The recent publication of Portaria SPA/MF nº 1.475/2024 has introduced a robust and demanding regulatory framework for the sports betting sector in Brazil. This detailed analysis aims to provide industry professionals with a comprehensive understanding of the new requirements and challenges.
Main Aspects of the New Regulations
Licensing:
Specific Requirements: documents and technical information required to apply for a licence are detailed, such as market studies, business plans and responsible gambling policies.
Rigorous evaluation: The evaluation process will be thorough, including analysis of the financial, technological and operational capacity of applicants.
Operators' obligations:
Responsible Gambling: Mandatory measures are put in place to prevent gambling addiction, such as deposit limits, self-exclusion and identity verification.
Data protection: Operators must ensure the security and confidentiality of users' personal data.
Prevention of money laundering: Mechanisms will be implemented to identify and report suspicious transactions.
Betting Integrity: Measures shall be put in place to prevent manipulation of results and ensure transparency of operations.
Technological Infrastructure:
Secure platforms: The technological systems used must meet high standards of security and reliability.
Integration with payment systems: Integration with secure and efficient payment systems will be required.
Oversight and Sanctions:
Continuous supervision: Regulatory authorities will carry out constant supervision of operators' activities.
Sanctions: Administrative and criminal sanctions are established for non-compliers, including fines, licence suspension and even licence revocation.
Implications for the Sector
Investment in technology: Companies will need to invest in state-of-the-art technology to comply with the new regulatory requirements.
Strengthening of teams: Specialised compliance, responsible gaming and information security teams will be required.
Adaptation of products and services: The products and services offered will need to adapt to the new regulations and the expectations of Brazilian consumers.
Growth opportunities: Despite the challenges, the regulation of the Brazilian market represents a great opportunity for companies that manage to adapt to the new conditions.
Next Steps
Industry professionals should closely follow regulatory developments and keep up to date on specific licensing requirements. Advice from legal and technical experts is essential to ensure compliance with all legal provisions.
https://www.in.gov.br/en/web/dou/-/portaria-spa/mf-n-1.475-de-16-de-setembro-de-2024-584820215
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