The Senate Science and Technology Committee has moved toward banning gambling advertising with a bill that would amend Brazil’s Sports Betting Law.The bill includes the...
Brazil issues 71 online gambling licenses ahead of 2025
Brazil’s Secretariat of Prizes and Bets, SPA, announced the approval of 71 companies for federal online gambling licenses.
Ahead of the debut of the regulated betting market’s launch, 114 companies have applied for a betting license in Brazil. Now. Out of 114 companies, only 71 have met the required standards, including technical security protocols, payment processing standards, and anti-money laundering (AML) measures. These licenses will be valid for five years, allowing operators to run three distinct betting brands or “skins” under a single license.
Meeting the requirements is not enough, as earlier, Brazil set a $5.2M entry fee. Sixteen companies have already paid $81.3 million to the Ministry of Finance. Moreover, companies must establish a registered office in Brazil and maintain certified corporate accounts with the Bank of Brazil. However, betting companies will not have the chance to suggest bonuses and publish advertisements according to the new regulation. All those operators who fail to follow the new rule may receive daily fines of R$50,000, which equals $8,671. Moreover, all companies need to submit detailed reports on the use of the new measures ten days after the order passes.
FAQs
Is gambling legal in Brazil?
Many forms of land-based gambling are illegal in Brazil.
What is the legal gambling age in Brazil?
The legal gambling age in Brazil is 18.
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