Recently, the Secretariat of Prizes and Betting of the Ministry of Finance (“SPA/MF”) published Ordinance n. 1,857/2024 (“Ordinance”), creating transitional rules for online betting sites that requested the license to provide their services in Brazil.
The Ordinance established procedures and rules for migrating data and funds from the websites currently used by online betting sites to their new websites, registered with the bet.br domain extension, that receive the aforementioned license from SPA/MF.
According to the Ordinance, online betting sites must request SPA/MF’s approval for the transfer of data and funds, as well as allow bettors to choose between accepting the migration or withdrawing the full amount from their accounts, which will be transferred to a bank or financial institution authorized by the Central Bank.
Our team is available for further clarifications, as well as to provide assistance with the compliance with gaming regulation.
Gustavo Flausino Coelho – gustavo@bastilhocoelho.com.br
Fernando Naegele – fernando@bastilhocoelho.com.br