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📢 Important Update: Brazil BETS Regulations
Incident
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Identified
Brazilian law 14.790/2023 has officially regulated the operation of fixed-odds betting, commonly known as BETS.
Key Points:
Authorization Requirement:
All fixed-odds betting companies that have not yet requested authorization from the Ministry of Finance (MF) must suspend operations nationwide starting October 1, 2024, until they receive permission from the Ministry's Secretariat of Prizes and Betting (SPA).
Temporary Operating Period:
From October 2024 to the end of December 2024, only betting companies that have already applied for authorization to engage in fixed-odds betting may continue to operate. Companies that have not applied will be classified as illegal until they secure authorization.
Final Deadline:
The deadline for obtaining full authorization is December 31, 2024. After that, companies that have not received approval will be unable to operate legally.
Starting January 2025:
Only companies that fully comply with Law No. 13,756/2018, Law No. 14,790/2023, and all relevant regulatory ordinances will be allowed to operate. Approved companies will also need to pay a R$30 million fee and comply with regulations related to fraud prevention, anti-money laundering, and advertising restrictions.
SMS Traffic Impact:
Betting companies will require government authorization to send SMS traffic. Unauthorized companies will not be allowed to transmit SMS messages.
Timeline:
October 1, 2024:
Only betting companies that have applied for authorization can continue operations. All others will be classified as illegal.
By December 2024:
The Ministry of Finance is expected to complete the review of initial authorization requests.
January 1, 2025:
The regulated betting market in Brazil officially begins. Only fully authorized companies can operate under the new regulations.
For more information, please ensure compliance with Law No. 14,790/2023, and stay updated with the Ministry of Finance’s guidelines.
Key Points:
Authorization Requirement:
All fixed-odds betting companies that have not yet requested authorization from the Ministry of Finance (MF) must suspend operations nationwide starting October 1, 2024, until they receive permission from the Ministry's Secretariat of Prizes and Betting (SPA).
Temporary Operating Period:
From October 2024 to the end of December 2024, only betting companies that have already applied for authorization to engage in fixed-odds betting may continue to operate. Companies that have not applied will be classified as illegal until they secure authorization.
Final Deadline:
The deadline for obtaining full authorization is December 31, 2024. After that, companies that have not received approval will be unable to operate legally.
Starting January 2025:
Only companies that fully comply with Law No. 13,756/2018, Law No. 14,790/2023, and all relevant regulatory ordinances will be allowed to operate. Approved companies will also need to pay a R$30 million fee and comply with regulations related to fraud prevention, anti-money laundering, and advertising restrictions.
SMS Traffic Impact:
Betting companies will require government authorization to send SMS traffic. Unauthorized companies will not be allowed to transmit SMS messages.
Timeline:
October 1, 2024:
Only betting companies that have applied for authorization can continue operations. All others will be classified as illegal.
By December 2024:
The Ministry of Finance is expected to complete the review of initial authorization requests.
January 1, 2025:
The regulated betting market in Brazil officially begins. Only fully authorized companies can operate under the new regulations.
For more information, please ensure compliance with Law No. 14,790/2023, and stay updated with the Ministry of Finance’s guidelines.
This incident affects: Regulatory Updates.