From January 1st, unauthorized bookmakers will be subject to penalties; country has more than 300 bets
Bets that intend to start operating in 2025 had until this Tuesday (20.Aug.2024) to file the request with the General Betting Systemfrom the Prize and Betting Secretariat, of the Ministry of Finance.
In total, 111 betting houses filed the request within the deadline. From January 1, 2025, unauthorized companies will be subject to penalties.
LESS THAN 40%
The total number of bets that requested authorization to operate represents 36% of the total operating in Brazil. According to a survey by PwC Strategy&there were 308 betting houses in operation in the 1st quarter of 2023.
The number of representatives has increased over the last 3 years. In 2020, there were 51 companies in the country.
ANALYSIS UNTIL THE END OF 2024
The deadline was established by an ordinance of the Ministry of Finance published on May 21, 2024 (full – 384 kB). The 1st request, from Kaizen Gaming Brasil Ltda., operator of Betanowas registered 5 days later, on May 26th.
The company had problems in Rio de Janeiroa state that has its own rules for registering betting houses and that has started to block bets not registered in its territory. This blocking was overturned by the courts.
The ministry assured that it will analyze the applications submitted within the deadline in 2024. After that date, it will still be possible to register, but without the guarantee of authorization this year. The Treasury’s analysis process can take up to 150 days.
To operate in Brazil, bets must meet criteria related to legal qualification, tax and labor regularity, suitability, economic-financial qualification and technical qualification.
The company will have to pay a concession fee of R$30 million. The requirement is among the rules established by the ministry. The authorization will be valid for 5 years.
Each company can operate 3 trademarks in Brazil on its electronic channels. The license may be reviewed whenever there is a merger, spin-off, incorporation, transformation, as well as transfer or modification of the bet.
#bets #requested #authorization #Treasury #operate