Key deadline for bookmakers' compliance in Brazil

Legislation

Friday 24 de May 2024 / 12:00

bnldata.com.br

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(Brasilia).- The National Association of Gaming and Lotteries (ANJL) considers that the Ordinance 827 of the Secretariat of Prizes and Bets (SPA) of the Ministry of Finance meets the expectations of the market, allowing time for adaptation. The deadline for bookmakers to adapt to the legislation is 31 December.

Key deadline for bookmakers' compliance in Brazil

The ordinance states that all bookmakers operating in Brazil after 1 January 2025 without authorisation from the SPA, and therefore in an irregular market, will be subject to sanctions. The association stresses that from then on all bettors will be able to distinguish between serious companies, which operate transparently and legally, and irregular ones.

“This was the most eagerly awaited ordinance for gamblers because it regulates a number of important rules concerning not only the authorisation, but also the operation of each betting shop. These include, for example, the documentation required, the minimum financial requirements to be met and the number of licences for a certain number of brands linked to the same economic group,” says ANJL president Plínio Lemos Jorge.

“From the player's point of view, as the regulation process will be in place for all operators by the end of this year, from next year they will know that they are playing on a safe and reliable platform, with the guarantee that they will receive their winnings if they get their bets right,” adds the president.

The ANJL points out that there are also other ordinances planned in the process of regulating the sector in Brazil, which are expected to be published by the end of July, according to the regulatory agenda published by the Secretariat of Prizes and Gambling (SPA).

Categoría:Legislation

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País: Brazil

Región: South America