The Brazilian Ministry of Finance has implemented financial rules for transactions in Brazil for sports betting and online gaming, so it could enhance security and transparency. Below are the main points of ordinance 615/2024:
Safety for Bettors
The regulation aims to safeguard Brazilian citizens participating in sports betting or online gaming by overseeing fixed odds betting operators nationwide.
Regulated Money Flow
The ordinance details the flow of money in bets authorized by the Ministry of Finance, from the transfer of funds to the payment of prizes.
Authorized Payment Methods
Transfers via PIX, TED, debit cards, or prepaid cards are allowed. However, funds must originate from the registered account with Bet. As a preventive measure against indebtedness, cash deposits, bank slips, cryptocurrencies, or credit cards are not accepted.
Prize Payment Deadline
Bets have up to 120 minutes after the conclusion of the sports event to pay out prizes to bettors. Therefore, they must be prepared for this.
Segregation of Funds
The regulation ensures the segregation of bettors’ and operators’ funds, preventing players’ funds from being used for operational expenses or operator debts.
Mandatory Financial Reserve
Authorized operators must establish a financial reserve of R$ 5 million. So, this reserve ensures payment of prizes and other obligations to bettors, especially during insolvency or illiquidity.
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