla.com.ar

⏱ 1 min read

(Brasilia).- The Brazilian government has banned certain payment methods on official and alternative sports betting sites in order to provide greater security to players and "prevent them from getting into debt", according to the Official Gazette.

Brazil bans sports betting payment methods

As of the new regulation, players can transfer money to place their bets, as long as it is from their bank accounts, debit cards or prepaid cards. To do so, they must have their account registered in the system. The measure was adopted by the Ministry of Finance, seeking to alleviate the growing debts and regulate the applications.

From now on, bettors will not be able to pay by credit card, cash or cryptocurrencies, as part of a package of measures taken by the Ministry of Finance. They will be able to do so with money from their bank accounts, debit cards or prepaid cards that have an account registered in the system.

The idea is to start regulating the activities of websites and apps that have a fixed fee, where gamblers try to anticipate the outcome of sporting events.

"Financial contributions will not be accepted through cash, payment vouchers, crypto-assets or any other alternative form of deposit that may make it difficult to identify the origin of the resources," the ministry's statement explains.

At the same time, the Treasury obliges the sites to pay the prizes within a maximum of two hours after the end of the events. In addition, they will have to have a financial reserve of 5 million reais, not counting the proceeds from bets.

Categoría:Legislation

Tags: Sin tags

País: Brazil

Región: South America

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