Brazil bans sports betting payment methods
Friday 19 de April 2024 / 12:00
⏱ 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.
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
Event
SBC Summit Americas 2026
09 de June 2026
Belatra Games Highlights Networking Value at SBC Summit Americas 2026
(Fort Lauderdale, SoloAzar Exclusive).- Lucila M. Barletta, Head of Accounts LatAm at Belatra Games, shared her insights on the company’s participation at SBC Summit Americas. From strengthening partnerships to exploring new opportunities, she emphasized the importance of both large industry events and smaller networking experiences in driving meaningful business growth.
Friday 03 Jul 2026 / 12:00
Zenith Strengthens LATAM Presence at SBC Summit Americas
(Fort Lauderdale, SoloAzar Exclusive).- In conversation with SoloAzar, Eddie Morales, Zenith's Business Development Manager, shared the company’s objectives at SBC Summit Americas, the opportunities generated, and the outlook on the future of the gaming industry in Latin America.
Friday 03 Jul 2026 / 12:00
LSports LATAM Secures Major Partnerships at SBC Summit Americas 2026
(Fort Lauderdale, SoloAzar Exclusive).- In Q&A after SBC Summit Americas 2026, Fernando Martinez, representative of LSports LATAM, talked about the company’s goals, achievements, and future plans in the region. Martinez shares insights on the evolving dynamics of the Latin American market, the importance of strategic partnerships, and how LSports is positioning itself as a leading data and trading services provider.
Wednesday 01 Jul 2026 / 12:00
SUSCRIBIRSE
Para suscribirse a nuestro newsletter, complete sus datos
Reciba todo el contenido más reciente en su correo electrónico varias veces al mes.
