A Step Towards Better Management and Supervision. Regulatory Agenda for Fixed-odd Betting in Brazil has been announced

The Secretary of Awards and Betting of the Ministry of Finance published Ordinance SPA/MF 561/8.04.2024, which established a Regulatory Agenda for 2024, divided into 4 phases.

This ordinance's main objective is to systematically structure the Regulatory Agenda for fixed-odd betting in the country and represents a considerable advance in the management and supervision of this sector. According to the ordinance, which can be read in full here, regulatory ordinances will be released as follows:

Phase 1 (April): Payment Methods, Betting Systems and Authorization Ordinances

Ordinances that define guidelines for payment methods, security standards for betting systems, and procedures for obtaining authorization to operate fixed-odd betting across the country will be launched later this month. These measures complement regulations already established in February, which addressed the certification of betting systems, live gaming studios, and online gaming.

Phase 2 (May): Money Laundering and Other Offenses, Rights and Obligations ordinances.

Guidelines will be established for operators, addressing legal provisions and the rights of bettors, in addition to defining requirements and procedures for the authorization of live gaming studios and online games available to bettors.

Phase 3 (June): Online Gaming, Inspection, and Sanctioning Action Ordinances will be published.

Phase 4 (July): Responsible Gaming and Social Destinations ordinances.

The deadlines are tight and will require a considerable effort from the Ministry of Finance to be met, especially with the imminent appointment of a new Secretary of the Secretariat of Awards and Betting (SPA) taking place today. The new Secretary, lawyer Régis Dudena, will face the challenge of quickly familiarizing himself with all the work already carried out.

Interested in regulatory changes in different jurisdictions? Contact Chevron Group’s Ursula Bessa Marinho (ursula@chevron.group) or Thees Buschmann (thees@chevron.group) for an expert advice. Follow us on LinkedIn for more industry related news.