Summary
A new law regulates betting sites in Brazil from October, with fines of up to R$2 billion for violations.
You may have heard about betting sites and all the repercussions that come with it, after all it is an industry that involves millions and is not yet regulated in Brazil. But this will change, with the entry into force in October of the new law that regulates betting sites in Brazil.
Companies that have not requested authorization will be classified as illegal until they are authorized to operate by the Treasury Department. Betting sites that operate in Brazil without authorization will be subject to sanctions provided for by the law, which provides for fines of up to R$ 2 billion for each violation.
One of the requirements to be a legalized betting site is to pay a grant of R$ 30 million this year to start operating. According to the Treasury, at the end of last month, 113 requests for authorization had already been submitted by 108 betting companies that want to operate in Brazil starting in January 2025. The authorized betting houses that pay this R$ 30 million will be able to explore up to three brands for five years.
According to the Treasury, if all companies comply with the rules, the department is expected to be able to raise up to R$3.4 billion this year, just through subsidy payments.
Fixed-odds betting companies that have not yet applied for a licence to operate will see their activities suspended from 1 October, the Ministry of Finance has informed.
And you, what do you think about this new regulation on online betting houses?
Watch the video with commentary by Charley Gima.
He is a journalist, music producer and creator of the Formula FuteRock channel.
Source: Terra
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