Betting Regulation: see how to ensure compliance in operations
Posted: Sun Dec 22, 2024 6:47 am
The sports betting and online gaming market in Brazil continues to expand, generating billions of reais annually. According to a survey by the Brazilian Association of Financial and Capital Market Entities (ANBIMA), 14% of the population already uses betting apps. In addition, the regulations that came into effect in October 2024 brought new requirements that directly impact the operations of these companies.
By regulating betting , the government seeks to increase transparency, prevent irregularities and ensure security for both companies and consumers. In this context, complying with regulations has become a challenge and, at the same time, an opportunity to stand out in the market.
However, how can companies adapt efficiently? In this article, we will explore the changes brought about by the regulation, the importance of compliance, and the solutions that BigDataCorp offers to ensure safe and legal operations. Keep reading to learn more!
The growth of betting in Brazil and regulatory challenges
The online betting market has been gaining more and more followers in Brazil. Currently, around 22 million Brazilians have accounts on betting websites, 40% of these people see betting as a way to get quick money in times of need, while 22% consider it an opportunity for financial investment.
This growth in the movement of large financial usa phone number lists volumes increases the risk of practices such as money laundering and fraud , while issues related to transparency and consumer protection remain at the center of the debate. To address these challenges, the regulation of betting, introduced in 2024, seeks to structure and professionalize the sector, bringing more security to companies and bettors.
Betting regulation: what has changed with the new rules
The regulation of betting has brought a series of important changes to the betting sector in Brazil. Published by the Secretariat of Prizes and Bets of the Ministry of Finance, it establishes clear guidelines to prevent fraud, protect consumers and ensure transparency in operations.
Check out the main highlights:
Ordinance 143/2024 : requires companies to adopt money laundering prevention policies, including risk assessment and reporting to COAF;
Ordinance 207/2024 : defines technical criteria for the approval of games, establishing betting limits and requiring greater transparency regarding accumulated losses;
Ordinance 231/2024 : regulates marketing and communication practices, promoting Responsible Gaming and establishing rights and duties for players and companies;
Ordinance 233/2024 : requires companies to be headquartered in Brazil to sponsor sports teams and prohibits advertisements that present gambling as a form of social advancement;
Ordinance 722/2024 : introduces the mandatory use of facial recognition in user registration to prevent irregularities and the participation of minors.
These regulations represent an important step towards consolidating the betting market in Brazil, but they also require companies to adapt their processes quickly to meet the new requirements.
By regulating betting , the government seeks to increase transparency, prevent irregularities and ensure security for both companies and consumers. In this context, complying with regulations has become a challenge and, at the same time, an opportunity to stand out in the market.
However, how can companies adapt efficiently? In this article, we will explore the changes brought about by the regulation, the importance of compliance, and the solutions that BigDataCorp offers to ensure safe and legal operations. Keep reading to learn more!
The growth of betting in Brazil and regulatory challenges
The online betting market has been gaining more and more followers in Brazil. Currently, around 22 million Brazilians have accounts on betting websites, 40% of these people see betting as a way to get quick money in times of need, while 22% consider it an opportunity for financial investment.
This growth in the movement of large financial usa phone number lists volumes increases the risk of practices such as money laundering and fraud , while issues related to transparency and consumer protection remain at the center of the debate. To address these challenges, the regulation of betting, introduced in 2024, seeks to structure and professionalize the sector, bringing more security to companies and bettors.
Betting regulation: what has changed with the new rules
The regulation of betting has brought a series of important changes to the betting sector in Brazil. Published by the Secretariat of Prizes and Bets of the Ministry of Finance, it establishes clear guidelines to prevent fraud, protect consumers and ensure transparency in operations.
Check out the main highlights:
Ordinance 143/2024 : requires companies to adopt money laundering prevention policies, including risk assessment and reporting to COAF;
Ordinance 207/2024 : defines technical criteria for the approval of games, establishing betting limits and requiring greater transparency regarding accumulated losses;
Ordinance 231/2024 : regulates marketing and communication practices, promoting Responsible Gaming and establishing rights and duties for players and companies;
Ordinance 233/2024 : requires companies to be headquartered in Brazil to sponsor sports teams and prohibits advertisements that present gambling as a form of social advancement;
Ordinance 722/2024 : introduces the mandatory use of facial recognition in user registration to prevent irregularities and the participation of minors.
These regulations represent an important step towards consolidating the betting market in Brazil, but they also require companies to adapt their processes quickly to meet the new requirements.