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No more unlicensed operators in Brazil
Brazil’s Ministry of Finance announced the suspension of all unlicensed sports betting operations starting October 1.
Brazil has been significantly improving the gaming and betting market. Earlier this year, in May, the Brazilian Ministry of Finance set a deadline for all unlicensed online casinos to apply for a license by the end of 2024 and has recently closed its initial application window for casino licenses, with 113 businesses applying.
Starting January 1, 2025, when Brazil will launch its new regulated betting market, only those companies who applied during this first period will be able to start operations with their legally approved licenses.
2025’s new regulations will include strict anti-money laundering (AML) and counter-terrorism financing (CTF) rules, strong IT security, and measures to prevent excessive gambling. Moreover, a new ban will stop credit card bettings in the country.
Companies that did not apply by the October 1 deadline will have to stop their operations. Regis Dudena, from the Secretariat of Betting and Prizes (SPA), stated that applying after the initial window shows a commitment to following the rules. On the contrary, those companies that missed the deadline are taken as uninterested in complying with legal standards.
Licensed operators will also need to pay a nearly $5.5 million fee. Unlicensed operators face legal consequences.
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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