This ordinance is part of a set of regulations aimed at disciplining the activity of fixed-odds betting operators in the national territory, with the goal of providing greater security to Brazilian citizens engaging in sports betting or online gaming.
The regulation governs the entire flow of money in bets authorized by the Ministry of Finance, from the moment citizens transfer funds to place bets to the payout of potential prizes.
It is established that bettors may transfer funds to place bets via PIX, TED, debit cards, or prepaid cards, provided that the funds come from their registered account with the betting house. Cash contributions, payments with tickets, cryptocurrencies, or any other alternative deposit method that complicates the identification of the origin of funds will not be accepted. Credit cards or any other subsequent payment instrument will also not be accepted as a precautionary measure to discourage indebtedness of Brazilian families.
Another noteworthy aspect of the Regulatory Ordinance is that it sets a 120-minute maximum deadline for authorized betting houses to pay owed prizes to bettors, counted from the closing of the actual sporting event or a session of the virtual gaming event subject to bets.
The regulation also establishes rules to ensure the segregation of bettors' funds and betting operators, and requires authorized betting operators to establish a financial reserve as a preventive measure for cases of insolvency or illiquidity.
In summary, by regulating the flow of money, Regulatory Ordinance SPA/MF takes an important step in combating money laundering and other crimes related to the betting market in Brazil, and significantly contributes to greater financial diligence by betting houses in managing bettors' resources.
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