Brazil: Ministry of Finance publishes list of authorized betting sites
Sites that are not approved by the organization will no longer offer services in the country.
Key Points
- Only companies the MF has authorized will be allowed to operate
- The Ministry of Finance has compiled a list of authorized sites that will function until December
Brazil’s Ministry of Finance recently announced on its social media account that only authorized betting companies will be permitted to operate in the country.
This took effect October 1 and means unauthorized sites will no longer be able to offer services to players throughout the region.
During the past few months, the country’s betting management system has received 121 applications for licensing, of which 89 were authorized.
Ministry of Finance Secretary of Awards and Betting Regis Dudena explained the potential effects this will have on the country.
Dudena commented, “The measure provides more security for society and for companies that want to operate properly in Brazil. With this, we protect the mental and financial health of the players.
“Access the Ministry of Finance website to find out which betting sites can continue to operate until December.”
Good to know: Brazil is set to open its regulated sports betting and iGaming markets in January
In related news, the Social Development Ministry recently announced that a proposal will be presented “by next week” that would prohibit the use of social benefits as a payment method for online gambling, according to a Reuters report.
Bolsa Familia provides direct cash transfers to low-income households throughout the region and has been functioning for more than two decades. The organization is led by President Luiz Inacio Lula da Silva.
According to data provided by the central bank, five million people sent close to three billion reais as payments to online gambling companies during August. Funds were transferred through the Pix payment platforms with a median expenditure that totaled 100 reais per person.
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