Brazilian lobby group raises concerns at delayed publication of regulatory guidelines
The Brazilian Institute of Responsible Gaming (IBJR) wants operators to have enough time to make sufficient adjustments to their products before the market goes live in January 2025
The Brazilian Institute of Responsible Gambling (IBJR) has expressed its concern at the length of time taken for the country’s government to publish its guidelines for the regulated market.
The regulated online sports betting and igaming market in Brazil is set to go live from January 2025, leaving operators until the end of the year to apply for a licence – and putting an end to Brazil’s time operating as a grey market.
The Secretariat of Prizes and Betting (SPA), housed within the Ministry of Finance, was due to release 11 ordinances for regulating the market, as part of its regulatory agenda, by the end of July.
However, the IBJR raised concerns that only five of the ordinances have been released, with just two weeks to go before the original deadline.
These guidelines will include, among other things, technical and security requirements for operators as well as frameworks for promoting responsible gambling.
The IBJR also voiced its unease at the delay of the SIGAP Manual, which includes reporting frameworks and outlines how operators will be held accountable by the SPA.
The lobby group argued this is crucial for helping operators complete their betting platforms before market launch.
An IBJR statement said: “The IBJR and the gaming industry are waiting for the publication of initiatives aimed at regulating fixed-odds betting.
“These delays compromise the planning and execution of the companies’ disembarkation, as they reduce the deadline for them to make the necessary adjustments until January 1, 2025, the date on which the market regulation rules will come into force.”
So far, the SPA has outlined payment rules for licensed operators prior to the regulated market launch, in addition to appointing Régis Anderson Dudena as its first president.
The regulator has also stipulated that all operators must include ‘.bet’ within its platform’s URL.
Betano and Superbet are the two confirmed operators to have publicly and officially signalled intent to acquire a licence, which will allow firms to run three brands.
Each licence will cost BRL30m and run for five years.