Brazil: Adopted MOF order blocking over two thousand illegal betting sites in Brazil

On 10 October 2024, the Ministry of Finance of Brazil adopted an order blocking over two thousand illegal betting sites in Brazil that do not appear on its authorised list, as determined by the monitoring conducted by the prizes and betting secretariat. The order emphasised that only 96 companies, with 210 bets, are eligible to operate until the end of 2024. The order aims to ensure compliance with existing laws on regulating fixed-odds betting. The order also clarified that bookmakers must pay a grant of BRL 30 million to operate in Brazil's regulated betting market starting 1 January 2025 and comply with rules against fraud, money laundering, and abusive advertising. The order also clarifies that companies not on the positive list must submit documentation for permanent authorisation.