They highlighted the need for strict oversight of companies authorized to offer fixed-odds bets. "Companies authorized by the Secretariat of Prizes and Betting (SPA-MF) must comply with all rules published as of Law 14.790/2023, under penalty of being punished and even losing their authorization. All of these measures aim to protect bettors and the popular economy", stated Dudena.
The regulation aims to protect gamblers and strengthen the popular economy, as reinforced by Dudena. Companies that do not comply with the guidelines will be subject to severe punishments, including the revocation of their authorizations. “It is vital that authorized companies follow the published rules. This is not just a matter of compliance; it is a matter of social responsibility,” he stated.
The SPA representatives also emphasized the importance of combating illegality, including monitoring financial and payment institutions, which may also be inspected and sanctioned, for example, if they carry out illegal betting operations.
In addition to Regis Dudena and Daniela Olímpio, the event was also attended by the head of the Division of the Anti-Money Laundering and Terrorism Financing area of the Central Bank, Gerson Romantini, and the president of the Advertising Self-Regulation Council (Conar), Sergio Pompilio.
Another important point addressed at the event was the fight against illegality in the sector. Monitoring financial and payment institutions that carry out betting operations is a crucial part of this effort. Romantini emphasized that financial institutions can also be held liable if they allow illegal transactions.
Concerns regarding money laundering and the regulation of betting house advertising are central topics in the legislation recently drafted by the Secretariat of Prizes and Betting.These regulations, published in February 2024, seek not only to regulate the market, but also to curb practices that may harm consumers and affect market integrity.
The creation of rules to combat money laundering and the regulation of betting house advertising were two of the main concerns of the regulation published by the SPA as of February 2024. The Central Bank and Conar have been frequent interlocutors at the SPA on these topics.
Source: GMB
