Sports Betting
21 de jun. de 2024
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The Ministry of Finance published last May, in the Official Gazette of the Union, Ordinance SPA/MF nº 722, of May 2, 2024, highlighting the set of technical requirements that must be observed by future operators in the thematic betting segment sports and online games (bets).
Main changes:
Payment methods
Bets and prizes can only be paid by electronic transfer between bank or payment accounts. Only Pix, TED, debit or prepaid cards will be accepted. Cash, bills, checks, cryptocurrencies and credit cards are prohibited.
Financial Security
Companies must prove a financial reserve worth R$5 million to guarantee payments.
Tax
A rate of 18% was defined on Gross Gaming Revenue (GGR).
Bank accounts
Transactions can only be carried out through authorized Payment Institutions.
Resource Segregation
Contributions, withdrawals and payments of prizes must be made exclusively into the account held by the bettors.
Prizes paid within 2 hours
Winning bettors will receive their prizes within 120 minutes (2 hours) after the event ends.
About operations security:
Payments must be processed “exclusively by institutions authorized by the Central Bank of Brazil” (Art. 34- A). Payment Facilitators will not be authorized to carry out this financial transaction.
By regulating the flow of money, the SPA/MF Normative Ordinance takes an important step towards inhibiting money laundering and other crimes involving the betting market in Brazil. Furthermore, it contributes significantly to greater diligence by Bets in the financial management of bettors' resources.
Beeteller is a Payment Institution, issuer of electronic currency, authorized and regulated by the Central Bank of Brazil (Bank Code: 550), specialized in banking and transactional security technologies. With more than 6 years of experience, the company helps international companies enter the Brazilian and Latin markets, supporting all processes related to payments.
