Brazil Sets the Rules for Bookmakers to Get Licensed

The Brazilian Ministry of Finance has issued Decree 1330, which lays out the initial regulations for bookmaking companies to get licensed and operate in the country.

As you may recall, betting in Brazil became legal in the summer of 2023, when President Lula da Silva signed a bill that was later approved by the lower house of parliament.

According to Decree 1330, bookmakers who want to get a license must apply by November 26, 2023.

Foreign bookmakers who want to enter the Brazilian market will have to set up a local branch with 24/7 customer support, including Portuguese language support.

The decree also sets some basic requirements for all betting companies, such as:

• Fighting money laundering, terrorist financing, and reporting any suspicious activities or match-fixing to the authorities.
• Keeping their own self-exclusion registers for problem gamblers.
• Advertising responsibly, with a warning that gambling is for adults only, no false odds, and no promises of easy money.
• Providing user guides on their websites.
• Allowing customers to set their own limits on playtime and maximum losses.
• Banning money transfers via credit cards, cash, or third parties.