The government will suspend the activity of betting companies that have not requested authorization

The suspension will begin in October, but platforms will still have some time to make withdrawals available.

THE Ministry of Finance announced, this Tuesday 17th, that he will do so suspend the activity of fixed-odds betting companies that have not yet requested authorization from the Ministry to operateThe suspension is expected to begin on October 1st, but the sites will be available for withdrawals until the 10th of the same month.

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The Ordinance of the MF Prize and Betting Secretariat (SPA), published in the Official Journal of the Union, establishes that, from October until the end of December, only betting companies that are already operating and have requested authorization to operate will be able to continue to operate. operate the lottery mode of fixed-odds betting, until this Monday 16.

By December, the Treasury will have to complete the process of analyzing the first requests received and, from January 1, 2025, when the regulated betting market in Brazil will begin, only companies that comply with the laws will be able to operate. No. 13.756/2018, No. 14.790/2023 and in regulatory ordinances created by the department this year.

Still in 2024, however, Approved companies will have to pay the R$30 million grant to start operating and, starting in January, the Treasury says they will need it comply with all regulations aimed at combating fraud, money laundering and abusive advertisingamong others.

From October onwards, companies that have not applied for authorisation through the MF Betting Management System (Sigap) will be classified as illegal until they have obtained authorisation from the Treasury. Those that have applied for authorisation but were not yet operational will have to wait until the start of operation in January, if they obtain authorisation from the MF, once all the requirements have been met.

“We will maintain the adaptation period until the end of December only for those who have already demonstrated their willingness to act in accordance with the law, according to Brazilian rules. Many police operations have come to light involving companies that operate criminally in the betting market. This was the way we found to not wait until January to start separating the wheat from the chaff. We want to protect the mental, financial and physical health of bettors, preventing the activities of companies that use sports betting and online games as a means to commit fraud and money laundering,” said the MF’s secretary of prizes and betting, Regis Dudena.

The manager stressed that even before the regulation of betting was completed, fraud and money laundering were crimes and continue to be so.

“The adaptation period cannot be used to violate laws already in force, such as, for example, the Money Laundering Act (Act No. 9,613/1998), the Financial Crimes Act (Act No. 7,492/1986), the Consumer Protection Code, the Childhood and Adolescent Statute (ECA), among others. When analyzing requests for authorization, we take into account the commission of illegal acts,” Dudena emphasized.

Until 23:59 on September 30, active companies that have already requested authorization will have to communicate which of their brands are active and which websites (internet domains) they use during this adjustment period. From January onwards, all authorized companies will use the Brazilian internet domain, with the extension “bet.br”.

What will the suspension be like?

Companies that have not yet requested authorization can no longer offer fixed-odds betting, but they must make their websites available until October 10, so that bettors can withdraw their deposited assets. It will be the responsibility of the site operators to ensure that punters have the means to withdraw the deposits to which they are entitled.

From October 11th these websites and their applications will be banned and taken offline. To this end, the Treasury says it will intensify dialogue with the Ministry of Justice and Public Security (MJSP), the Central Bank (BC) and the National Telecommunications Agency.

Source: Terra

Rose

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