GMB - Starting in January, sports betting houses and online gaming operators will need to operate with three accounts: the transactional, the proprietary, and the financial reserve account. Could you explain better how operators will adapt to this?
Leonardo Brodsky - These three accounts have distinct purposes. The transactional account is where players make deposits and withdrawals. The proprietary account is for the operator's regular financial transactions, like any business. The reserve account must contain R$5 million (US$825,000) invested in government bonds as a preventive measure to ensure payouts to bettors in case of insolvency or liquidity issues.
Regarding adaptation to this model, the main focus will be ensuring that the balances of the operators' transactional accounts always match the total owed to users.
This is not extraordinary. For operators, it’s just a matter of understanding that they need to have: one account dedicated 100% to operations with end customers (transactional), one account for company expenses (proprietary), and a reserve account, which must be invested in government bonds for emergencies. With the right partner, this adaptation becomes quite simple.
How will financial transfers between these accounts be managed?
According to the established flow, all of an operator's transactional accounts combined must have a balance equivalent to the total owed to users on the site. Any excess funds can be transferred to the proprietary account. In case of a deficit, the operator must transfer funds from the proprietary account to the transactional one.
It’s important to note that there will be constant movements between the transactional and proprietary accounts. This will require rigorous control to ensure effective management of financial assets.
As for the reserve account, any movement will require prior authorization from the responsible authority. Funds must be transferred from the reserve account to the proprietary account and then to the transactional account. Additionally, it is mandatory to maintain a balance of R$5 million consistently invested in government bonds. Despite these specificities, the process is not overly complicated.
Will the Secretariat of Prize and Betting and the Central Bank monitor these transactions?
Yes, but with distinct responsibilities. Payment Institutions must submit reports to the Central Bank, while operators must report their transactions to the Prize and Betting Secretariat. According to the legislation, betting houses must send daily reports of their site transactions using a specific system provided by the Secretariat.
For Payment Institutions, such as PayBrokers, the Central Bank already monitors their activities to ensure that only authorized companies process payments. This helps identify and halt operations of unauthorized betting sites.
Therefore, it’s essential for the Payment Institution to have the necessary authorization and be closely regulated by the Central Bank, meeting all reporting and accountability requirements.
Will the requirement for operators to have checking accounts in Brazil change their relationship with companies like PayBrokers?
Not at all. The services previously provided will be adjusted to meet the new demands of the regulated market. What was done before will be replaced by solutions adapted to the new scenario, with the goal of driving operators’ growth.
In fact, this relationship is likely to become even closer. In a market that has undergone so many changes, it’s crucial for the entire ecosystem to work together to facilitate adaptations and foster innovations, product launches, and overall sector growth.
What are PayBrokers' plans for 2025, and what will the company focus on to continue expanding in the Brazilian market?
It’s difficult to predict the entirety of 2025 before testing the tools of the regulated market. However, our initial focus will remain on providing services that enable our clients to grow their revenues, increase user loyalty, enhance operational security, and create a trustworthy environment, consolidating the betting sector as a form of entertainment.
We are committed to ensuring that every client has access to the best tools and support to operate in a regulated environment, ensuring compliance and quality in all transactions. For us, the success of our partners is the measure of our own success, and we will continue to be the market reference, always one step ahead of changes and demands in the sector.
The main goal is to ensure the market operates and grows. After all, if the industry doesn’t run efficiently, no one can thrive.
Source: Exclusive GMB
