Regulatory Agenda for Betting Completed with the Publication of Five New Ordinances

02/08/2024
Regulatory Agenda for Betting Completed with the Publication of Five New Ordinances

The Secretary of Prizes and Bets (SPA) of the Ministry of Finance issued five ordinances between July 31, 2024, and August 1, 2024, detailing the regulation of fixed-odds betting activities, as addressed by Laws 13,756/2018 and 14,790/2024:

  • Ordinance SPA/MF No. 1,207: Establishes technical requirements for the operation and certification of online games and live studios on which fixed-odds bets can be placed.
  • Ordinance SPA/MF No. 1,212: Sets procedures for the payment of taxes (social allocations) as provided by law.
  • Ordinance SPA/MF No. 1,225: Regulates the rules for monitoring and supervising the exploitation of fixed-odds betting activities.
  • Ordinance SPA/MF No. 1,231: Defines rules and guidelines for responsible gaming and communication, advertising, and marketing actions, as well as regulating the rights and duties of bettors and operators.
  • Ordinance SPA/MF No. 1,233: Regulates the administrative sanctioning process for the exploitation of fixed-odds betting activities.

With these ordinances, SPA has completed the Regulatory Agenda created through Ordinance SPA/MF No. 561, published on April 8, 2024, which outlined the regulatory framework for the exploitation of the fixed-odds betting lottery modality in the country.

The publication of this last batch of ordinances was highly anticipated by the market, as the deadline for applying for a federal license for companies wishing to operate from January 1, 2025 — when the regulation will come into effect — ends on August 20, 2024. There were still relevant points on which the disclosure of applicable rules was pending.

The release of these rules is expected to significantly increase the number of federal license applications, currently at six, by the end of the regulatory deadline.

The Corporate Law and M&A, Banking & Fintechs, Compliance, Public Law & Regulatory, and Consumer & Product Liability teams at Souto Correa are available to provide more information and clarifications on the matter.

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