Ministry of Finance establishes politics and regulatory agenda of the Secretariat of Awards and bets

earlier this month, the Ministry of Finance published Ordinance 561/2024, establishing the regulatory agenda of the Secretariat of Awards and bets for the fixed quota betting market in Brazil ("The Bets Market"). This measure aims to offer a stable and transparent regulatory environment, providing legal certainty and efficiency in the regulatory process. The agenda was divided into four phases, with schedule for implementation until the first half of this year.

In the first phase, by the end of April, requirements and procedures relating to the operational capacity of certifying entities, general rules for payment transactions, technical requirements and security systems security requirements, besides conditions for the authorization to explore bets throughout the national territory. In the next phase, in May, it will be established controls of prevention of money laundering and fraud, as well as rules for operators to guarantee the rights of gamblers.

The third phase in June will address technical and security requirements of online games, activity monitoring and supervision, and administrative sanctions application procedures. Finally, in July, the fourth phase will deal with the regulation to promote the responsible game and the procedures to effect the legal transfers provided for by law.

The agenda represents an important milestone for the betting market in Brazil, offering clear guidelines for operator agents and promoting a safer and more reliable environment for investors.