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Ministry of Finance releases list of websites approved to continue operating in Brazil until December 2024
O Ministry of Finance released last Tuesday (1st) the official list of online betting companies authorized to continue operating in Brazil by the end of 2024. The list includes 193 websites linked to 88 companies, all of them started the final authorization process until the day September 17. Among the best known platforms are Betano, Sportingbet e King of Pitaco, which can now operate legally in the country, according to the website InfoMoney.
These platforms are part of a broader regulatory process that aims to control and legalize sports betting activities in Brazil, offering greater security for both bettors and the market. According to the Law 14.790 / 2023, companies that obtain authorization must pay a fee of R $ million 30 to operate up to three brands for the period of five years.
Clarifications from the Government and the Ministry of Finance on unauthorized websites
Despite the regularization of several platforms, the federal government is also intensifying actions against sites that operate irregularly. According to the Minister of Finance, Fernando HaddadNear 600 betting sites will be banned from operating in Brazil in the coming days due to irregularities or failure to comply with the requirements established by the new legislation. The Ministry recommends that users who have money deposited on these irregular platforms withdraw your funds by the day October 10.
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After this date, only authorized websites that were already operating legally will be able to continue their activities. Companies that are suspended will have the chance to request new authorization, but, according to the Government and the Ministry of Finance, these requests will go to the end of the analysis queue, which could significantly delay the regularization process.
Authorization process in progress
The Government and the Ministry of Finance work to complete the process of analyzing authorization requests until December 2024. During this period, all companies that filed their requests by the stipulated deadline will have their documents and requirements reviewed by the authorities. The expectation is that, with complete regulation, the online betting market in Brazil be safer and more transparent.
Besides fee of R$ 30 million To obtain the license, companies must also follow a series of guidelines established by Law 14.790 / 2023, which establishes the rules for the legal operation of sports betting platforms in the country. The regulation seeks to ensure the integrity of operations, protect consumers and combat fraudulent or illegal practices.
Penalties for illegal websites
From January 2025, companies that continue to operate in Brazil without proper authorization will be subject to severe punishments. Among the penalties provided for by the new legislation are fines that can reach R$ 2 billion for violation, in addition to the definitive suspension of its activities in the national territory.
This regulation represents a significant step forward for the sports betting market in Brazil, which had been growing rapidly in recent years but had been operating in a legal gray area. Now, with the regulation, the government hopes to ensure greater control over the sector, including tax collection and combating fraud.
