Starting this Friday, October 11, unauthorized betting platforms in Brazil will be subjected to nationwide blocking. The Secretariat of Prizes and Betting (SPA) under the Ministry of Finance (MF) has compiled a list of non-compliant betting companies, which has been forwarded to the National Telecommunications Agency (Anatel). Anatel has already notified telecommunications companies to initiate the blocking of these unauthorized domains. This means that only the betting platforms included on the Ministry of Finance’s authorized list will be permitted to operate legally in Brazil until December. Brazil iGaming Regulation
To ensure compliance with these new regulations, the SPA conducted a thorough review and identified 2,040 suspicious domains, which were subsequently sent to Anatel for action. From this extensive review, only 96 companies, which represent a total of 210 betting options, have been deemed eligible to continue their operations until the end of this year. Looking ahead to January 2025, eligible bookmakers must pay a R$30 million grant to be able to operate within Brazil’s regulated betting market. Brazil iGaming Regulation
Compliance with strict regulations aimed at preventing fraud, money laundering, and abusive advertising practices will also be mandatory. This initiative is designed to ensure transparency and safeguard the integrity of the betting industry and the interests of bettors themselves.
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Finance Minister Fernando Haddad has stated that those non-compliant with the new regulations will be taken offline starting this Friday. Companies wishing to continue their operations must submit the necessary documentation within the next 150 days to be considered for approval. The Ministry of Finance’s action is a crucial step toward ensuring that Brazilian bettors engage only with regulated and lawful betting platforms. Dario Durigan, Executive Secretary of the Ministry, emphasizes that this move is the first significant measure aimed at protecting the integrity of Brazil’s betting industry. By eliminating unauthorized platforms, Brazil strives to shield its citizens and economy from fraudulent and illegal practices.
Carlos Baigorri, the president of Anatel, highlighted the importance of public cooperation in the fight against illegal betting platforms. Operating within a regulated environment guarantees bettors their rights and protection, while unregulated markets pose significant risks akin to smuggling and counterfeit goods.
As of Friday, unauthorized betting sites will be blocked, and only companies on the Ministry of Finance’s approved list will be allowed to operate legally. A R$30 million grant must be paid by January 1, 2025, for companies to function in the new regulated environment. Bettors are encouraged to choose regulated platforms to ensure their financial and mental well-being. Brazil iGaming Regulation
