{"id":692,"date":"2024-05-23T13:01:59","date_gmt":"2024-05-23T16:01:59","guid":{"rendered":"http:\/\/34.45.239.84\/?p=692"},"modified":"2024-06-01T00:52:17","modified_gmt":"2024-06-01T03:52:17","slug":"ministry-of-finance-publishes-rules-for-authorization-of-sports-betting-and-online-gaming-operations","status":"publish","type":"post","link":"http:\/\/34.45.239.84\/ministry-of-finance-publishes-rules-for-authorization-of-sports-betting-and-online-gaming-operations\/","title":{"rendered":"Ministry of Finance Publishes Rules for Authorization of Sports Betting and Online Gaming Operations"},"content":{"rendered":"\n
This Wednesday (22nd) marked another important step for the betting market in Brazil. The Secretariat of Prizes and Betting of the Ministry of Finance (SPA\/MF) published Ordinance No. 827 in the Official Gazette of the Union, which sets the rules for authorizing the operation of sports betting and online gaming in Brazil.<\/p>\n\n\n\n
Ordinance SPA\/MF No. 827 includes 10 annexes. Among the established points is the fee of R$ 30 million for authorization, valid for up to three brands over five years. Additionally, current operators have until December 31 to comply with the new regulations. Once the authorization request is submitted, SPA has up to 180 days to communicate the approval or rejection of the request.<\/p>\n\n\n\n
With the publication of the Ordinance, the window for receiving authorization requests for the activity is now open. Only legal entities that receive prior authorization from SPA\/MF can operate as operators. From January 1, 2025, companies without an approved license will be prohibited from operating and subject to penalties.<\/p>\n\n\n\n
The R$ 30 million license fee must be paid within 30 days after SPA communicates the approval of the request. Interested companies must be established in Brazil, meaning they cannot operate solely as a branch of an operator constituted abroad. Additionally, it is mandatory to have at least 20% of the shareholding held by a Brazilian partner.<\/p>\n\n\n\n
For operators wishing to operate in Brazil, it is important to quickly submit their license application. Despite the 180-day period defined for SPA to analyze the request, operators will have a special deadline during this transition period. Those who submit the request within 90 days from the publication date of the Ordinance are guaranteed to receive a response by December 31, the deadline for compliance.<\/p>\n\n\n\n
For all authorized in this first group, the authorization ordinances will be published on the same day. SPA\/MF expects to issue the first authorizations by the end of the second half of 2024. Communication between companies and the Secretariat will occur through the digital platform of the Betting Management System (SIGAP). The criteria required by SPA\/MF involve five categories: legal qualification, fiscal and labor regularity, integrity, economic-financial qualification, and technical qualification.<\/p>\n\n\n\n
Submitting the application within these 90 days, called the transition period, companies will be notified of the approval or rejection of the request by December 31 through SIGAP. If approved, the R$ 30 million license fee must be paid within 30 days. The document is available in full on the Official Gazette of the Union’s <\/a>website, detailing all requirements for operators to obtain the license.<\/p>\n\n\n\n The ten annexes to the ordinance are:<\/p>\n\n\n\n Ordinance No. 827 was published this Wednesday (22nd) in the Official Gazette of the Union and defines the rules for the activity.<\/p>\n","protected":false},"author":2,"featured_media":691,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[79],"tags":[],"class_list":["post-692","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-payments"],"blocksy_meta":[],"yoast_head":"\n\n