Brazil’s Ministry of Finance has published a set of comprehensive requirements for sportsbook operators wishing to enter the regulated market once established.
As reported by SBC Noticias, all operators who are interested in entering Brazil’s regulated market must express their interest within 30 days as a way of speeding up the process. Brazil’s sports betting measures are now in the Senate after the lower house approved the legislation earlier this year.
Ordinance No. 1,330 establishes the general rules for sportsbook operators and is broken down into several key sections including responsible gambling, payments and marketing standards.
Firstly, operators cannot grant concessions to companies with shareholders, directors and corporate members who are athletes, technical staff, sporting officials and directors of national sports teams. It comes as a match-fixing scandal rocked Brazil earlier this year.
Furthermore, with regard to responsible gaming, operators must restrict access to their platforms for those under the age of 18, as well as implement safer gambling tools such as daily time limits, loss limits, self-exclusion, and time-out periods.
Additional safer gambling tools and mechanisms are written into the rules, as the government aims to ensure the safety of Brazilian consumers.
The document reads: “For example, advertising and marketing actions in schools and universities that convey misleading statements about the probabilities of winning and those that suggest that gambling contributes to personal success or improvements in financial conditions are prohibited. Commercial advertising for the fixed-odd lottery betting modality must be accompanied by the message ‘Play Responsibly’.”
Finally, operators cannot allow players to use third-party payment methods, and industry advertising must be based on social responsibility and awareness.
As a government ordinance, the rules established in the document are already in force, as Brazilian law notes that ordinances are effective immediately upon publication.