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New laws have been published in Brazil’s Official Diary of the Union by the Prizes and Betting Secretariat (SPA) and the Ministry of Finance in collaboration with the Regulatory Policy. The April 18 publication of Normative Ordinance No 615 marks a significant turning point in the development of the nation’s online gaming and sports betting market.
This statement is in keeping with the first stage of a thorough regulatory rollout that the Ministry of Finance has described. The first step is the execution of Bill 3,626 (also known as Law 14,790), which was approved by President Luiz Inacio Lula da Silva in December 2023. This phase, which is slated to last until the end of April, is all about publishing the technical, security, and payment requirements.
The newly introduced regulations impose several obligations on both bettors and operators in Brazil’s online gaming and sports betting sector. Notably, payments via credit cards, cryptocurrency, cash, payment slips, or checks are strictly prohibited. Bets, withdrawals, and payouts are permitted exclusively through electronic transfers between authorized accounts registered with the Central Bank of Brazil.
Operators are mandated to provide players with virtual accounts, offering insights into their betting habits over the past 36 months. This initiative aims to empower players to manage their financial and betting activities effectively. Virtual accounts will feature detailed betting histories, open bet values, and financial balances, with operators prohibited from granting remuneration on player-owned accounts.
Apart from player-focused projects, operators have to properly handle liquidity concerns. This entails setting up a minimum R$5 million financial reserve invested in federal public bonds at a financial institution recognized by the Central Bank of Brazil. To ensure both financial stability and regulatory compliance, the reserve has to be kept apart from other private accounts.
The new laws, which go into effect right now, highlight Brazil’s dedication to creating an open, accountable, and sustainable online gaming ecosystem. These steps clear the path for a robust and well-regulated online gaming industry in Brazil by placing a high priority on player protection and regulatory compliance.