The Brazilian government announced today that fixed-odds betting companies can be held accountable for abusive or even misleading advertising carried out by influencers they hire on social media.
This is one of the rules established by Ordinance SPA/MF No. 1,231/2024 on Responsible Gaming, Rights and Duties, published by the Secretariat of Prizes and Bets of the Ministry of Finance (SPA-MF) in the Official Gazette on Thursday (July 31).
The regulatory instrument includes other advertising rules, including the prohibition for unauthorized companies to advertise or sponsor sports, and sets guidelines to prevent and address gambling-related disorders and protect the mental and financial health of players. The goal is to ensure a healthy consumer relationship between bettors and fixed-odds betting operators authorized by the federal government.
To protect themselves, bettors can set limits on connection time and bet amounts, suspend their account, and even self-exclude with or without a time limit. Operators must monitor bettors' behavior and alert them if they observe problematic behavior.
According to Régis Dudena, Secretary of Prizes and Bets of the MF, the responsible gaming ordinance imposes strict monitoring and protection obligations on betting companies, preventing over-indebtedness and other problems related to gambling addiction.
“Betting companies must be transparent in their relationships with influencers, ensuring that all promotions are responsible and honest. We have established clear advertising restrictions, prohibiting ads suggesting that betting is an easy way to get rich. Any misleading advertising can result in severe penalties for betting companies,” explained Dudena.
The Ordinance also regulates three common practices in sports betting: incentives, cash out, and betting exchange. In the first case, according to Law 14,790, welcome bonuses are prohibited, but actions that promote bettor loyalty are allowed.
In the case of early withdrawal, the rules are mainly aimed at ensuring transparency, and for the betting exchange, combating money laundering attempts. To combat this crime, measures have also been established to identify bettors, including the use of facial recognition in several operations, such as registration and record changes. Operators can also require proof of income.
The MF will maintain a list of authorized fixed-odds betting companies on its website, along with the addresses of their respective sites. All authorized company websites must end with the extension “.bet.br”
https://www.in.gov.br/en/web/dou/-/portaria-spa/mf-n-1.231-de-31-de-julho-de-2024-575670297
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