Sports betting operators in Brazil have 30 days to declare 'intentions'

[The Buzz]

The Brazilian Ministry of Finance has issued official notifications, allowing operators to initiate the licensing application process ahead of schedule. Those interested have a 30-day window to declare their intentions, aligning with the government's aim to streamline the authorization procedure.

From today's Compliance + More newsletter:

• The entry requirements specify that operators must establish “specific service centers” to provide necessary support to customers.
• The ordinances prohibit granting concessions to companies with shareholder connections to professional sports teams or athletes.
• Companies must have a subsidiary based in Brazil.
• Operators will also be mandated to diligently monitor and promptly report any irregular or suspicious transactions to the Financial Activities Control Council.

According to Games Magazine Brasil:

The submission of a preliminary expression of interest does not constitute prior authorization to operate sports betting, nor does it bind the company, which must, in due course, comply with all the requirements of Law No. 13,756/2018, Decree 1330, and other applicable legal and regulatory norms.

The opening date for the procedure to submit requests for authorization to operate sports betting in Brazil will be specified in a specific regulation to be issued by the Ministry of Finance.

Read more here: https://www.gamesbras.com/english-ve...zil-40648.html