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The Finance Ministry announced new rules for sports betting platforms, mandating corporate offices in Brazil by December 31, 2024. Platforms must establish customer service channels in Brazil and implement anti-money laundering policies.
Currently operating outside Brazil, platforms must adhere to the new guidelines, despite sponsoring Brazilian football teams and advertising on national TV. Each operator needs to pay a license fee of BRL 30 million (USD 5.8 million) to run up to three brands for five years.
According to the ministry’s statement, companies that registered for licenses in October 2023 will receive priority. Additionally, those submitting requests within the next 90 days are assured of prompt evaluation, with the ministry aiming to issue the first licenses by year-end.
Brazil’s journey toward regulated sports betting began in 2018 when the Michel Temer administration authorized it as a form of lottery. However, regulation remained pending, creating uncertainty. In late 2023, Congress passed legislation to establish clearer rules.
An exclusive report by The Brazilian Report in August 2023 revealed how the Luiz Inácio Lula da Silva administration initially hesitated to tax all sports betting winnings, yielding to platform pressure. Subsequently, the president reversed his stance, signaling a shift toward tighter regulations.