The Secretariat of Prizes and Betting (SPA) of the Ministry of Finance has received 113 applications for authorization from 108 betting companies wishing to operate in Brazil starting in January 2025.
Companies that obtain authorization will be required to pay 30 million reais to operate three brands for five years. In addition, they must comply with the requirements established by Law No. 14,790/2023, including:
- Having headquarters and administration within Brazilian territory;
- Having a Brazilian citizen as a partner holding at least 20% of the company’s share capital;
- Designating a director responsible for the relationship with the Ministry of Finance;
- Designating a director responsible for customer service and the ombudsman;
- Implementing internal policies, procedures, and controls to prevent money laundering, terrorism financing, and the proliferation of weapons of mass destruction;
- Implementing internal policies, procedures, and controls to ensure the integrity of betting and prevent match-fixing and other types of fraud;
- Promoting responsible gaming and preventing gambling disorders.
Brazil led the world in access to sports betting sites in 2022[1], and recent data indicates that Brazil was the 3rd highest consumer of betting globally in 2023[2].
[1] https://www.poder360.com.br/poder-sportsmkt/esportes/brasil-lidera-acessos-a-sites-de-apostas-esportivas-em-2022/, acessado em: 29/08/2024.
[2] https://www.poder360.com.br/poder-sportsmkt/esportes/brasil-lidera-acessos-a-sites-de-apostas-esportivas-em-2022/, acessado em: 29/08/2024.