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Bichara e Motta Advogados, through its Gambling & Crypto Department, participated in Public Consultation nr. 109/2024, promoted by the Financial System Regulation Department (Denor) of the Central Bank of Brazil, which introduced a draft resolution to regulate the establishment and operation of Virtual Asset Service Providers (PSAVs). Recognised for its extensive expertise in providing legal…

Today, 12 November 2024, the Ministry of Sport issued Ordinance MESP nº 109/2024 (“Ordinance”), establishing a regulatory milestone aimed at preventing and combating the manipulation of sports results within the fixed-odds betting sector. Designed to safeguard the integrity of sporting competitions, this normative framework introduces mechanisms for cooperation with operators authorised by the Secretariat of…

This Tuesday, 20 August, marked the deadline for betting operators to submit their applications to the Secretariat of Prizes and Bets of the Ministry of Finance (SPA). Those who met this deadline will receive a response regarding the approval or rejection of their applications by 31 December 2024, ensuring predictability for the continuation of their…

  The main deadline for betting operators to submit their federal authorization application to exploit fixed-odds betting is 20 August 2024. By submitting the application by this date, operators may be authorized, provided they meet the established requirements, until 31 December 2024. As of 1 January 2025, the Secretariat of Prizes and Bets of the…

After intense market anticipation, the Secretariat of Prizes and Bets of the Ministry of Finance (the “Regulator”) clarified today a crucial requirement regarding the corporate structure necessary for obtaining authorization for fixed-odds betting operators in Brazil, especially those that are subsidiaries of foreign companies. The clarification focuses on the interpretation of the current legislation, which…

Last Friday, 3 May, the Ministry of Finance (the “Regulator”) published Ordinance nr. 722 (“Ordinance”), which establishes the technical and security requirements that betting operators must adopt in their betting systems, as well as in sports betting and online gaming platforms (referred to collectively as “Betting Infrastructure”). Among the technical requirements established by the Ordinance,…

Today, the Secretary of Awards and Betting of the Ministry of Finance (the “Regulator”) issued the Normative Ordinance SPA/MF No. 615 (“Ordinance”), which establishes the rules that will govern the conditions and obligations involving payment transactions in fixed-odds betting. Firstly, the Ordinance mandates that all financial movements between bettors and betting operators—including deposits, withdrawals, and…

Currently, the betting market is experiencing a pronounced trend towards an increasing number of mergers and acquisitions (“M&A”) among operators. This trend is primarily driven by the substantial regulatory costs associated with the licensing process, including authorization fee that can reach BRL 30 million (thirty million Brazilian reais), technical certifications, and tax obligations. Collectively, these…

The Ministry of Finance (the “Regulator”) issued the Ordinance MF-SPA/MF No. 300 (hereafter “the Ordinance”), which sets forth guidelines, requirements, and procedures for accreditation of testing laboratories in relation to betting systems, live gaming studios, and online games. Within this framework, testing laboratories recognized by the Regulator will have the authority to issue a Brazil-specific…

The CONAR (National Council for Advertising Self-Regulation) in Brazil has published a specific set of rules aimed at regulating marketing activities related to betting in the country. As a result, the following guiding principles and directives for betting advertising within Brazil have been established: General Rule: Betting advertising must be conducted in a socially responsible…