Brazil announced requirements for bookmakers

The Brazilian Ministry of Finance has published new rules and requirements for companies offering sports betting services. Bookmakers will have 30 days to register their activities.

In order to register, they need to provide documents proving the bookmaker's legal, financial, and technical capacity. The document named Decree 1330 contains players' rights, measures against money laundering, and recommendations on fixed odds betting. Foreign companies wishing to operate in Brazil must have a subsidiary in the country and confirm their registration.

Under these new regulations, bookmakers' services must be offered on a competitive basis. All companies are required to offer both offline and online formats. Sports betting platforms must meet technical standards and be certified by competent laboratories.Companies must also provide services in Portuguese and operate 24 hours a day to meet the needs of customers. Bookmakers are required to employ specialists in different industries such as accounting, data security, and others to ensure safety and compliance.

6 November 2023, 16:30

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