Sports Betting Operators in Brazil have A month to Express their Interest

This Friday, October 27, the Ministry of Finance released Decree 1330/2023 in the Official Gazette, outlining the fundamental terms under which sports betting will be permitted in Brazil Interest

It specifies that a preliminary statement of interest must be submitted within 30 days by anyone wishing to apply for a license. Sports Betting Brazil Operators

The paper lays out guidelines for advertising, responsible gaming, and requirements that the company should adhere to when beginning operations in Brazil.

Guidelines:

Sports betting will operate in a competitive environment with no restrictions on concessions and marketing opportunities via all available channels, including virtual and physical ones.

The company must provide documentation of its legal qualification, fiscal and labor regularity, economic and financial qualification, and technical qualification in advance of requesting authorization to operate sports betting.

Before applying for a concession, foreign companies must first register a subsidiary in Brazil in order to be eligible to operate sports betting there. Documentation of the company’s formation will also be needed.

Organizations should have a corporate governance structure appropriate for the risks, complexity, and distinctiveness of the business. It also necessitates the existence of a customer care center for bettors in Brazil that is open 24 hours a day, 7 days a week, and provides assistance in Portuguese via free phone and electronic channels.

Businesses must incorporate national or international organizations for sports integrity monitoring and put integrity procedures in place when placing bets. They also need to put laws into place to stop the spread of weapons of mass destruction, money laundering, terrorism financing, and match-fixing.

Companies may not include directors, controlling shareholders, or other people with direct or indirect ownership interests in a Public Limited Football Company or professional sports organization among their partners.

Cash, credit cards, bank slips, and deposits from third parties into the bettor’s account will not be accepted in order to place bets.

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Internal control methods and mechanisms that enable bettors to set daily limitations on playing time, maximum losses, pause periods, and self-exclusion must be in place at the operator.

The betting establishments’ marketing, promotion, and communication strategies must uphold social responsibility and the advancement of responsible gambling. The age restriction symbol “18+” or the phrase “prohibited for those under the age of 18” must be used in all advertisements. They should not make false statements about the possibility of winning or the possible winnings that bettors might anticipate, nor should they portray gambling as appealing to society or suggest that it helps people succeed in their personal or professional lives.

Declaration of Interest:

Companies that wish to be granted permission to run sports betting in Brazil have until November 26 to submit a preliminary expression of interest to the Ministry of Finance, which is a thirty-day period following the publication of Decree 1330. Send the non-binding preliminary expression of interest to [email protected], the email address of the Ministry of Finance’s General Coordination of Lotteries. Sports Betting Brazil Operators

The Decree includes an application that interested parties must fill out and submit along with the bylaws, articles of organization, or a pledge to form a Specific Purpose Company (SPE). Foreign businesses must present a written promise to open a branch in Brazil, either in Portuguese or with a certified translation.

The company should include all of its qualifications on the form that must be filed with the expression of interest, along with information about how many brands it plans to manage and what kinds of operations it will be doing—sports betting, online gaming, or both. In the form, the business must also state whether it currently possesses licenses in other nations and, if so, list them.