TheGamblest’s Post

Brazil! Get ready to go! 🇧🇷🇧🇷🇧🇷 The Ministry of Finance has outlined an agenda to reshape the betting landscape and regulate fixed-odds betting. BMM will be opening a lab in Brazil, giving our support to this vibrant market. Kicking off by April and up to July 2024, Brazil is on a mission to establish clear standards, seting the stage for a secure, transparent, and efficient betting environment. The agenda emphasizes transparency and responsibility, with specific regulations to combat money laundering and protect bettors' rights. The focus is on responsible gaming, ensuring that the benefits of the industry are shared in a transparent manner with the society. This roadmap highlight Brazil's commitment to a regulated and secured betting sector, ensuring players and operators protection. After Perú, Brazil here we go!

What are the key features and implications of Ireland's new Gambling Regulation Act 2024? ALG's Betting & Gaming team are hosting a webinar to explain the new licensing regime, advertising rules and the role of the Gambling Regulatory Authority of Ireland. Colleagues from our Tax and Technology teams will also give an overview of taxation and IP considerations from an Irish perspective.   🗓️ Date: 26 November 2024 🕒 Time: 2pm-3pm GMT 📚 Earn one hour of General CPD with the Law Society of Ireland   To register your interest to attend, click here: https://lnkd.in/eMyUBw76 #ALG #GamblingRegulation #Webinar #Insights

🎲 Brazil is setting new regulations for its growing betting market. On May 21st, 2024, the country’s Ministry of Finance issued the Ordinance SPA/MF No. 827, aiming to regulate and standardize commercial operations of fixed-odds betting in Brazil. Our article breaks down the essentials so your business stays compliant and is prepared for success. Read all about it: bit.ly/3X6FnXa. #Brazil #LATAM #BettingRegulations #Compliance #SportsBetting #iGaming #PaymentProvider #PaymentEnabler #PaymentFacilitator

The Brazilian gaming and betting industry faces challenges with excessive negative media exposure and recent legal developments. Ordinance No. 1,475/24, issued by the Prizes and Betting Secretariat of the Ministry of Finance (SPA/MF) - a downloaded bilingual, dual column version of which is available here, is causing disruption by unduly cutting the transition period established by Law No. 14,790/23 by three months! Meanwhile, the Brazilian National Commerce Confederation has filed a lawsuit against Law No. 14,790/23, claiming its unconstitutionality. Stay updated on this evolving situation. #montgomery #leanfullservice #brazil #gaminglaw #regulation

Brazil’s Ministry of Finance has been making progress in the regulation of fixed-odds betting. Resolution No. 827/2024 has established general rules concerning the authorization process for, including the minimum required documentation and applicable deadlines. The procedure for applying for a permit is complex, involving a thorough analysis of the company’s capability to operate fixed-odds betting activities in Brazil. Mattos Filho’s Entertainment practice has prepared a guideline on the procedure, application requirements, analysis deadlines, and potential new regulations from the Ministry of Finance. Learn more and read the guidelines: https://ow.ly/TCfZ50SneZl #BrazilUSCham #Brazil #MemberNews #ChamberMember #Entertainment #Law #Government #Business Via Mattos Filho

New Regulatory Framework For Betting Operations in Brazil: The Ministry of Finance in Brazil has issued the Normative Ordinance No. 615 to regulate payment transactions and operational standards for betting platforms. Key highlights include defined account types, payment regulations, operator restrictions, and more. Want to delve into the intricacies of this regulatory framework? Check out our latest blog here: bit.ly/3UHiVlP. #Brazil #LATAM #BettingRegulations #Compliance #SportsBetting #iGaming #PaymentProvider #PaymentEnabler #PaymentFacilitator

The Brazilian Ministry of Finance has issued a comprehensive ordinance detailing the regulatory framework for transferring bettor data and resources between legal entities within the same economic group in the fixed-odds lottery betting sector. https://lnkd.in/gADui5aF

📜 The Regulation of Gambling in Brazil: A Necessary Step 🎲 The recent regulation of gambling in Brazil marks a crucial moment for the country, bringing significant benefits: ✅ Transparency and Security: Players will be protected thanks to a clear and structured legal framework. ✅ Economic Boost: Regulated gambling generates tax revenue and creates employment opportunities across various sectors. ✅ Control and Prevention: Measures will be implemented to prevent illicit practices and protect vulnerable users. This initiative not only fosters a safer environment for players but also positions Brazil as a benchmark in the regulation of the gaming industry. A winning move for everyone! 🏆

Stay up to speed on Brazil's latest developments with CompliancePlay The Ministry of Finance’s Secretariat of Prizes and Bets (SPA) in Brazil has provided important updates for entities seeking fixed-odds betting licenses. Local Partnership Requirement: According to the FAQ published on June 4, 2024, applicants must have a Brazilian partner holding at least 20% of the share capital. This requirement can be fulfilled by either Brazilian natural persons or Brazilian legal entities. A Brazilian legal entity, in this context, is defined as one incorporated under Brazilian law with its registered office and administration in the country. Domain Registration Rules: The SPA has also clarified that only trademarks operated by authorized legal entities may adopt the domain “bet.br”. This means that operating agents cannot request the registration of "bet.br" domains that are similar to their trademark solely to redirect customers who may mistakenly enter the wrong website address. These clarifications are essential for entities looking to enter Brazil’s fixed-odds betting market, ensuring compliance with Law 14.790. For more detailed information, you can reach out to CompliancePlay #brazil #gaming #gambling #compliance #regulation #CompliancePlay

🇧🇷 Surge in Brazil Betting License Applications as Crackdown Deadline Looms! 🇧🇷 As the deadline for licensing applications looms, managing the transition to a legal online betting market in Brazil has become a hot topic. On September 30, 2024, the total number of applications surged to 182 as operators scrambled to secure their place in this rapidly evolving market. The Brazilian government’s Normative Ordinance No 1,475 has set clear expectations: only companies actively applying for a license can continue operating during the transition period that runs until December 31, 2024. With enforcement actions pending and approximately 500-600 betting sites expected to be blocked starting October 10, the stakes are high for both compliant and non-compliant operators. ❗ What does this mean for businesses in the iGaming sector? For those who applied: Now, it’s a race against time to prepare for the legal market launch on January 1, 2025. Your strategies and operations must comply with the new regulations to avoid hefty penalties. For companies that missed the deadline: The implications are immediate—sites will be blocked, impacting user access and potentially leading to a loss of customer trust. Ensure to facilitate bettors' withdrawal processes by October 10. #iGaming #Brazil #GamingRegulation #Legislation #LatAm #DeBuro