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Brazil Reveals Significant Demand For Businesses To Enter Newly Started Online Gambling Market

Brazil has now decided to debut the federal online gambling market after President Luiz Inácio Lula da Silva formally legalized sports betting in July this year and signed a provisional measure (PM) that applied the 2018 law. In this regard, the Ministry of Finance issued Ordinance No. 1330 on the afternoon of October 27th, which contained all demands for companies wishing to operate in the above market.

Businesses wishing to operate legally in Brazil’s online gambling market are obliged to express their intentions within 30 days, a move that ultimately aims to “accelerate the government’s licensing process.” However, the entry requirement emphasizes that operators need to form a “specific service center” to provide much-needed support to customers.

Maintain industry integrity as one of the key requirements: 슬롯머신사이트

In this case, all businesses who are applicants must maintain industry integrity, comply with legal and ethical standards, and carefully monitor and accurately report any suspicious or fraudulent transactions to the Financial Activity Control Council (COAF).

In addition, safer gambling is considered a major entry demand, which requires applicants to apply precautions to deal relentlessly with the entire problem of customer debt and gambling addiction, and operators must demonstrate all user protection measures because access to online gaming platforms is restricted to people under the age 18.

The next requirement is that the applicant must provide the tools to use to set the loss limit, self-exclude options, playtime limits, and break times.

Do not use third-party payment methods:

When it comes to payment, platforms are prohibited from using third-party payment methods for customer transactions.

And finally, the aforementioned ordinance concludes with an emphasis on advertising, stressing that any communication between players and marketing must adhere to “socially responsible practices.” Easy-to-understand guidelines and restrictions have been put in place to ensure that the content used in advertising is not misleading and to promote an officially responsible betting culture.

Moreover, according to the above ministry, the request for these ordinances shall take effect upon publication.

142 replies on “Brazil Reveals Significant Demand For Businesses To Enter Newly Started Online Gambling Market”

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