With the formal launch of Brazil’s legal betting market scheduled for the end of this year, the country’s Ministry of Finance’s Secretariat of Prizes & Bets (SPA) has published ordnances outlining the final regulations.
Published on July 31st, Normative Ordnance No. 1,207 was the kickstart for online gaming in Brazil, and with the 90-day window of preference closing on August 20th, just six operators have so far submitted applications for licences. The SPA will prioritise operators who apply before this date, ensuring processing in advance of market launch.
These new proposed regulations also cover industry contributions to the state, the monitoring and inspection of gambling activities, responsible gaming guidelines and the sanctioning of operators who fall foul of the regulations.
Hugo Baungartner, CCO at Aposta Ganha, has previously told leading media outlet, iGamingBusiness, the publication of the online games ordinance would be the catalyst for operators to apply, and that he expects the final number of initial licensed operators to be between 20 and 25.
