The sports betting landscape in Brazil is entering a new chapter with the implementation of a regulation that reinforces the security, responsibility, and transparency of the sector. The measure, which complements the regulation of fixed-odds betting in the country, aims to protect players, prevent illegal activities, and promote a reliable and responsible gaming environment.
Protecting the Bettor at the Forefront:
A cornerstone of the new regulation lies in the implementation of robust mechanisms to identify and classify the risks of bettors. Betting operators are responsible for creating policies that include identity verification, financial capacity assessment, and identification of PEPs (Politically Exposed Persons) and their relatives. This measure aims to ensure that bets are placed in a conscious and responsible manner, preventing indebtedness and other financial risks to players.
Combating Money Laundering and Terrorism Financing:
The regulation is also concerned with combating illicit practices such as money laundering and terrorism financing. To this end, it establishes clear criteria for reporting suspicious transactions to COAF (Financial Activities Control Council). Betting operators take on the role of sentinels against these activities, contributing to the security of the Brazilian financial system.
Commitment to Sustainability and Corporate Governance:
Recognizing the importance of social and environmental responsibility, the regulation encourages the adoption of ESG (Environmental, Social, and Governance) policies by betting operators. This initiative demonstrates the industry’s commitment to sustainable practices and the promotion of ethical and transparent corporate governance.
Alignment with the Anti-Corruption Law:
The implementation of compliance policies, aligned with the Anti-Corruption Law (Law 12.846/2013), reinforces the ethical and responsible stance of the sports betting market. This measure aims to ensure the fairness of operations and prevent corrupt practices, consolidating trust in the sector.
A New Level for Sports Betting in Brazil:
The new regulation marks a significant step in the evolution of the sports betting market in Brazil. By prioritizing player safety, operational transparency, and social responsibility, the measure contributes to building a trusted, sustainable, and internationally aligned gaming environment. This initiative paves the way for the orderly growth of the sector, attracting new investments and generating opportunities for the country’s development.
For more information about regulation in Brazil and anywhere in the world, talk to the experts at EGS Digital Services. With our vast experience in the market we can help your gaming and betting business to prosper and grow.
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