Focus - iGaming: Brazil Tightens Payment Regulations for Sports Betting Operators

Focus - iGaming

Brazil Tightens Payment Regulations for Sports Betting Operators (4 minutes read)

Brazil's Ministry of Finance outlines fresh rules for payment transactions by fixed-odds betting operators, aimed at ensuring security for citizens in sports betting or online gaming. The rules govern the money flow in authorized bets and permit transfers through PIX, TED, debit cards, and prepaid cards from registered betting accounts. However, cash, alternative deposits, and cryptocurrencies, which could obscure fund origins, along with credit cards or post-paid instruments, are not allowed. The new regulation also requires betting operators to establish a financial reserve of R$5 million to ensure prize payouts and debt settlements.