Starting in January, the approved ‘Bets’ – as bookmakers are called in Brazil - will begin their official operations in the country. Thus, the bookmaker completes another step and claims to be at the forefront of the regulatory process to officially operate starting 2025.
Superbet was certified by eCOGRA (eCommerce and Online Gaming Regulation and Assurance), an English consultancy and one of the accreditors authorized by the Brazilian government to carry out compliance audits of betting sites. The certificate was issued last Tuesday (10) and is valid for one year.
The criteria evaluated by the certifier included data and system security, with cyber protection guarantees; fair and random bets, with verification of all operating systems; prevention of money laundering, with strict financial control mechanisms; and full compliance with all rules established by the government.
In the previous stage of regulation, Superbet was the first to make the payment of R$30 million (US$5m) of the grant required by the government to operate betting in the country.
When contacted, the Secretariat of Prizes and Betting said that it does not disclose which ‘Bets’ made the payments, which will be done all at once in January. In total, there are 71 betting houses in this phase.
Step by step
According to the secretariat, there are four steps until companies can legally operate online betting in the country.
First, it is necessary to submit the authorization request in the Betting Management System (Sigap), along with all the required documents.
"Among other information and documents, it is necessary to submit a declaration of the origin of the funds, a declaration of unblemished reputation, and negative criminal record certificates issued by the Federal Police and the Civil Police of the domicile," according to the secretariat's website.
Since it is common for documents to be missing or to contain errors, the Prizes and Betting Department then notifies the company to resolve the issues within 15 days.
After this first stage, if the Ministry of Finance approves the analysis, the process is sent to the Ministry of Sports, which is responsible for giving its approval, re-examining the documents, especially those related to sports integrity.
With this approval, the process returns to Finance, which begins the third phase of the process, with the final requirements, especially the financial ones (payment of the grant, full payment of capital and the guarantee account). Also in this stage, proof of the origin of the capital is analyzed.
After this, the company must present the certification of the betting system and, only then, Finace publishes the authorization in the Official Gazette. For each company, there will be an authorization, explaining which brands and domains it can explore.
Source: Painel / Folha
