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Industry
May 23, 2024
Brazil Publishes Licensing Requirements for Gambling Operators
On 21 May 2024, Brazil’s Ministry of Finance’s Secretariat of Prizes and Betting published Ordinance SPA/MF nº 827, establishing the regulatory framework for gambling operator licensing. This Ordinance lays out the general rules for the authorization procedure, including the required documentation and applicable deadlines, marking another vital step toward the long-expected launch of the country’s […]
Industry
May 22, 2024
Novibet Joins IBIA Ahead of Brazil License Bid
Novibet, a major online sports betting operator, has become the latest member of the International Betting Integrity Association (IBIA). This move comes ahead of Novibet’s bid for a license in Brazil. For context, Brazil’s regulations require all companies that wish to offer sports betting to join an international integrity body. As a result, multiple sportsbooks […]
Industry
May 21, 2024
Tough Gambling Regulations in Brazil May Boost Black Market, GR8 Tech Warns
Last month, the government in Brazil confirmed its intention to finalize its laws regarding betting and online gaming by this summer. The country’s Ministry of Finance confirmed it expects the regulatory framework to be established in four stages with the last one ending in July. Amid the plans for a regulated iGaming and betting market, […]
Industry
May 10, 2024
Betfair Becomes CR Vasco Da Gama’s Principal Sponsor
British gambling company Betfair has penned a sponsorship agreement with CR Vasco da Gama, a soccer club from Rio de Janeiro, Brazil. This is notably the biggest sponsorship agreement in the club’s history. According to Vasco’s announcement, the deal is valid through December 31, 2025, and could be renewed for up to two more seasons. […]
Industry
May 10, 2024
Brazil Implements New 15% Player Winnings Tax
Brazil’s Federal Revenue Service has introduced new guidelines for taxing net prizes obtained from fixed-odds lottery bets, subjecting them to a Personal Income Tax (IRPF) rate of 15%. This development marks another step forward in the country’s efforts to finalize its updated gambling legislation, ushering in a safe and sustainable market that will benefit all […]
Industry
May 8, 2024
Brazil Unveils New Regulations Ahead of Gambling Industry Launch
Brazil’s Ministry of Finance has unveiled updated regulations ahead of the anticipated launch of the country’s sports betting market. The new ordinance, issued by the Betting and Prizes Secretariat and published in the Federal Official Gazette, introduces vital provisions ensuring the integrity and security of the industry amidst new industry trends and rising global challenges. […]
Industry
May 7, 2024
SPA Confirms That Brazilian Operators Must Add .Bet to Their URLs
The Secretariat of Prizes and Betting (SPA) of Brazil’s Ministry of Finance has concluded that licensed operators will be required to add .bet to their domain names. As a result, operators’ URLs will need to have .bet.br after the company name. This decision has been discussed for a while now as the secretariat was uncertain […]
Business
April 22, 2024
Regis Dudena Becomes Leader of Brazil’s Prizes and Betting Secretariat
Régis Dudena, a lawyer with an extensive background in the legal sector, was designated as the leader of the Prizes and Betting Secretariat (SPA), the newly established regulatory body in charge of gambling in Brazil. A confirmation about the latest appointment came from a publication in the country’s Official Gazette of the Union. The appointment […]
Industry
April 19, 2024
Brazil Rejects Betting Bonuses as Regulatory Policymaking Continues
Brazil’s new regulatory framework would prohibit gambling incentives, such as bonuses and free bets. The new rule is outlined in the new guidelines, published by Brazil’s Ministry of Finance through its Secretariat of Prizes and Betting (SPA). In addition to prohibiting certain payment methods, such as cryptocurrencies, cash and credit cards, the new framework makes […]
Industry
April 19, 2024
Brazil Government Implements Stricter Payment Rules for Online Betting
In a move to tighten regulations surrounding online betting, Brazil’s Ministry of Finance, through its Secretariat of Prizes and Betting, has announced new guidelines for payment transactions in online betting. The regulation prohibits several payment methods, including cash, credit cards, bank slips, and cryptocurrencies. New Decree in Brazil Mandates Electronic Payments for Online Bets According […]
